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3. Schedule D of NAIC form 1A reflects deposits and withdrawals
of securities from a trust account at book value, whereas
NAIC form 1 reflects purchases and sales of bonds and stocks
at transaction prices;
4. NAIC form 1A does not include a reconciliation of capital
and surplus from the prior year to the current year, but
NAIC form 1 does include such a reconciliation.
The Office of the Superintendent of Financial Institutions
Canada (OSFI), Ottawa, Canada, also requires petitioner to file
an annual statement (OSFI statement) reflecting its total
business in both Canada and the United States. The reporting and
accounting requirements for assets, liabilities, income, and
expenses for purposes of the OSFI statement are different in a
number of respects from those for NAIC forms.
G. Petitioner's Assets and Surplus
Petitioner reports on its NAIC form 1A the following
percentage distribution of assets relating to its U.S.
operations:
1988 1989 1990
Bonds 11.6% 15.0% 20.6%
Mortgage loans 58.8 58.3 63.5
Real estate 1.2 2.0 2.3
Cash 15.5 12.7 6.1
Policy loans 12.9 12.0 7.4
Stocks 0.0 0.0 0.1
Total 100.0 100.0 100.0
Based on its OFSI statements, petitioner has the following
percentage distribution of assets in connection with its
worldwide operations:
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Last modified: May 25, 2011