{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/340/30/#50-disclosure","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.","topic":"340","topic_title":"Other Assets and Deferred Costs","subtopic":"340-30","subtopic_title":"Insurance Contracts That Do Not Transfer Insurance Risk","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Deposit Asset or Liability","paragraphs":[{"citation":"340-30-50-1","para":"50-1","html":"
Entities shall disclose a description of the contracts accounted for as deposits and the separate amounts of total deposit assets and total deposit liabilities reported in the statement of financial position.
","snippet":"Entities shall disclose a description of the contracts accounted for as deposits and the separate amounts of total deposit assets and total deposit liabilities reported in the statement of financial position.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4f974440b89b3a876c954f61b7e4684c27f41b57e862e368066968413fca3d73","downloaded_from":"2026-09-09T23:56:00.194Z","last_downloaded_at":"2026-09-09T23:56:00.194Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483054","source_sha256":"47e8a936d4387a59cd5374e3500e7a4a39305f2a0146d08442fc0c0431f18ac2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ed46d13e989760dd8cb23076c528c360a6f2a21d654a2b10192edd3eabb50103","downloaded_from":"2026-09-09T23:56:00.194Z","last_downloaded_at":"2026-09-09T23:56:00.194Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483054","source_sha256":"47e8a936d4387a59cd5374e3500e7a4a39305f2a0146d08442fc0c0431f18ac2"}},{"block":null,"heading":"Insurance and Reinsurance Contracts that Transfer Only Underwriting Risk","paragraphs":[{"citation":"340-30-50-2","para":"50-2","html":"
Insurance entities shall disclose the following information regarding the changes in the recorded amount of the deposit arising from an insurance or reinsurance contract that transfers only significant underwriting risk:
  1. a
    The present values of initial expected recoveries that will be reimbursed under the insurance or reinsurance contracts that have been recorded as an adjustment to incurred losses
  2. b
    Any adjustment of amounts initially recognized for expected recoveries. The individual components of the adjustment (meaning, interest accrual, the present value of additional expected recoveries, and the present value of reductions in expected recoveries) shall be disclosed separately.
  3. c
    The amortization expense attributable to the expiration of coverage provided under the contract.
Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:
220-40-65-1Insurance entities shall disclose the following information regarding the changes in the recorded amount of the deposit arising from an insurance or reinsurance contract that transfers only significant underwriting risk:
  1. a
    The present values of initial expected recoveries that will be reimbursed under the insurance or reinsurance contracts that have been recorded as an adjustment to incurred losses
  2. b
    Any adjustment of amounts initially recognized for expected recoveries. The individual components of the adjustment (meaning, interest accrual, the present value of additional expected recoveries, and the present value of reductions in expected recoveries) shall be disclosed separately.
  3. c
    The amortization expense attributable to the expiration of coverage provided under the contract.
See paragraphs
220-40-50-21 through 50-25
for additional disclosure requirements.
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