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

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 by Milliman actuaries William Hines, Zi Xiang Low, and Karthik Yadatore summarizes the main resulting changes to the accounting of life insurance and annuity products.

Leave a Reply

Your email address will not be published. Required fields are marked *