Risk-based capital and asset valuation reserves
are unaffected," she said.
Temporary differences include unrealized gains and losses and nonadmitted assets, but do not include differences between SAP and tax for asset valuation reserves
, interest maintenance reserves, Schedule F penalties, policyholder surplus attributable to stock life insurance companies prior to 1984 and, in the case of a mortgage guaranty insurer, amounts attributable to a statutory contingency reserve to the extent "tax and loss" bonds have been purchased.
Capital and surplus, including asset valuation reserves
(AVR), rose to $237 billion from $210 billion.
related to asset valuation reserves
required at international
However, the companies' asset valuation reserves
- a liability insurers are required to maintain in order to insulate capital from investment losses - declined $36 billion, or 15%, reflecting deductions from the reserve as capital losses were realized.
Asset valuation reserves
of approximately $3 million for a
91 per share, when the company reduced previously recorded deferred tax asset valuation reserves
5 million of charges for asset valuation reserves
resulting from the company's product line transition to its XL platform; and (iii) approximately $1 million of R&D costs related to nonrecurring engineering and the acquisition of certain technologies being used in the company's new ATM and Ethernet switching development program.