Annual Statement

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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). Class time 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
• 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:

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