Principle-Based Reserves (PBR)
On June 14, 2023, Governor Shapiro signed Act 2 of 2023 into law (40 Pa.C.S. § 7143). This law gives the Pennsylvania Insurance Commissioner the authority to adopt the exemption provisions of the NAIC Valuation Manual.
A notice was published in the PA Bulletin adopting the exemption provisions outlined in the January 1, 2026 edition of the NAIC Valuation Manual. As such, a company need not file a renewed request for exemption if it satisfies the conditions of Part II, Subsection 1:G of the Valuation Manual. Please direct all questions to your assigned analyst.
For additional details, view the Adoption of Standards for Exemption; Pennsylvania Bulletin Notice 2025-12.
Annual Statements
Instruction Document Reference Links
- Note D: Premium Taxes - Pennsylvania Department of Revenue
- Premium tax filings are not processed by the PA Insurance Department. If received, they will be returned to the company. Companies should mail premium tax payments directly to the Pennsylvania Department of Revenue.
- Note Q: NAIC Accounting and Reporting Resources (PDF)
- Note R: Audit/Internal Control Related Reports (PDF)
- Note T: Life and Fraternal Valuation Filing Instructions (PDF)