Statutory Accounting for Nonadmitted Assets

  • Insurance
  • Treasury & Other Assets
  • Intermediate

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.