Pinnacle Assurance issues clean statutory-basis opinion; GAAP differences and related-party items noted
Johnson Lambert's audit found no material weaknesses in Pinnacle Assurance's 2024 statutory-basis financial statements, while noting statutory vs. GAAP differences, a surplus note, and related-party transactions with subsidiary CAKE and the Attune software acquisition.
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The Legislative Audit Committee reviewed Pinnacle Assurance's audited statutory financial statements for the year ended Dec. 31, 2023 (presented May 27) and heard from Johnson Lambert, the contracted auditors, that they issued an unmodified opinion on the statutory-basis statements and identified no material weaknesses in internal control.
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