Financial statements prepared utilizing statutory insurance accounting principles, prescribed or permitted by the respective departments of insurance, are filed quarterly with the National Association of Insurance Commissioners.  The financial information in these statements are utilized by regulators, rating agencies, reinsurers and other third parties to assess the financial strength and stability of the insurer.  As a CEO or board member of an insurer, you need to understand how the financial statements may be interpreted by these recipients.

Key takeaways from the seminar include:

• Appreciation of the financial review and analysis undertaken by regulators
• Appreciation of the review and analysis undertaken by rating agencies
• Brief overview of key pages of the annual statement including assets, liabilities, income statement and Schedule P loss and loss adjustment expense reserve development
• A process for evaluating the quality of earnings – yours and the competition's.
• Introduction to the Financial Accounting Standards Board's perspective on Loss and Loss Adjustment Expense Disclosures
• Introduction to Accounting Standards Update 2014-15 - Going Concern.