# ASC 340-944-25: Other Assets and Deferred Costs — Financial Services—Insurance — 25 Recognition

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/340/944/#25-recognition)

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## ASC 340-944-25: 25 Recognition

[Read section](https://asc.understandingaccounting.org/asc/340/944/#25-recognition)

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### Reinsurance

#### Prepaid Insurance Premiums

##### [340-944-25-1](https://asc.understandingaccounting.org/asc/340/944/#340-944-25-1)

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Amounts paid to the [reinsurer](https://asc.understandingaccounting.org/glossary/r/#reinsurer "The assuming entity in a reinsurance transaction.") relating to the unexpired portion of reinsured contracts ([prepaid reinsurance premiums](https://asc.understandingaccounting.org/glossary/p/#prepaid-reinsurance-premiums "Amounts paid to the reinsurer relating to the unexpired portion of reinsured contracts.")) shall be reported separately as assets.