United States

FASB Chooses Accounting Model for Certain Benefits in Nontraditional Long-Duration Insurance Contracts

Sep 24, 2015
From the Financial Reporting Network

This edition of Issues & Trends In Insurance reports that the FASB recently discussed three alternative accounting models to determine how to account for certain benefits in nontraditional long-duration insurance contracts. The FASB decided that benefits with other-than-nominal capital market risk would be measured at fair value. The FASB also discussed accounting for participating life insurance contracts but made no decisions.