Gains and losses are automatically assigned to either the AVR or IMR during the ISTAR Refresh process based on NAIC guidelines for determining credit (AVR) and non-credit (IMR) related losses. Factors that are used in this determination include:
Security type
Maximum NAIC Designation during the holding period
Change in NAIC Designation during the holding period
In addition to the ISTAR determination, gains and losses on sales and impairments can be classified as credit or non-credit related. Any credit related losses are reported on the AVR and all non-credit related losses are reported on the IMR.
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