Annual Statement
What you will learn:
Participants in this seminar will develop an understanding of life insurance statutory accounting concepts and acquire knowledge and skills necessary to prepare the Life and Accident & Health Annual Statement (Blue Book). The class will concentrate on the specific pages, exhibits and schedules included in the NAIC Annual Statement. Class discussion will center on a comprehensive textbook and a completed life insurance company annual statement. In addition to the textbook, participants will receive electronic access to the current Life Company Annual Statement Handbook.
Seminar Content:
- Industry overview
- Life insurance accounting and the Annual Statement
- Policy accounting in the Annual Statement
- Introduction to reinsurance
- Premiums and commissions
- Reserves, incurred benefits and claim liabilities
- Policyholder dividends
- Assets in the Annual Statement
- Investment valuation, schedules and exhibits
- Interest maintenance and asset valuation reserves
- Admitted and nonadmitted assets
- Impairments
- Summary of Operations, Capital and Surplus Account and Cash Flow page
- Notes to Financial Statements and General Interrogatories
- Risk-based capital
- Line of business, separate account and other information
- Supplemental filings
Who Should Attend:
Accountants, auditors, actuaries, financial executives and staff, regulators and others responsible for the preparation, review or audit of all or a significant portion of the Annual Statement.
Prerequisites:
No advance preparation or prerequisite is required for this comprehensive introductory seminar. Those interested in a more concise survey of the contents of the Annual Statement should consider the Statutory Financial Reporting seminar, rather than this seminar.
Class Times:
Class begins at 8:30 a.m. and ends at 5:00 p.m. except on the last seminar day which adjourns at 12:15 p.m.
Estimated CPE Credit: 28.0 hours
Tuition: $2195
Note(s):
Companies that use TCP (our Annual Statement software package) and send staff to this seminar will receive the Handbook as a context-sensitive help file for use within TCP, at no additional cost.
Upcoming seminar dates and locations:
There are no upcoming dates for this seminar.
Look for our 2012 schedule in February/March.
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To register by mail and pay by check, click here.