U.S. GAAP Targeted Improvements for Long Duration Insurance Contracts

  • Print
  • Connect
  • Email
  • Facebook
  • Twitter
  • LinkedIn
  • Google+
By William C. Hines, Zi Xiang Low, Karthik Yadatore | 06 September 2018
The Financial Accounting Standards Board issued accounting standard update 2018-12 on August 15. It contained targeted changes to the accounting for long-duration insurance contracts. This paper summarizes the main resulting changes to the accounting of life insurance and annuity products.