In March 2024, the National Association of Insurance Commissioners (NAIC) adopted the new Principles Based Bond Definition (PBBD). This new definition narrows what is considered a bond. Our most recent whitepaper breaks down the change, giving you clear analysis of the new regulation and actionable implications.

The revisions and discussions detailed within reflects a comprehensive review, referred to as the “Principles-Based Bond Project,” to establish principal concepts for determining whether a …

2024年8月21日 · T he National Association of Insurance Commissioners (NAIC) has inaugurated a new phase in financial oversight with its NAIC REF 2019-21, the principles-based bond definition (PBBD) project, transitioning from a prescriptive regulatory model to one that emphasizes the judgment of insurers.

Participation – A bank loan participation is defined as a fixed-income investment in which a single lender makes a large loan to a borrower and subsequently transfers (sells) undivided interests …

1. Principles-based bond definition (PBBD) implementation is a heavy lift but is aided by the newly-adopted PBBD Q&A document and financial impacts should be limited. After months of analyzing individual Schedule D securities for continued bond treatment, insurers appear ready to implement PBBD on 1/1/25. To aid in the analysis,

Known as the Principles-Based Bond Definition (PBBD) Project, the guidance is a comprehensive overhaul of the bond definition and classification process, utilizing a principles-based methodology.

2024年6月10日 · NAIC REF 2019-21, better known as the Principles Based Bond Definition (PBBD) Project, is an overhaul of the definition and identification of bonds using a principles-based approach. The guidance significantly revises SSAP No. 26R, Bonds, No. 43R, Asset-Back Securities and No. 21R, Other Admitted Assets.

As we near the 1 January 2025 “go-live” date of the NAIC’s Principles-Based Bond Definition (PBBD), US insurers are grappling with classification methodologies, operational needs, and monitoring and reporting processes.

2024年10月10日 · The National Association of Insurance Commissioners (NAIC) has finalized the Principles-Based Bond Definition (PBBD) Project, a significant milestone that modernizes statutory accounting principles for bonds. This project revises SSAP No. 26R, 43R, and 21R to adopt a principles-based approach that emphasizes economic substance over legal form.

2024年9月10日 · Follow these tips for a smooth transition. The Principles-Based Bond Project — which originally appeared on the National Association of Insurance Commissioners (NAIC) 2019 agenda topics — was finalized on March 16, 2024, and will take effect on Jan. 1, 2025.