https://www.insurerbrain.com/w/index.php?action=history&feed=atom&title=Definition%3AAnnual_statementDefinition:Annual statement - Revision history2026-06-13T21:47:08ZRevision history for this page on the wikiMediaWiki 1.43.8https://www.insurerbrain.com/w/index.php?title=Definition:Annual_statement&diff=7253&oldid=prevPlumBot: Bot: Creating new article from JSON2026-03-10T12:43:20Z<p>Bot: Creating new article from JSON</p>
<p><b>New page</b></p><div>đź“‹ '''Annual statement''' is the comprehensive financial report that every licensed [[Definition:Insurance carrier | insurance carrier]] in the United States must file with state [[Definition:Insurance regulation | regulators]], providing a detailed snapshot of the company's financial condition at year-end. Often called the "statutory annual statement" or simply the "blank" (after the standardized form templates), it follows [[Definition:Statutory accounting | statutory accounting principles (SAP)]] prescribed by the [[Definition:National Association of Insurance Commissioners (NAIC) | NAIC]] rather than GAAP, because SAP is designed to prioritize [[Definition:Solvency | solvency]] assessment and [[Definition:Policyholder | policyholder]] protection over earnings presentation.<br />
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📑 The statement is composed of numerous schedules and exhibits—covering [[Definition:Premium | premiums]] written and earned, [[Definition:Loss reserve | loss reserves]], [[Definition:Reinsurance | reinsurance]] recoverables, [[Definition:Investment portfolio | investment]] holdings, [[Definition:Risk-based capital (RBC) | risk-based capital]] calculations, and management discussion—that together give regulators a multidimensional view of the insurer's health. Property and casualty filers use the "yellow blank," while life and health companies use the "blue blank," each tailored to the risk profiles of those lines. Carriers must submit the filing electronically through the NAIC's Financial Data Repository, typically by March 1 for the preceding calendar year, and the data becomes the foundation for the NAIC's [[Definition:Financial analysis | financial-analysis]] solvency tools and [[Definition:Insurance Regulatory Information System (IRIS) | IRIS]] ratio tests.<br />
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🔎 For anyone analyzing an insurer—whether a [[Definition:Reinsurance broker | reinsurance broker]] evaluating counterparty strength, a [[Definition:Managing general agent (MGA) | MGA]] selecting capacity partners, or a rating agency assigning a [[Definition:Financial strength rating | financial strength rating]]—the annual statement is the single most authoritative public document available. Its granular detail enables trend analysis of [[Definition:Loss ratio (L/R) | loss ratios]], reserve adequacy, and capital sufficiency that consolidated GAAP filings simply do not provide. Failure to file on time—or material misstatements within the filing—can trigger regulatory action ranging from heightened surveillance to license suspension, underscoring how central this document is to the supervisory framework.<br />
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'''Related concepts'''<br />
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* [[Definition:Statutory accounting]]<br />
* [[Definition:National Association of Insurance Commissioners (NAIC)]]<br />
* [[Definition:Risk-based capital (RBC)]]<br />
* [[Definition:Loss reserve]]<br />
* [[Definition:Financial strength rating]]<br />
* [[Definition:Quarterly statement]]<br />
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