{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/310/944/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"310-944","topic":"310","title":"Financial Services—Insurance","area":"Assets","paragraphs":47,"summary":"ASC 310-944 tells insurance entities how to account for receivables: mortgage loans held as investments, reinsurance recoverables, and premium receivables on financial guarantee insurance contracts. Mortgage loans are recognized as assets at principal (or cost if bought at a discount/premium) and carried at amortized cost with an allowance for expected credit losses under Topic 326-20; reinsurance recoverables must be reported gross as assets (no netting against related liabilities absent a legal right of setoff). For financial guarantee contracts with installment premiums, the premium receivable is measured at the present value of premiums expected to be collected using a risk-free rate at inception, with the discount accreted to earnings.","concepts":["mortgage loan receivables","reinsurance recoverable","premium receivable","financial guarantee insurance contract","unearned premium revenue","risk-free discount rate accretion","prepayment assumptions","right of setoff"],"categories":["Recognition","Initial measurement","Subsequent measurement","Industry-specific"],"level":"intermediate","topic_title":"Receivables","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"310-944-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Reinsurance RecoverableAddedAccounting Standards Update No. 2016-1912/14/2016
944-310-05-1AmendedAccounting Standards Update No. 2016-1912/14/2016
944-310-05-2AmendedAccounting Standards Update No. 2016-1912/14/2016
944-310-25-2AmendedAccounting Standards Update No. 2016-1912/14/2016
944-310-35-3AmendedAccounting Standards Update No. 2016-1306/16/2016
944-310-35-4AmendedAccounting Standards Update No. 2016-1912/14/2016
944-310-35-4AmendedAccounting Standards Update No. 2016-1306/16/2016
944-310-35-6AmendedAccounting Standards Update No. 2016-1306/16/2016
944-310-45-1AmendedAccounting Standards Update No. 2018-0907/16/2018
944-310-45-2AmendedAccounting Standards Update No. 2018-0907/16/2018
944-310-45-4AmendedAccounting Standards Update No. 2016-1306/16/2016
944-310-45-4ASupersededAccounting Standards Update No. 2016-1306/16/2016
944-310-45-5AmendedAccounting Standards Update No. 2016-1912/14/2016
944-310-45-6AmendedAccounting Standards Update No. 2016-1912/14/2016
944-310-50-1AmendedAccounting Standards Update No. 2018-0907/16/2018
944-310-50-2AmendedAccounting Standards Update No. 2016-1912/14/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nReinsurance Recoverable | Added | Accounting Standards Update No. 2016-19 | 12/14/2016 |…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:61b8b31063f5f46e8d29cb0da5f399294a16270c8012c94b4502a2fa26cdac04","downloaded_from":"2026-09-09T23:29:42.889Z","last_downloaded_at":"2026-09-09T23:29:42.889Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477695","source_sha256":"1c4d38273d546b93fe1d639a1003168505aef60bb470a62996b6a650b2c38514"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b469ff1561d447d397a9c8f559ad2c12c99efdb7d4c7c0448e663b8e8772c12","downloaded_from":"2026-09-09T23:29:42.889Z","last_downloaded_at":"2026-09-09T23:29:42.889Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477695","source_sha256":"1c4d38273d546b93fe1d639a1003168505aef60bb470a62996b6a650b2c38514"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3e817be3a6538d412104ed0b053496cb35602ca14d64c37739cab25a78af0c4e","downloaded_from":"2026-09-09T23:29:42.889Z","last_downloaded_at":"2026-09-09T23:29:42.889Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477695","source_sha256":"1c4d38273d546b93fe1d639a1003168505aef60bb470a62996b6a650b2c38514"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"310-944-05-1","para":"05-1","html":"
This Subtopic provides guidance to insurance entities on accounting for and financial reporting of receivables, including mortgage loan receivables and reinsurance recoverables. The guidance in this Subtopic is provided in the following three Subsections:
  1. a
    General
  2. b
    Reinsurance Contracts
  3. c
    Financial Guarantee Insurance Contracts.
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The Reinsurance Contracts Subsections of this Subtopic provide guidance to insurance entities on accounting for and financial reporting of reinsurance recoverables.
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The Financial Guarantee Insurance Contracts Subsections of this Subtopic provide guidance to insurance entities on accounting for and financial reporting of premium receivable for financial guarantee insurance contracts.
","snippet":"The Financial Guarantee Insurance Contracts Subsections of this Subtopic provide guidance to insurance entities on accounting for and financial reporting of premium receivable for financial guarantee insurance contracts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d206eb9cfa29e95754f4ddbfd089783be7f35426e80463a3a4ef53dda9c90d71","downloaded_from":"2026-09-09T23:29:46.208Z","last_downloaded_at":"2026-09-09T23:29:46.208Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478304","source_sha256":"7efe432dc124a8f79f92e80634b97b3f208c6a16cf5fbd043a76735bb38c6809"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:10e4b6e1d5abbcb19072dc17207f3a0cd1f1c7245061dd16542799383aaef8df","downloaded_from":"2026-09-09T23:29:46.208Z","last_downloaded_at":"2026-09-09T23:29:46.208Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478304","source_sha256":"7efe432dc124a8f79f92e80634b97b3f208c6a16cf5fbd043a76735bb38c6809"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03b71054738ebfe5d4d209f0ade9e70ae202f31b2114ee421489d216c8cadb33","downloaded_from":"2026-09-09T23:29:46.208Z","last_downloaded_at":"2026-09-09T23:29:46.208Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478304","source_sha256":"7efe432dc124a8f79f92e80634b97b3f208c6a16cf5fbd043a76735bb38c6809"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"310-944-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 944-10-15.
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The Reinsurance Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Section, with specific instrument qualifications noted below.
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The guidance in the Reinsurance Contracts Subsections of this Subtopic applies only to reinsurance contracts. For guidance on identifying a reinsurance contract, see the Reinsurance Contracts Subsection of Section 944-20-15.
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The guidance in the Financial Guarantee Insurance Contracts Subsections of this Subtopic applies to all financial guarantee insurance contracts. For guidance in identifying a financial guarantee insurance contract, see the Financial Guarantee Insurance Contracts Subsection of Section 944-20-15.
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Mortgage loans shall be recognized as assets.
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Ceding entities shall report separately as assets estimated reinsurance recoverables arising from both of the following types of contracts:
  1. a
    Reinsurance contracts that are legal replacements of one insurer by another (often referred to as assumption and novation)
  2. b
    Reinsurance contracts in which a ceding entity is not relieved of the legal liability to its policyholder.
","snippet":"Ceding entities shall report separately as assets estimated reinsurance recoverables arising from both of the following types of contracts:\n(a) Reinsurance contracts that are legal replacements of one insurer by another …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0a44ae28edf072355695d65cc3c7113df1a968b2df3f02bd7904f10b5fe21764","downloaded_from":"2026-09-09T23:29:56.043Z","last_downloaded_at":"2026-09-09T23:29:56.043Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478283","source_sha256":"96a034a0aa60ece3dab0e5884f10d7e65d7d66601ef85c8510045b735bc25d7b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ea7855dab79fefe692fb188cae773bc24fc883db794e46f59c40340324a0c84","downloaded_from":"2026-09-09T23:29:56.043Z","last_downloaded_at":"2026-09-09T23:29:56.043Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478283","source_sha256":"96a034a0aa60ece3dab0e5884f10d7e65d7d66601ef85c8510045b735bc25d7b"}},{"block":"Financial Guarantee Insurance Contracts","heading":null,"paragraphs":[{"citation":"310-944-25-3","para":"25-3","html":"
Paragraph 944-605-30-7 states that if the premiums are received as payments over the period of the financial guarantee insurance contract, the insurance entity shall initially measure the unearned premium revenue at an amount equal to the present value of the premiums due or expected to be collected over the period of the financial guarantee insurance contract. Example 1 in Section 944-605-55 (see paragraph 944-605-55-16) illustrates the application of this paragraph. Paragraph 944-310-30-2 provides guidance on the discount rate and the period used.
","snippet":"Paragraph 944-605-30-7 states that if the premiums are received as payments over the period of the financial guarantee insurance contract, the insurance entity shall initially measure the unearned premium revenue at an a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:02bdd0de91bad95a6d9e8a146135f3bede4c9458d8272f9b6b80f2d138395d3f","downloaded_from":"2026-09-09T23:29:56.043Z","last_downloaded_at":"2026-09-09T23:29:56.043Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478283","source_sha256":"96a034a0aa60ece3dab0e5884f10d7e65d7d66601ef85c8510045b735bc25d7b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f735bc67ff5c7b2f8c8cce1a94efea21f711d49159d8df4fdabecb0d1b1eff4d","downloaded_from":"2026-09-09T23:29:56.043Z","last_downloaded_at":"2026-09-09T23:29:56.043Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478283","source_sha256":"96a034a0aa60ece3dab0e5884f10d7e65d7d66601ef85c8510045b735bc25d7b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de99a205770c4af9f23c18c86b03284a2aca3a5ffaec2c6e8b38e530a83d0841","downloaded_from":"2026-09-09T23:29:56.043Z","last_downloaded_at":"2026-09-09T23:29:56.043Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478283","source_sha256":"96a034a0aa60ece3dab0e5884f10d7e65d7d66601ef85c8510045b735bc25d7b"}},{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":"Mortgage Loans","paragraphs":[{"citation":"310-944-30-1","para":"30-1","html":"
Mortgage loans recognized under paragraph 944-310-25-1 shall be measured initially at outstanding principal balances if acquired at par value, or at cost if purchased at a discount or premium.
","snippet":"Mortgage loans recognized under paragraph 944-310-25-1 shall be measured initially at outstanding principal balances if acquired at par value, or at cost if purchased at a discount or premium.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27bed0634e16d13341993ab374e16fb827d5c141b3a8450e333f03db56ec56e5","downloaded_from":"2026-09-09T23:29:59.994Z","last_downloaded_at":"2026-09-09T23:29:59.994Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479565","source_sha256":"2ebf084c1fd3666736a2378f93ac64315c52507e1c5d2cb92548dd306dcfa151"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03472ab0056cc832ef7815da136399c3fbc472406efb6ac52c2d32bc52847b04","downloaded_from":"2026-09-09T23:29:59.994Z","last_downloaded_at":"2026-09-09T23:29:59.994Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479565","source_sha256":"2ebf084c1fd3666736a2378f93ac64315c52507e1c5d2cb92548dd306dcfa151"}},{"block":"Financial Guarantee Insurance Contracts","heading":"Receivable for Future Premiums","paragraphs":[{"citation":"310-944-30-2","para":"30-2","html":"
An insurance entity shall determine the present value of the premiums due or expected to be collected using a discount rate that reflects the risk-free rate at the inception of the contract. The risk-free rate shall be based on the contract period of the insurance contract unless the insurance entity is permitted to consider prepayments pursuant to the following paragraph. The discount amount shall be accreted on the premium receivable through earnings over that same period. Example 1 (see paragraph 944-310-55-1) illustrates application of this guidance including the method of accretion.
","snippet":"An insurance entity shall determine the present value of the premiums due or expected to be collected using a discount rate that reflects the risk-free rate at the inception of the contract. The risk-free rate shall be b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a957a5f1823526276aa4e5d82b138dce0b08ab541dd4a6cb46b7025fd25b1c8","downloaded_from":"2026-09-09T23:29:59.994Z","last_downloaded_at":"2026-09-09T23:29:59.994Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479565","source_sha256":"2ebf084c1fd3666736a2378f93ac64315c52507e1c5d2cb92548dd306dcfa151"}},{"citation":"310-944-30-3","para":"30-3","html":"
The period of a financial guarantee insurance contract is the expected period of risk that generally equates to the contract period. However, in some instances, the expected period of risk is significantly shorter than the full contract period due to expected prepayments. The expected period may be used only if a homogenous pool of assets underlying the insured financial obligation is contractually prepayable. In those instances, prepayment assumptions may be used to determine an expected period if those prepayments are probable and the timing and amount of prepayments can be reasonably estimated. The election to use prepayment assumptions to determine an expected period is an accounting policy decision (that is, it is not a contract-by-contract election).
","snippet":"The period of a financial guarantee insurance contract is the expected period of risk that generally equates to the contract period. However, in some instances, the expected period of risk is significantly shorter than t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e07d77c7575f6d504472440c2ed7773c22fba139c2bee16caefa9cd294de476","downloaded_from":"2026-09-09T23:29:59.994Z","last_downloaded_at":"2026-09-09T23:29:59.994Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479565","source_sha256":"2ebf084c1fd3666736a2378f93ac64315c52507e1c5d2cb92548dd306dcfa151"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:419e9f6ae164cf55cbd40d5e3b7ca6e687a991d00bdce043dce67629c17e5594","downloaded_from":"2026-09-09T23:29:59.994Z","last_downloaded_at":"2026-09-09T23:29:59.994Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479565","source_sha256":"2ebf084c1fd3666736a2378f93ac64315c52507e1c5d2cb92548dd306dcfa151"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad32f99464644b144bd6fc13419213e64748b08e386dbdde2c32639320fb7ce6","downloaded_from":"2026-09-09T23:29:59.994Z","last_downloaded_at":"2026-09-09T23:29:59.994Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479565","source_sha256":"2ebf084c1fd3666736a2378f93ac64315c52507e1c5d2cb92548dd306dcfa151"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Mortgage Loans","paragraphs":[{"citation":"310-944-35-1","para":"35-1","html":"
Mortgage loans recognized under paragraph 944-310-25-1 shall be measured subsequently at outstanding principal balances if acquired at par value, or at amortized cost if purchased at a discount or premium, with an allowance for estimated uncollectible amounts, if any.
","snippet":"Mortgage loans recognized under paragraph 944-310-25-1 shall be measured subsequently at outstanding principal balances if acquired at par value, or at amortized cost if purchased at a discount or premium, with an allowa…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a3aec0f78db4c93978becfae49a5891be7556ce4767c6abfc0681af35fea071d","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}},{"citation":"310-944-35-2","para":"35-2","html":"
Paragraph 944-310-45-3 states that amortization and other related charges or credits shall be charged or credited to investment income.
","snippet":"Paragraph 944-310-45-3 states that amortization and other related charges or credits shall be charged or credited to investment income.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3e207a5361ece1af5e6eb944e2498b7b606715a11a831560179868a4a3a4b564","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}},{"citation":"310-944-35-3","para":"35-3","html":"
Paragraph 944-310-45-4 states that changes in the allowance for credit losses relating to mortgage loans shall be included in income as prescribed in Subtopic 326-20 on financial instruments measured at amortized cost.
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Because the valuation of reinsurance recoverables depends on the terms of the reinsurance contract and on estimates used in measuring the liabilities relating to the reinsured contracts, this Subtopic does not stipulate a specific valuation method. An entity shall measure contingent losses relating to disputed amounts in accordance with Subtopic 450-20 on loss contingencies. However, the ceding entity shall measure expected credit losses relating to reinsurance recoverables in accordance with Subtopic 326-20 on financial instruments measured at amortized cost.
","snippet":"Because the valuation of reinsurance recoverables depends on the terms of the reinsurance contract and on estimates used in measuring the liabilities relating to the reinsured contracts, this Subtopic does not stipulate …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a5f57f7f801947b93821ab8e21fbe60145830d74392f5114624c7b5b37ed498","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5cdc3d85eed620b8eba48107a7862776044ee174d340eca11e79c665b722eede","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}},{"block":"Financial Guarantee Insurance Contracts","heading":"Unearned Premium Revenue","paragraphs":[{"citation":"310-944-35-5","para":"35-5","html":"
If an expected period is used as the period of the financial guarantee insurance contract to measure the unearned premium revenue, an insurance entity shall adjust the prepayment assumptions when those assumptions change. The adjustment to the unearned premium revenue shall equal the adjustment to the premium receivable with no effect on earnings at the time of the adjustment. The discount rate shall be updated to a current risk-free rate only when prepayment assumptions change. Example 1 (see paragraph 944-310-55-1) illustrates the accounting when prepayment assumptions change.
","snippet":"If an expected period is used as the period of the financial guarantee insurance contract to measure the unearned premium revenue, an insurance entity shall adjust the prepayment assumptions when those assumptions change…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a5fcc608604d54f9ba063d67a6e9e355100efa943a8c075e0396ac1f10f1e772","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}},{"citation":"310-944-35-6","para":"35-6","html":"
An insurance entity shall measure expected credit losses relating to the premium receivable in accordance with Subtopic 326-20 on financial instruments measured at amortized cost with a corresponding adjustment to earnings. The insurance entity shall consider as part of its assessment of recognition and measurement of the claim liability (see the Financial Guarantee Insurance Contracts Subsections in Subtopic 944-40) whether the premiums expected to be collected (the premium receivable) are fully collectible.
","snippet":"An insurance entity shall measure expected credit losses relating to the premium receivable in accordance with Subtopic 326-20 on financial instruments measured at amortized cost with a corresponding adjustment to earnin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a52b42e058d0496a7b9f223241e1039af321bf6ccda1bdfabd2593fdff5a2a5a","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}},{"citation":"310-944-35-7","para":"35-7","html":"
Paragraph 944-605-35-16 states that in instances where a contract period is used as the period of the financial guarantee insurance contract to measure the unearned premium revenue, an insurance entity shall adjust the unearned premium revenue to reflect early principal payments as they occur. That paragraph states also that the adjustment to the unearned premium revenue shall equal the adjustment to the premium receivable.
","snippet":"Paragraph 944-605-35-16 states that in instances where a contract period is used as the period of the financial guarantee insurance contract to measure the unearned premium revenue, an insurance entity shall adjust the u…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2b915839b3960b2b59e4832e97328b2ad53d139242ed77e0706fb5d8aba00bc5","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a23769de4b3f6f42408ddddc636c92a30f26a7299867d33f245a430b14ab178f","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2d68f3c454feb0a9a34141275f6d4f113f8aa0b04cf24d4389ba086ad47a79a","downloaded_from":"2026-09-09T23:30:02.145Z","last_downloaded_at":"2026-09-09T23:30:02.145Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478257","source_sha256":"3ea1a5772c0412fa6b871daddd478a7ba4f3831c3dcbd25a63c228d5b2fb702d"}},{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":"Mortgage Loans","paragraphs":[{"citation":"310-944-40-1","para":"40-1","html":"
Paragraph 944-325-40-1 states that realized gains and losses shall not be deferred, either directly or indirectly.
","snippet":"Paragraph 944-325-40-1 states that realized gains and losses shall not be deferred, either directly or indirectly.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dee0329edfd94756bb4c83b96370246ad2657c14ba87b34bfbf034d54f098bb3","downloaded_from":"2026-09-09T23:30:06.079Z","last_downloaded_at":"2026-09-09T23:30:06.079Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478627","source_sha256":"e4658f2d0c01f7aa586b7bba846006a2338970cb3edfba7935c48eb367ea5454"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3a4addf8967bb47108a3be3de3d7b8b2fbddf070663273e1511cd37caffeb59","downloaded_from":"2026-09-09T23:30:06.079Z","last_downloaded_at":"2026-09-09T23:30:06.079Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478627","source_sha256":"e4658f2d0c01f7aa586b7bba846006a2338970cb3edfba7935c48eb367ea5454"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:48d6acf5e38f7b380e5e0f8b80b844b04904b56ef7a3ffcf4ce736f29528bb80","downloaded_from":"2026-09-09T23:30:06.079Z","last_downloaded_at":"2026-09-09T23:30:06.079Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478627","source_sha256":"e4658f2d0c01f7aa586b7bba846006a2338970cb3edfba7935c48eb367ea5454"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Mortgage Loans","paragraphs":[{"citation":"310-944-45-1","para":"45-1","html":"
Realized gains and losses on investments in mortgage loans (except those that are accounted for as either hedges of net investments in foreign operations [see Subtopic 815-35] or cash flow hedges [see Subtopic 815-30]) shall be reported in the statement of earnings as a component of other income, on a pretax basis.
","snippet":"Realized gains and losses on investments in mortgage loans (except those that are accounted for as either hedges of net investments in foreign operations [see Subtopic 815-35] or cash flow hedges [see Subtopic 815-30]) s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9b27f83c7ef8e93d977e075f3ed6d610aacdb5c83983a6b9bc4c9b06f0837e5d","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}},{"citation":"310-944-45-2","para":"45-2","html":"
If not presented as a separate item in the statement of earnings, realized gains and losses shall be disclosed in the notes to financial statements (see paragraph 944-310-50-1).
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Amortization and other related charges or credits shall be charged or credited to investment income.
","snippet":"Amortization and other related charges or credits shall be charged or credited to investment income.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:75331a5ae9116a43392969bd1cb23a600a7ff112fced2da625f7ded4711c2558","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}},{"citation":"310-944-45-4","para":"45-4","html":"
Changes in the allowance for credit losses relating to mortgage loans shall be included in income as prescribed in Subtopic 326-20 on financial instruments measured at amortized cost.
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Paragraph superseded by Accounting Standards Update No. 2016-13.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2016-13.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d05c40f5f8cf2ac93c58321e2c39372df7b32fc4d532dd8694a769b66b3ff8b2","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de61f901689021e32fd98caa9de85aeee2a094640a9f3df4d9fb73341ed860cf","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}},{"block":"Reinsurance Contracts","heading":"Reinsurance Recoverables","paragraphs":[{"citation":"310-944-45-5","para":"45-5","html":"
A ceding entity shall report an estimated reinsurance recoverable arising from those contracts described in paragraph 944-310-25-2 separately as an asset.
","snippet":"A ceding entity shall report an estimated reinsurance recoverable arising from those contracts described in paragraph 944-310-25-2 separately as an asset.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9c3469588eda045e92eb25a8e0f6232ad206441156abe24e55c186359448e17","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}},{"citation":"310-944-45-6","para":"45-6","html":"
Although amounts recoverable on unasserted claims shall be reported as reinsurance recoverables, details of the amounts comprising reinsurance recoverables may be presented separately.
","snippet":"Although amounts recoverable on unasserted claims shall be reported as reinsurance recoverables, details of the amounts comprising reinsurance recoverables may be presented separately.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9bac7f0c61cbbb7772c37d2599f3515351894c7121f9df2d44f72f02c7eb4f1f","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}},{"citation":"310-944-45-7","para":"45-7","html":"
Amounts receivable and payable between the ceding entity and an individual reinsurer shall be offset only if a legal right of setoff exists as defined in Subtopic 210-20, even if the ceding entity and reinsurer are affiliated entities. However, if the ceding entity and reinsurer are affiliated entities, the amounts shall be eliminated in consolidation when the affiliated entities are included in consolidated financial statements.
","snippet":"Amounts receivable and payable between the ceding entity and an individual reinsurer shall be offset only if a legal right of setoff exists as defined in Subtopic 210-20, even if the ceding entity and reinsurer are affil…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e84893f86dee392b72ed5c729455d10aaf94e3b346b49d199cd98b061298b57","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:795b9685d19a0985d4319b3ed07669273d1a62d4c2a80040856cff46be0bc776","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:514251fa0360cceee5de2f8ff5e2989a1b5e6f5f79d04a1195458d13346c60b6","downloaded_from":"2026-09-09T23:30:08.084Z","last_downloaded_at":"2026-09-09T23:30:08.084Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477409","source_sha256":"bbed13ec7431e6982190b94d984071be16bdbfd59dac838ddefbd507bb5913e6"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Mortgage Loans","paragraphs":[{"citation":"310-944-50-1","para":"50-1","html":"
If realized gains and losses are not presented as a separate item in the statement of earnings, they shall be disclosed in the notes to financial statements.
","snippet":"If realized gains and losses are not presented as a separate item in the statement of earnings, they shall be disclosed in the notes to financial statements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5117815c4a31b5d214d53f91da7a66e513bb0543dc170e7a5dc4626476c9d0e2","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:10a4fbb9a9567f275015aeb609d02a40c424b3c0acbbc0cb524ac00d4fbab992","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}},{"block":"Reinsurance Contracts","heading":"Reinsurance Recoverables","paragraphs":[{"citation":"310-944-50-2","para":"50-2","html":"
Paragraph 944-310-45-6 states that, although amounts recoverable on unasserted claims shall be reported as reinsurance recoverables, details of the amounts comprising reinsurance recoverables may be presented separately.
","snippet":"Paragraph 944-310-45-6 states that, although amounts recoverable on unasserted claims shall be reported as reinsurance recoverables, details of the amounts comprising reinsurance recoverables may be presented separately.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5a2efa74cc7a1e02753c5f4abb1fe4186488dc77008b55d1e3f753ecf8e59548","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82dd973505d8ad3beab1e9bb13b88e0663a4b0e3f857b93c21783b6f1482966f","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}},{"block":"Financial Guarantee Insurance Contracts","heading":null,"paragraphs":[{"citation":"310-944-50-3","para":"50-3","html":"
To meet the disclosure objective in paragraph 944-20-50-7, an insurance entity shall disclose all of the following information for each annual period and interim period:
  1. a
    For financial guarantee insurance contracts where premiums are received as payments over the period of the contract, rather than at inception, all of the following:
    1. 1
      The premium receivable as of the date(s) of the statement of financial position and the line item in the statement of financial position where the amount is reported (if not presented separately)
    2. 2
      The unearned premium revenue as of the date(s) of the statement of financial position and the line item in the statement of financial position where the amount is reported (if not presented separately)
    3. 3
      The amount of accretion on the premium receivable and the line item in the statement of income where that amount is reported (if not presented separately)
    4. 4
      The weighted-average risk-free rate used to discount the premiums expected to be collected
    5. 5
      The weighted-average period of the premium receivable.
  2. b
    A schedule of premiums expected to be collected related to the premium receivable detailing both of the following:
    1. 1
      The four quarters of the subsequent annual period and each of the next four annual periods
    2. 2
      The remaining periods aggregated in five-year increments.
  3. c
    A rollforward of the premium receivable for the period, including all of the following:
    1. 1
      The beginning premium receivable
    2. 2
      Premium payments received
    3. 3
      New business written
    4. 4
      Adjustments to the premium receivable, including all of the following:
      1. i
        Adjustments for changes in the period of a financial guarantee insurance contract
      2. ii
        An explanation of why the adjustments in item (c)(4)(i) occurred
      3. iii
        Accretion of the premium receivable discount
      4. iv
        Other adjustments with explanations provided.
    5. 5
      The ending premium receivable.
","snippet":"To meet the disclosure objective in paragraph 944-20-50-7, an insurance entity shall disclose all of the following information for each annual period and interim period:\n(a) For financial guarantee insurance contracts wh…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:999b9eac4771c7d2982e1befa93284ca8dcf0c09972cb55cfece0ebd81be2e80","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec1ebb67c980157a1b1ecafb119ac47473da2bb77f29f48eeaf034477fce5668","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bfd7e3c584c58a4ba38424f64530e20f65a2282235b60a9cca717e44ce238564","downloaded_from":"2026-09-09T23:30:11.341Z","last_downloaded_at":"2026-09-09T23:30:11.341Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477363","source_sha256":"60f848f5969d7d84ce83b3e82dcdfcea0bcc8989bada2f5a7e195b8d46a25fd2"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":"Financial Guarantee Insurance Contracts","heading":"Illustrations","paragraphs":[{"citation":"310-944-55-1","para":"55-1","html":"
This Example illustrates the accounting when prepayment assumptions change and illustrates the resulting change to the expected period required by paragraph 944-310-35-5. This Example assumes that annual premiums are received as payments over the expected period of the financial guarantee insurance contract and further assumes all of the following:
","snippet":"This Example illustrates the accounting when prepayment assumptions change and illustrates the resulting change to the expected period required by paragraph 944-310-35-5. This Example assumes that annual premiums are rec…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:13102a63eff80b499cfe38e5c92f5e812fc0743b1a8559f7b0213757bbd4f8bf","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-2","para":"55-2","html":"
The following table illustrates all of the following, estimated at inception:
  1. a
    The expected insured principal amounts outstanding during each period
  2. b
    The expected insured principal payments
  3. c
    The expected premium payments
  4. d
    The present value of premiums expected.
","snippet":"The following table illustrates all of the following, estimated at inception:\n(a) The expected insured principal amounts outstanding during each period\n(b) The expected insured principal payments\n(c) The expected premium…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a1cedf627e2825b159aecb3378e40597b1d4d4cdf1f76d9a11c2399cebb43a0","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-3","para":"55-3","html":"
The constant rate is calculated in the table in the preceding paragraph as the ratio of the present value of the premiums expected to be collected and the sum of all insured principal amounts outstanding during each reporting period.
","snippet":"The constant rate is calculated in the table in the preceding paragraph as the ratio of the present value of the premiums expected to be collected and the sum of all insured principal amounts outstanding during each repo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f26615578460e968ff14401300eaa0e07cc9ea1f9e870ed2f875d3e40ecf8b37","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-4","para":"55-4","html":"
The following table presents the rollforward of the premium receivable from period to period. The premium receivable will decrease during the year as expected premium payments are received, and it will increase as a result of the accretion of the discount on the premium receivable each period that is recognized in earnings.
","snippet":"The following table presents the rollforward of the premium receivable from period to period. The premium receivable will decrease during the year as expected premium payments are received, and it will increase as a resu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:717e0a7ecbce330a71235365939d2f6feb34cee88ca2b86c817d925efa9cc972","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-5","para":"55-5","html":"
The following table illustrates that the expected total revenue recognized each period will be the sum of the expected premium revenue recognized each period based on the constant rate of 0.0090729 and the accretion of the discount on the premium receivable each period. The depiction of expected premium revenue recognized and accretion of discount on premium receivable in the table is not intended to draw any conclusions about the presentation of these amounts in the statement of income.
","snippet":"The following table illustrates that the expected total revenue recognized each period will be the sum of the expected premium revenue recognized each period based on the constant rate of 0.0090729 and the accretion of t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e9e7bd44c0c29464053556c18565c6ed6a7f39b142cd2964eaeb0762f2a287c8","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-6","para":"55-6","html":"
The following table illustrates the reduction of the unearned premium revenue due to the recognition of premium revenue during each reporting period.
","snippet":"The following table illustrates the reduction of the unearned premium revenue due to the recognition of premium revenue during each reporting period.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3d9ec5e3dba747cc101b4a3beeb5b5a778f5074ab9bab74472d0f4c8cef4c7e","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-7","para":"55-7","html":"
At the beginning of Year 3, the insurance entity estimates that prepayments will differ from its initial assumptions. Its new estimate is that the expected period is nine years from inception (the change represents a change in assumptions and not a change due to an error, which would be accounted for in accordance with Topic 250).
","snippet":"At the beginning of Year 3, the insurance entity estimates that prepayments will differ from its initial assumptions. Its new estimate is that the expected period is nine years from inception (the change represents a cha…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af2d1fbce1676d6bbaed20f27e406ba3380db29e7703a0ad770a6b96cdc1340d","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-8","para":"55-8","html":"
The following table illustrates the information presented in the table in paragraph 944-310-55-2 as if the new prepayment assumptions were used from inception. The constant rate calculated in the table is not the new constant rate, but, rather, is presented here to assist in understanding the calculations necessary to determine the adjustment. For simplicity, the discount rate has not been updated when the prepayment assumptions change as required by paragraph 944-310-35-5. If the discount rate had changed at the time of the change in prepayment assumptions, that new discount rate would be used.
","snippet":"The following table illustrates the information presented in the table in paragraph 944-310-55-2 as if the new prepayment assumptions were used from inception. The constant rate calculated in the table is not the new con…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da30450e657d23ad0794e0ad07eb80026ef328a299de3ee58a964356bcd6f249","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-9","para":"55-9","html":"
The following table illustrates the information presented in the table in paragraph 944-310-55-4 as if the new prepayment assumptions were used from inception.
","snippet":"The following table illustrates the information presented in the table in paragraph 944-310-55-4 as if the new prepayment assumptions were used from inception.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9f9432c2a28286e18811e7aa62ce98f641c3a47c38a2b4447b4dd6f38be83a51","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-10","para":"55-10","html":"
The following table illustrates the information presented in the table in paragraph 944-310-55-5 as if the new prepayment assumptions were used from inception. The depiction of expected premium revenue recognized and accretion of discount on premium receivable in the table is not intended to draw any conclusions about the presentation of these amounts in the statement of income.
","snippet":"The following table illustrates the information presented in the table in paragraph 944-310-55-5 as if the new prepayment assumptions were used from inception. The depiction of expected premium revenue recognized and acc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7129a99315ed392be90a34d53138cfe4ef358f2dae5703405c13ced37d429bbd","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-11","para":"55-11","html":"
The following table illustrates the information presented in the table in paragraph 944-310-55-6 as if the new prepayment assumptions were used from inception.
","snippet":"The following table illustrates the information presented in the table in paragraph 944-310-55-6 as if the new prepayment assumptions were used from inception.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d2bb0edee0999c88a13a2c8fd48d4a72eb9c0c246a3e69b3dabfc3cb67cde9ff","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-12","para":"55-12","html":"
Based on the new constant rate, the adjustment to the premium receivable and unearned premium revenue is an increase of $530,590 (calculated as the premium receivable end-of-year balance in Year 2 using the updated prepayment assumptions [$2,272,411 from the table in paragraph 944-310-55-9] less the premium receivable end-of-year balance in Year 2 using the initial prepayment assumptions [$1,741,821 from the table in paragraph 944-310-55-4]).
","snippet":"Based on the new constant rate, the adjustment to the premium receivable and unearned premium revenue is an increase of $530,590 (calculated as the premium receivable end-of-year balance in Year 2 using the updated prepa…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:675040c86465e86a74912e082c56b6f98a55b5d543d838fcb4a0774885014f68","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-13","para":"55-13","html":"
The following calculation illustrates how the unearned premium revenue balance is determined at the beginning of Year 3.
","snippet":"The following calculation illustrates how the unearned premium revenue balance is determined at the beginning of Year 3.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:71f8cca3a19314de461882d844a566df5447c99bfda3d1a9df527934d21920af","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}},{"citation":"310-944-55-14","para":"55-14","html":"
The following table illustrates both of the following:
  1. a
    The actual premium revenue recognized and discount accreted on the premium receivable for Years 1 and 2
  2. b
    The revised expected premium revenue recognition and accretion on the premium receivable from Years 3-9 based on the new prepayment assumptions.
The depiction of expected premium revenue recognized and accretion of discount on premium receivable in the table is not intended to draw any conclusions about the presentation of these amounts in the statement of income.
","snippet":"The following table illustrates both of the following:\n(a) The actual premium revenue recognized and discount accreted on the premium receivable for Years 1 and 2\n(b) The revised expected premium revenue recognition and …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3340354cd7387b65dcf41c9b77ed8748f6e405d9060be9e814898e394b5f86a4","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f41ccc5588bab2786934a9d6e9d2cb87b2b1494b12e27faf54d88ba7b025f36e","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:847f0d0589f4dbaa0921acfe7f9dfeb312a95ab82fdc91c9d407539f9764d88e","downloaded_from":"2026-09-09T23:30:15.101Z","last_downloaded_at":"2026-09-09T23:30:15.101Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478942","source_sha256":"5ac9ccfa14a6033d82a274f24ce7da684bee1ffda260f303c54e60d7f7fd56c2"}}],"enrichment":{"summary":"ASC 310-944 tells insurance entities how to account for receivables: mortgage loans held as investments, reinsurance recoverables, and premium receivables on financial guarantee insurance contracts. Mortgage loans are recognized as assets at principal (or cost if bought at a discount/premium) and carried at amortized cost with an allowance for expected credit losses under Topic 326-20; reinsurance recoverables must be reported gross as assets (no netting against related liabilities absent a legal right of setoff). For financial guarantee contracts with installment premiums, the premium receivable is measured at the present value of premiums expected to be collected using a risk-free rate at inception, with the discount accreted to earnings.","key_points":["Mortgage loans shall be recognized as assets (944-310-25-1), measured initially at outstanding principal if acquired at par or at cost if purchased at a discount or premium (944-310-30-1), and subsequently at outstanding principal or amortized cost with an allowance for estimated uncollectible amounts (944-310-35-1).","Realized gains and losses on mortgage loan investments are reported pretax in other income in the statement of earnings (or disclosed in the notes), amortization goes to investment income, and changes in the allowance for credit losses follow Subtopic 326-20 (944-310-45-1 through 45-4; 944-310-50-1).","Ceding entities must report estimated reinsurance recoverables separately as assets for both assumption-and-novation contracts and contracts where the ceding entity is not relieved of legal liability to the policyholder (944-310-25-2; 944-310-45-5).","No single valuation method is prescribed for reinsurance recoverables; disputed amounts are contingent losses under Subtopic 450-20, while expected credit losses on recoverables follow Subtopic 326-20 (944-310-35-4).","Receivables and payables between a ceding entity and an individual reinsurer may be offset only if a legal right of setoff exists under Subtopic 210-20, even for affiliates (though affiliate amounts are eliminated in consolidation) (944-310-45-7).","For installment-premium financial guarantee insurance contracts, the premium receivable equals the present value of premiums due or expected to be collected discounted at the risk-free rate at inception over the contract period, with the discount accreted through earnings (944-310-25-3; 944-310-30-2).","An expected (shorter) period may be used only if a homogenous pool of contractually prepayable assets underlies the insured obligation and prepayments are probable and reasonably estimable; this is an entity-wide accounting policy election, and changes in prepayment assumptions adjust premium receivable and unearned premium revenue by equal amounts with no earnings effect, updating the discount rate to a current risk-free rate (944-310-30-3; 944-310-35-5)."],"categories":["Recognition","Initial measurement","Subsequent measurement","Industry-specific"],"audience_level":"intermediate","student_note":"Exam traps here are the gross-reporting rule for reinsurance recoverables (you cannot net them against reserves unless a legal right of setoff exists) and the fact that a change in prepayment assumptions on a financial guarantee premium receivable is a balance-sheet-only adjustment—the offsetting change to unearned premium revenue means no gain or loss at the date of change, only a revised revenue pattern going 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