Tag Archives: long-duration insurance contracts

Market risk benefits: What is in scope?

The Financial Accounting Standards Board recently approved changes to the accounting for long-duration insurance contracts. This included the creation of a new category of benefits called market risk benefits. This paper by Milliman consultant William Hines discusses market risk benefits and contract features that might be within their scope.

U.S. GAAP targeted improvements for long-duration insurance contracts: Update II

The Financial Accounting Standards Board (FASB) has proposed changes to the accounting for long-duration insurance contracts in four major areas. In this paper, Milliman consultants William Hines and Karthik Yadatore summarize the FASB’s original proposal and outline the key changes made during the re-deliberations.