Convention statement

An annual statement filed by a life insurance company in each state where it does business in compliance with that state's regulations. The statement and supporting documents show, among other things, the assets, liabilities, and surplus of the reporting company.

Convention Statement

A statement a life insurance company must file with a state government each year. Requirements for convention statements vary by state, but all states mandate that the company report its assets, liabilities, and current surplus. A single life insurance company must file a convention statement in each state where it does business.

References in periodicals archive ?

became the first company to computerize the print version of the NAIC Annual/Quarterly Convention Statement.

Annual checkup: the U.S. insurers' annual statement has evolved from a fraud detector into a critical tool for demonstrating solvency