Statutory accounting principles

The Statutory Accounting Principles are a set of accounting rules for insurance companies set forth by the National Association of Insurance Commissioners. They are used to prepare the statutory financial statements of insurance companies. With minor state-by-state variations, they are the basis for state regulation of insurance company solvency throughout the United States.

The rules are issued as discussion drafts, and public comments are solicited, before they are codified in the NAIC Accounting Practices and Procedures Manual.