{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/20/#30-initial-measurement","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":"944","topic_title":"Financial Services—Insurance","subtopic":"944-20","subtopic_title":"Insurance Activities","section":{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":"Reinsurance Contracts","heading":"Multiple-Year Retrospectively Rated Contracts by Ceding and Assuming Entities","paragraphs":[{"citation":"944-20-30-1","para":"30-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_FA0ED507-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Paragraph <a href=\"/asc/944/20/#944-20-25-6\" class=\"xref\">944-20-25-6</a> states that if either party entering into a new contract in consideration for canceling a retrospectively rated contract </span></span><span class=\"sfragment\" id=\"sfr_FA0ED682-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">would not have agreed to cancel the existing retrospectively rate contract unless a new contract were entered into, the two contracts are in effect the same contract for purposes of measuring assets and liabilities and shall be accounted for that way. </span></span></div></div>","snippet":"Paragraph 944-20-25-6 states that if either party entering into a new contract in consideration for canceling a retrospectively rated contract would not have agreed to cancel the existing retrospectively rate contract un…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d31437bc72030c42b806729cc2fecef5c8600471c9850bf34bb6afc2b8366a0b","downloaded_from":"2026-09-10T02:15:13.179Z","last_downloaded_at":"2026-09-10T02:15:13.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479967","source_sha256":"bcb53f9da52690c8cd5f7ece7853eb543fdbd2f8b2e6dd1cde9652a12dd07fdb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc6051611acecb409091feddb15b286259482dede61d9b2da11f4c0867d1a531","downloaded_from":"2026-09-10T02:15:13.179Z","last_downloaded_at":"2026-09-10T02:15:13.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479967","source_sha256":"bcb53f9da52690c8cd5f7ece7853eb543fdbd2f8b2e6dd1cde9652a12dd07fdb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0155f01b7f3426f6ab4940ae0705066759b85b4090c07a21e1fd85415c5557e6","downloaded_from":"2026-09-10T02:15:13.179Z","last_downloaded_at":"2026-09-10T02:15:13.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479967","source_sha256":"bcb53f9da52690c8cd5f7ece7853eb543fdbd2f8b2e6dd1cde9652a12dd07fdb"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0155f01b7f3426f6ab4940ae0705066759b85b4090c07a21e1fd85415c5557e6","downloaded_from":"2026-09-10T02:15:13.179Z","last_downloaded_at":"2026-09-10T02:15:13.179Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479967","source_sha256":"bcb53f9da52690c8cd5f7ece7853eb543fdbd2f8b2e6dd1cde9652a12dd07fdb"}}