BULLETIN B 02-16

TO: ALL DOMESTIC INSURERS AND OTHER INTERESTED PARTIES

RE: ANNUAL STATEMENT SUMMARY REQUIRED UNDER 3 AAC 21.320

 The Division of Insurance’s new investment regulations (3 AAC 21.201 - 3 AAC 21.399) went into effect December 28, 2001. Under 3 AAC 21.320(c), all domestic insurers are required to supplement their annual financial statement "with a reconciliation and summary of the insurer’s assets and reserve requirements. . . ." Although a report form was not included in the regulation, the information required to be filed is listed in 3 AAC 21.320(a) and (b).

As many of our domestic insurers did not submit the required summary along with their annual statements, we are enclosing a report form that may be used to fulfil the requirements under 3 AAC 21.320. The division expects all domestic insurers to submit this additional information for the year ending December 31, 2001 by August 15, 2002. All future annual statements must be accompanied by the summary required under 3 AAC 21.320.

If you have questions regarding this bulletin, please contact Richard Foster at (907) 269-7904 or via electronic mail at richard_foster@commerce.state.ak.us