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The calculation of statutory values requires validation of accounting information and NAIC coding, the valuation of positions based on current pricing, and the management of the cycle through the various processing stages, prior to freezing all information for the accounting period. The following table describes the stages and processing impacts during the calculation of statutory values.

Stage

Description

Impact

Daily Operations

Transaction processing is active:

  • Eagle STAR and Eagle STAR for Insurance accounting periods are open.
  • Reference data is loaded to the core Eagle STAR and Eagle PACE tables, including data feeds required for Statutory Accounting.

Prices, NAIC designations, SVO categories/ subcategories

Validation

Daily validation and reconciliation of accounting activity.

Opens/Closes, Pricing, Reference data

Refresh / Valuation

Statutory accounting process that maintains synchronization between Eagle STAR core and ISTAR component tables. The process:

  • Populates the Eagle Insurance warehouse (ISTAR) with security, lot position, lot activity, and summary table values. Data is stored by client and entity.
  • Establishes both Schedule assignment and placement by examining security type, acquisition to maturity date, and NAIC information.
  • Calculates statutory values, such as statement value, market value, and book value, based on company type, pricing hierarchy, and the available reference information.
    The process may be run before/after NAIC month end ratings and pricing files have been loaded in either full-load (table purge and add) or delta (change only) mode.

ISTAR Ledger Period Status value = 'P'

Freeze

This process "locks" statutory valuation results, making statutory valuations complete and final.
Once freeze processing has executed, all ISTAR report data remains static for the "as of" statutory reports.

ISTAR Ledger Period Status value = 'F'

Re-Open

Frozen ISTAR accounting periods may be re-opened to capture changes in reference information or transactions, within the re-opened accounting period.

ISTAR Ledger Period Status value = 'O'

Table 1: Processing Stages – Calculation of Statutory Values

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