Northern Trust has created two new reports to assist insurance accounting clients in completing their year-end statutory filings.
Available via Northern Trusts online portal Passport, the two new reports provide clients with information required to prepare the Exhibit of Capital Gains (Losses) and Exhibit of Net Investment Income. The reports combine asset, income and transactional information from various Schedule D, DA, BA, and DB filings into a consolidated, fully automated format for the required regulatory exhibits.
“Insurance companies face continually increasing reporting requirements from the various regulatory agencies,” said Dennis Case, product manager for Northern Trust’s Insurance Services group. “Northern Trust is always looking for ways to enhance our service offering to reinforce our commitment to the insurance industry.
Insurance client Phil Martell, assistant controller of medical insurer Coverys, said: Northern Trust has created reports that will greatly reduce the amount of time we spend putting different exhibits together. We appreciate the work they have done on our behalf to help us complete our annual statutory reporting.
(JDC)