Statutory Accounting for Nonadmitted Assets
Certain assets are nonadmitted for SAP filers as the assets are not liquid or available to pay liabilities when due. Assets are reduced by amounts deemed nonadmitted with a reduction to surplus.
This OnDemand Learning session details the common nonadmitted assets and provides examples for how to account for them in the statutory-basis financial statements, including the necessary journal entries required. A walkthrough of the NAIC Annual Statement presentation of nonadmitted assets is also included.
