The biggest overhaul of insurance accounting in 30 years advanced a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to align financial statements worldwide, the U.S. …
Swiss Re announced that its latest sigma study “takes a fresh look at the progress in the long-running debate to make insurance accounting practices more economically relevant and internationally comparable.” The study – “Insurance accounting reform: a glass half empty …
New accounting rules intended to align U.S. insurers’ varied approaches to accounting for deferred acquisition costs (DAC) will negatively affect insurers’ reported equity and some of the financial metrics that the companies report, but will have no direct effect on …
