{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/605/944/#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":"605","topic_title":"Revenue Recognition","subtopic":"605-944","subtopic_title":"Financial Services—Insurance","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":"Reinsurance Contracts","heading":"All Reinsurance Contracts","paragraphs":[{"citation":"605-944-50-1","para":"50-1","html":"
All insurance entities shall disclose all of the following in their financial statements:
  1. a
    For all reinsurance contracts, both of the following:
    1. 1
      Methods used for income recognition on reinsurance contracts
    2. 2
      If not reported under paragraph 944-605-45-1 in the statement of earnings, as separate line items or parenthetically, the amounts of earned premiums ceded and recoveries recognized under reinsurance contracts.
  2. b
    For short-duration contracts, all of the following on both a written basis and an earned basis:
    1. 1
      Premiums from direct business
    2. 2
      Reinsurance assumed
    3. 3
      Reinsurance ceded.
  3. c
    For long-duration contracts, all of the following:
    1. 1
      Premiums and amounts assessed against policyholders from direct business
    2. 2
      Reinsurance assumed and ceded
    3. 3
      Premiums and amounts earned.
  4. d
    For foreign reinsurance accounted for by the open year method, all of the following shall be disclosed for each period for which an income statement is presented:
    1. 1
      The amounts of premiums, claims, and expenses recognized as income on closing underwriting balances
    2. 2
      The additions to underwriting balances for the year for reported premiums, claims, and expenses.
  5. e
    The amounts of premiums, claims, and expenses in the underwriting account for each balance sheet presented.
","snippet":"All insurance entities shall disclose all of the following in their financial statements:\n(a) For all reinsurance contracts, both of the following:\n(1) Methods used for income recognition on reinsurance contracts\n(2) If …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9b4ef8d61df509a5b4a509081d6294fd02837795c5a080fd4c435197b72ff85b","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}},{"citation":"605-944-50-2","para":"50-2","html":"
Appropriate disclosure of both of the following items is encouraged:
  1. a
    The extent to which reinsurance contracts indemnify the ceding entity against loss or liability relating to insurance risk
  2. b
    Indemnification policies as part of the required disclosure in the preceding paragraph about the nature and effect of reinsurance transactions.
","snippet":"Appropriate disclosure of both of the following items is encouraged:\n(a) The extent to which reinsurance contracts indemnify the ceding entity against loss or liability relating to insurance risk\n(b) Indemnification poli…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0071ee962ea9cee160d3c192ef213a615018727c2cbdafe7412d95243bedb947","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}},{"citation":"605-944-50-3","para":"50-3","html":"
Disclosure in the financial statements of an insurance entity's accounting policies under Topic 250 shall include a description of the methods used to account for foreign reinsurance.
","snippet":"Disclosure in the financial statements of an insurance entity's accounting policies under Topic 250 shall include a description of the methods used to account for foreign reinsurance.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2fcddba75365d7b74f09443cfccf8d63ac5df2cbc1282723418d3d2791b4cddb","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:524db482434977996f42f3fa365e76bb449670cb77d18b262e546cd2bb626a3e","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}},{"block":"Financial Guarantee Insurance Contracts","heading":null,"paragraphs":[{"citation":"605-944-50-4","para":"50-4","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 premium revenue recognition that has been accelerated, the amount and reasons for acceleration
  2. b
    A schedule of the future expected premium revenue as of the latest date of the statement of financial position 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.
","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 premium revenue recognition that has been …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:068e1aa2fbe6871b99336f9881acdf06aa4d7a0d3f9659493d1b39335495c932","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1684552111d722c2464feec94bef535246598509c7bd63355d1286df4c66f4f3","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d5ac361fc8f2b65e79635a8dd8469ae0ce6d1a6ae6864ab3771a60388dc815b","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d5ac361fc8f2b65e79635a8dd8469ae0ce6d1a6ae6864ab3771a60388dc815b","downloaded_from":"2026-09-10T00:49:39.778Z","last_downloaded_at":"2026-09-10T00:49:39.778Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479032","source_sha256":"70bbf837fb6710beedc8b1c8afa5f4659ed9bb67b17e0e43235a379ae944e229"}}