FASB Decides on Market Risk Benefits and Updates to Assumptions for Long-Duration Insurance Contracts
Nov 25, 2015
From the Financial Reporting Network
This edition of Issues & Trends In Insurance reports that the FASB recently decided that insurance entities would present in other comprehensive income the changes in the fair value of market risk benefits attributable to their own credit risk for certain nontraditional long-duration contracts. The FASB also changed its previous decisions on the timing and frequency of updating assumptions used to measure long-duration insurance contracts.