{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/20/#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":"944","topic_title":"Financial Services—Insurance","subtopic":"944-20","subtopic_title":"Insurance Activities","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":"Long-Duration Contracts","heading":"Limited-Payment and Universal Life-Type Contracts","paragraphs":[{"citation":"944-20-50-1","para":"50-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_FA488EFE-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">For financial statement disclosures about limited-payment and universal life-type contracts, see paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/605/944/#605-944-50-1\" class=\"xref\">944-605-50-1 through 50-2</a></div>. </span></span> </div> </div>","snippet":"For financial statement disclosures about limited-payment and universal life-type contracts, see paragraphs 944-605-50-1 through 50-2.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e4bec3807d7f2970069ec9f3197ca07674ce68f293ff8db8952295f4edac2589","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7742de92393945e16824b65659ef7b46301d5a387ebde63c30253752e4e8b166","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}},{"block":"Long-Duration Contracts","heading":"Certain Participating Life Insurance Contracts","paragraphs":[{"citation":"944-20-50-2","para":"50-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_FA489064-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Disclosure of the specific accounting policy applied to participating life insurance contracts that meet the criteria in paragraph <a href=\"/asc/944/20/#944-20-15-3\" class=\"xref\">944-20-15-3</a> shall be made in accordance with Section <a altsource=\"GUID-2B1BEB1F-189C-4EBE-A84F-F718A2763BE7.ditamap\" class=\"ditamap\">235-10-50</a>. </span></span> </div> </div>","snippet":"Disclosure of the specific accounting policy applied to participating life insurance contracts that meet the criteria in paragraph 944-20-15-3 shall be made in accordance with Section 235-10-50.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d1d83edcc484114ee09434ab19cb43ba82c9cf0c7cc9e9f6d16ac7eb476cb808","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:abc1ca898699f06d96c0b5a0dccf5109802d5b9f58aede874fd70a37832cec3d","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}},{"block":"Reinsurance Contracts","heading":null,"paragraphs":[{"citation":"944-20-50-3","para":"50-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_FA52A2E0-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">All insurance entities shall disclose </span></span><span class=\"sfragment\" id=\"sfr_FA52A3FA-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">the nature, purpose, and effect of ceded <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> transactions on the insurance entity's operations. </span></span></div></div>","snippet":"All insurance entities shall disclose the nature, purpose, and effect of ceded reinsurance transactions on the insurance entity's operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a80de5bf995691d45e5b75dd44666e4c3cef2ed33b6cba3b78605b7af1db4e68","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}},{"citation":"944-20-50-4","para":"50-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_FA52A4FB-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Ceding entities also shall disclose the fact that the insurer is not relieved of its primary obligation to the policyholder in a reinsurance transaction. </span></span></div></div>","snippet":"Ceding entities also shall disclose the fact that the insurer is not relieved of its primary obligation to the policyholder in a reinsurance transaction.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ffe9f8ab7ef071fffbbb37f2120ce67512d9cf9637376e9ff0ba2f64dba87a5e","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}},{"citation":"944-20-50-5","para":"50-5","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_FA52A5D7-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Paragraph <a href=\"/asc/310/944/#310-944-45-6\" class=\"xref\">944-310-45-6</a> states that, although amounts recoverable on unasserted claims shall be reported as <a href=\"/glossary/r/#reinsurance-recoverable\" class=\"term\" title=\"All amounts recoverable from reinsurers for paid and unpaid claims and claim settlement expenses, including estimated amounts receivable for unsettled claims, claims incurred but not reported, or policy benefits.\"><span>reinsurance recoverables</span></a>, </span></span><span class=\"sfragment\" id=\"sfr_FA52A690-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">details of the amounts comprising reinsurance recoverables may be presented separately. </span></span></div></div>","snippet":"Paragraph 944-310-45-6 states that, although amounts recoverable on unasserted claims shall be reported as reinsurance recoverables, details of the amounts comprising reinsurance recoverables may be presented separately.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d15ceeca825dcb13a059d09a585c1149b78b0ad3a9a3f61c6d7f7cf4ccaca10","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}},{"citation":"944-20-50-6","para":"50-6","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_FA52A750-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Separate presentation or disclosure of servicing carrier activity is not precluded. </span></span></div></div>","snippet":"Separate presentation or disclosure of servicing carrier activity is not precluded.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27d9dcea63f58caa7996d0dcf52cd49047d30019cf04ba05e808c00889532c1a","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:62c6e82ae0c8a53f3c631f636392a882660abb074af19556229c2f102152c160","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}},{"block":"Financial Guarantee Insurance Contracts","heading":null,"paragraphs":[{"citation":"944-20-50-7","para":"50-7","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_FA5E9A0C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><span class=\"principle\">An insurance entity shall disclose information that enables users of its financial statements to understand the factors affecting the present and future recognition and measurement of financial guarantee insurance contracts.</span></span></span></div></div>","snippet":"An insurance entity shall disclose information that enables users of its financial statements to understand the factors affecting the present and future recognition and measurement of financial guarantee insurance contra…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c1e342028d3b4e3f166bf11e6eeba375043c6195616a00e93b78eb5989194908","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479838","source_sha256":"e1881f83ed1a13ac8b78b30d2f00779e6ed26668c07f0c443df9040d0bf5af69"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8924813184e1c1c730d495d00baf11ec23aacca91981f7e0bac8188a6885b749","downloaded_from":"2026-09-10T02:15:25.223Z","last_downloaded_at":"2026-09-10T02:15:25.223Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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