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Fundamentals of Life Statutory Accounting and Reporting - November 2013  -  November 5-6, 2013

8:00 am

DAY ONE - Tuesday November 5

  • Registration and continental breakfast open
  • All sessions taught by Kevin Oates
8:30 am

Introduction and Overview

  • Definitions and industry summary
    • Risk factors
    • Product overview
  • Regulatory concepts
  • Statutory vs. GAAP Accounting
    • Major differences
    • Illustrations of specific financial impacts
10:15 am

Refreshment Break

10:30 am

Introduction to Life Insurance Accounting

  • Major items 
  • Filing dates
  • Data included
  • Information value and uses
  • Audited financial statements
12:00 pm


1:00 pm

Asset Accounting

  • Non-admitted assets
  • Asset support schedules
  • Illustrations of the impact on the balance sheet of basic premium and loss transactions
  • Investment income accounting
    • Accounting for investment income
    • Rules for gains and losses
  • Accounting for investment expenses
2:15 pm

Refreshment Break

2:30 pm


  • Capital account
  • Capital structure of companies
    • Statutory adjustments
    • Surplus notes
  • Policyholders' surplus
  • Changes in capital
5:00 pm

Day One concludes

8:00 am

DAY TWO - Wednesday November 6

Continental breakfast opens.
8:30 am

Balance Sheet Assets

  • Description/Definition
  • Flows from the P&L
10:15 am

Refreshment Break

10:30 am

Summary of Operations

  • Formulas
  • Earned vs. unearned
12:00 pm


1:00 pm

Liabilities and Capital

  • Loss cycles
  • Incurred loss formulas
  • Loss reserves
2:15 pm

Refreshment Break

2:30 pm


  • Definitions
  • Functions and uses
  • Impact upon financial statements
  • Schedule S
5:00 pm

Day Two concludes

Kevin Oates
Instructor, SNL Knowledge Center

Kevin has spent his entire career in the insurance industry and since 1996 has worked as independent consultant and instructor conducting in-house and open enrollment training for Wall Street and industry firms.

Prior to 1996 he was senior vice president of an international insurance/reinsurance consulting firm, providing management and accounting services to private and public institutions.

Kevin's industry management background includes executive financial positions with holding companies, underwriting organizations, and as vice-president of reinsurance operations with a reinsurance intermediary. In 1988, he co-founded a consulting firm, which was subsequently merged into an international network.

His instructing background includes positions as an adjunct instructor of accounting at Queens College, Rutgers University, and as an instructor in property/casualty insurance accounting and annual statement preparation at the New York College of Insurance.

Kevin is a graduate of New York University, and received an MBA in Corporate Finance from Rutgers University. He is a Fellow of the Life Management Institute (FLMI), and holds the Associate in Reinsurance (ARE), and Associate in Insurance Accounting and Finance (AIAF) designation from the Insurance Institute of America. He is the author of the Reinsurance Accounting Chapter of the Strain Reinsurance Textbook and a contributing author to the NAIC Receiver's Handbook.

Event Date:
November 5-6, 2013
Event Location:
Downtown Conference Center
157 William Street
New York, NY, US
Registration Fee:

Special offer: Register for this course in conjunction with Financial Analysis for a combined price of $3,300.  Call 888-991-7786 to register and redeem this offer.

  • Your registration includes all program work materials, plus continental breakfast and lunch both days.
  • Discounts available for groups of three or more. Call us at (434) 951-7786.



Life Statutory Accounting and Reportingprovides a foundational knowledge of the accounting and reporting practices of life insurers. It is of highest value to:

  • Buy-side and sell-side investment analysts needing the first step towards understanding and analyzing life insurers
  • Entry-level insurance company accounting and audit professionals
  • Life insurance underwriters looking for insight into the financial effects of their activities on the company
  • Insurance company IT professionals wanting to understand the accounting and reporting flows that are the basis of their projects
  • Legal advisors and management consultants engaged in developing a big picture understanding of the life insurance business


This program presumes an interest in learning the foundations of the life insurance business and accounting.

Event Date:
November 5-6, 2013
Downtown Conference Center
157 William Street
New York, NY, US
Although lodging is not provided as part of this program, the hotels listed below are convenient to the Downtown Conference Center. Please call the Downtown Conference Center to inquire about negotiated rates or with any other lodging related questions (212) 618-6990.

Millennium Hilton
55 Church St.

Gild Hall
15 Gold St.

Best Western Seaport Inn
33 Peck Slip

Hampton Inn Seaport
320 Pearl St.

Conrad Hotel
102 North End Ave.

Eurostars Wall Street Hotel 
129 Front St.

Wall Street Inn
9 S William St.

Ritz-Carlton Battery Park
2 West St.
CFA Institute

14 Hours of Continuing Education Credit
SNL Knowledge Center is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 14 CE credit hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for your attendance at this event will be automatically recorded in your CE Diary upon request.

National Association of State Boards of Accountancy
16 Hours of Continuing Education Credit
Participants who complete this program qualify for 16 hours of CPE credit (Accounting). Program Level: Beginner. Delivery Method: Group-Live. SNL Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417. Website: www.nasba.org.

What is the dress code?
Business casual.

Do I need a laptop?

Are meals included?
Your registration includes continental breakfast and lunch both days.

What is the cancellation policy?
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another SNL Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

SNL Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. SNL Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. SNL Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, SNL Knowledge Center will refund the registrant's tuition in full, however SNL Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

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