How often must insurance companies file their financial reports with regulators?

Insurance companies are required to file their financial reports with regulators annually. This annual reporting allows regulators to assess the financial health and stability of insurers, ensuring they meet necessary solvency standards and can fulfill their obligations to policyholders. The annual reports provide comprehensive insights into an insurer's financial position, including balance sheets, income statements, and cash flow statements.

This frequency of reporting is designed to strike a balance between providing regulators with sufficient information to monitor the health of the insurance industry and allowing companies time to compile accurate financial data without overwhelming them with requirements that would divert resources away from their core operations. Other reporting schedules, such as weekly or monthly, would likely be too burdensome and inefficient, while reporting every two years would not provide timely insights into an insurer’s ongoing financial condition.