{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/605/944/#45-other-presentation-matters","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":"605","topic_title":"Revenue Recognition","subtopic":"605-944","subtopic_title":"Financial Services—Insurance","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":"Reinsurance Contracts","heading":"All Reinsurance Contracts","paragraphs":[{"citation":"605-944-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_0808DCA2-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The amounts of earned premiums ceded and recoveries recognized under <a href=\"/glossary/r/#reinsurance\" class=\"term\" title=\"A transaction in which a reinsurer (assuming entity), for a consideration (premium), assumes all or part of a risk undertaken originally by another insurer (ceding entity). For indemnity reinsurance, the legal rights of the insured are not affected by the reinsurance transaction and the insurance entity issuing the insurance contract remains liable to the insured for payment of policy benefits. Assumption or novation reinsurance contracts that are legal replacements of one insurer by another extinguish the ceding entity's liability to the policyholder.\"><span>reinsurance</span></a> contracts shall either be: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_0808DDBA-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Reported in the statement of earnings, as separate line items or parenthetically </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_0808DE8F-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Disclosed in the notes to financial statements under paragraph <a href=\"/asc/605/944/#605-944-50-1\" class=\"xref\">944-605-50-1</a>. </span></span></div></li></ol></div></div>","snippet":"The amounts of earned premiums ceded and recoveries recognized under reinsurance contracts shall either be:\n(a) Reported in the statement of earnings, as separate line items or parenthetically\n(b) Disclosed in the notes …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c26f57f8f8b15abbb9a5d5af38fc3d3bda57f99040de929d8b42319c4045ae3d","downloaded_from":"2026-09-10T00:49:36.452Z","last_downloaded_at":"2026-09-10T00:49:36.452Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478832","source_sha256":"b2a7450feb26cab99aeb6a6f4a9abe89ddf1c428288f4ba981b691bd4a4ea4a8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e7c76d1e27887a12cbda21de63d07d1f8995605bee07ba3437e5a25e005494c1","downloaded_from":"2026-09-10T00:49:36.452Z","last_downloaded_at":"2026-09-10T00:49:36.452Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478832","source_sha256":"b2a7450feb26cab99aeb6a6f4a9abe89ddf1c428288f4ba981b691bd4a4ea4a8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8640e36eb338cf93eaea0598681a02764c6efb80d5c699b1332cd46d95474a28","downloaded_from":"2026-09-10T00:49:36.452Z","last_downloaded_at":"2026-09-10T00:49:36.452Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478832","source_sha256":"b2a7450feb26cab99aeb6a6f4a9abe89ddf1c428288f4ba981b691bd4a4ea4a8"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8640e36eb338cf93eaea0598681a02764c6efb80d5c699b1332cd46d95474a28","downloaded_from":"2026-09-10T00:49:36.452Z","last_downloaded_at":"2026-09-10T00:49:36.452Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478832","source_sha256":"b2a7450feb26cab99aeb6a6f4a9abe89ddf1c428288f4ba981b691bd4a4ea4a8"}}