# ASC 340-30-30: Other Assets and Deferred Costs — Insurance Contracts That Do Not Transfer Insurance Risk — 30 Initial Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/340/30/#30-initial-measurement)

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## ASC 340-30-30: 30 Initial Measurement

[Read section](https://asc.understandingaccounting.org/asc/340/30/#30-initial-measurement)

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#### Deposit Asset or Liability Related to Insurance and Reinsurance Contracts Accounted for Under Deposit Accounting

##### [340-30-30-1](https://asc.understandingaccounting.org/asc/340/30/#340-30-30-1)

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At inception, a deposit asset or liability shall be measured based on the consideration paid or received, less any explicitly identified premiums or fees to be retained by the insurer or reinsurer, irrespective of the experience of the contract. Accounting for such fees shall be based on the terms of the contract.