Annual Statement & Financial Filings

The Annual Statement

The NAIC Annual Statement (also called the "Yellow Book" for P&C) is the primary financial report insurance companies file with regulators. It includes the balance sheet, income statement, cash flow, investment schedules, loss and loss adjustment expense reserves, and dozens of supplemental exhibits.

Preparation Assistance

Data Validation ` I am preparing our annual statement. Help me design validation checks for these critical schedules:

SCHEDULE P (Loss and LAE reserves): - Do all triangles sum correctly (across and down)? - Does the total tie to the balance sheet reserve line? - Are development patterns consistent with last year? - Do one-year and two-year development amounts look reasonable?

SCHEDULE T (Premium by state): - Does the total tie to the income statement? - Are there any states where we show premium but no filing/license? - Year-over-year changes: any state with >20% change needing explanation?