# ASC 944-40-50: Financial Services—Insurance — Claim Costs and Liabilities for Future Policy Benefits — 50 Disclosure Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/944/40/#50-disclosure) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:75b3f9614af71749ad4fac1ab019b92f01d3ca7d03a42f45c9eba7c9dca497cd Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 944-40-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/944/40/#50-disclosure) SEC content: no ##### [944-40-50-1](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:9fe18c02dadcef090b286c6b74ece425469694ed8a326437b610df90c20e41a3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. An insurance entity shall disclose in its financial statements the basis for estimating the liabilities for unpaid [claims](https://asc.understandingaccounting.org/glossary/c/#claim "A demand for payment of a policy benefit because of the occurrence of an insured event.") and [claim adjustment expenses](https://asc.understandingaccounting.org/glossary/c/#claim-adjustment-expenses "Expenses incurred in the course of investigating and settling claims."). ##### [944-40-50-2](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-2) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:378a016f625ac4bb9003db50092b7ac9207ccd00b70f79ab0967ae49e298fd50 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2015-09](https://asc.understandingaccounting.org/updates/asu-2015-09/). ##### [944-40-50-3](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-3) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:763fa9c1baa71390db875756a6b13daa316465efa9b078dc2c8072ac68485583 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual and interim reporting periods, all of the following information about the [liability for unpaid claims](https://asc.understandingaccounting.org/glossary/l/#liability-for-unpaid-claims "The amount needed to provide for the estimated ultimate cost of settling claims relating to insured events that have occurred on or before a particular date (ordinarily, the balance sheet date).") and [claim adjustment expenses](https://asc.understandingaccounting.org/glossary/c/#claim-adjustment-expenses "Expenses incurred in the course of investigating and settling claims.") shall be presented in a tabular rollforward: 1. a The balance in the liability for unpaid [claims](https://asc.understandingaccounting.org/glossary/c/#claim "A demand for payment of a policy benefit because of the occurrence of an insured event.") and claim adjustment expenses at the beginning of each fiscal year presented in the statement of income, and the related amount of [reinsurance recoverable](https://asc.understandingaccounting.org/glossary/r/#reinsurance-recoverable "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.") on unpaid claims 2. b Year-to-date incurred claims and claim adjustment expenses with separate disclosure of the provision for insured events of the current fiscal year and of increases or decreases in the provision for insured events of prior fiscal years 3. c Year-to-date payments of claims and claim adjustment expenses with separate disclosure of payments of claims and claim adjustment expenses attributable to insured events of the current fiscal year and to insured events of prior fiscal years 4. cc The ending balance in the liability for unpaid claims and claim adjustment expenses and the related amount of reinsurance recoverable. 5. d [Subparagraph superseded by Accounting Standards Update No. 2015-09](https://asc.understandingaccounting.org/updates/asu-2015-09/). In addition, an insurance entity shall disclose the reasons for the change in incurred claims and claim adjustment expenses recognized in the income statement attributable to insured events of prior fiscal years and indicate whether additional premiums or return premiums have been accrued as a result of the prior-year effects. ##### [944-40-50-4](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:339be07be793977e8262fa67ead7704b9607a0e5078b096216bea9897efff05f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, an insurance entity shall disclose management's policies and methodologies for estimating the liability for unpaid claims and claim adjustment expenses for difficult-to-estimate liabilities, such as any of the following: 1. a Claims for toxic waste cleanup 2. b Asbestos-related illnesses 3. c Other environmental remediation exposures. ### Short-Duration Contracts #### Information about the Liability for Unpaid Claims and Claim Adjustment Expenses ##### [944-40-50-4A](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4A) Pending content: yes Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:9d05b739354ee49dce45b761d0afb8a1ce905f56c3f0e8c66876e3c3d46545dc Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For [health insurance claims](https://asc.understandingaccounting.org/glossary/h/#health-insurance-claims "Claims related to the cost of medical treatments (other than claims related to liability insurance that covers claims against the insured for injury of or by others, such as, but not limited to, workers' compensation, disability, and general liability insurance)."), an insurance entity shall aggregate or disaggregate the information in paragraph [944-40-50-3](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-3) so that useful information is not obscured by either the inclusion of a large amount of insignificant detail or the aggregation of items that have significantly different characteristics (see paragraphs [944-40-55-9A through 55-9C](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9A) ). Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance: [270-10-65-1](https://asc.understandingaccounting.org/asc/270/10/#270-10-65-1)For [health insurance claims](https://asc.understandingaccounting.org/glossary/h/#health-insurance-claims "Claims related to the cost of medical treatments (other than claims related to liability insurance that covers claims against the insured for injury of or by others, such as, but not limited to, workers' compensation, disability, and general liability insurance)."), an insurance entity shall aggregate or disaggregate the information disclosed in interim and annual reporting periods in accordance with paragraph [944-40-50-3](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-3) so that useful information is not obscured by either the inclusion of a large amount of insignificant detail or the aggregation of items that have significantly different characteristics (see paragraphs [944-40-55-9A through 55-9C](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9A) ). ##### [944-40-50-4B](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4B) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:b61711eec0cbbb2515cee13b3bbab8547e3f1d640c02338e76b5a8ef2bdd2b56 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, an insurance entity shall disclose in a tabular format, as of the date of the latest statement of financial position presented, undiscounted information about claims development by [accident year](https://asc.understandingaccounting.org/glossary/a/#accident-year "The year in which a covered event (as defined by the terms of the contract) occurs."), including separate information about both of the following on a net basis after risk mitigation through [reinsurance](https://asc.understandingaccounting.org/glossary/r/#reinsurance "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."): 1. a Incurred claims and allocated [claim adjustment expenses](https://asc.understandingaccounting.org/glossary/c/#claim-adjustment-expenses "Expenses incurred in the course of investigating and settling claims.") 2. b Paid claims and allocated claim adjustment expenses. The disclosure about claims development by accident year should present information for the number of years for which claims incurred typically remain outstanding, but need not exceed 10 years including the most recent reporting period presented. All periods presented in the disclosure about claims development that precede the most recent reporting period shall be considered supplementary information. For the most recent reporting period presented, the disclosure about claims development shall include the total net outstanding claims for accident years not separately presented as part of the claims development (see paragraph [944-40-55-9E](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9E)). ##### [944-40-50-4C](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4C) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:472d8d8ba28777c27456d6e84473e2a5add5acb99f854e63a8311160af8b57f5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, an insurance entity shall reconcile the disclosure about incurred and paid claims development information to the aggregate carrying amount of the [liability for unpaid claims](https://asc.understandingaccounting.org/glossary/l/#liability-for-unpaid-claims "The amount needed to provide for the estimated ultimate cost of settling claims relating to insured events that have occurred on or before a particular date (ordinarily, the balance sheet date).") and claim adjustment expenses for the most recent reporting period presented, with separate disclosure of [reinsurance recoverable](https://asc.understandingaccounting.org/glossary/r/#reinsurance-recoverable "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.") on unpaid claims (see paragraph [944-40-55-9E](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9E)). ##### [944-40-50-4D](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4D) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:ab253fd1a42d68e5ed4b9412f17aa8e758f313e97b057f8d025ea2a79770e2c1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, an insurance entity shall quantitatively disclose the following for each accident year presented in the disclosures about incurred claims development (see paragraph [944-40-55-9E](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9E)) for the most recent reporting period presented: 1. a The total of incurred-but-not-reported liabilities plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses 2. b Cumulative claim frequency information, unless it is impracticable to do so. If it is impracticable to disclose claim frequency information, where the term _impracticable_ has the same meaning as impracticability in paragraph [250-10-45-9](https://asc.understandingaccounting.org/asc/250/10/#250-10-45-9), an insurance entity shall disclose that fact and explain why the disclosure is impracticable. ##### [944-40-50-4E](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4E) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:f78bfa4c1b9954f98335344b11087e8e25fe7254d80fbd9962e388bd0a0329ca Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For interim and annual reporting periods, for health insurance claims, an insurance entity shall disclose the total of incurred-but-not-reported liabilities plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. ##### [944-40-50-4F](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4F) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:d3153e50d39b0e42419d1212c8fe00fd2ec20bbba999a2ebf91e62ec10380867 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. An insurance entity shall describe both of the following: 1. a Its methodologies for: 1. 1 Determining the presented amounts of both incurred-but-not-reported liabilities and expected development on reported claims required by paragraphs [944-40-50-4D through 50-4E](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4D) 2. 2 Calculating cumulative claim frequency information required by paragraph [944-40-50-4D](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4D) 2. b Significant changes to those methodologies. When describing (2) above the insurance entity also shall include whether frequency is measured by claim event or individual claimant and how the insurance entity considers claims that do not result in a liability (see paragraph [944-40-55-9D](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9D)). ##### [944-40-50-4G](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4G) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:2b7b0ea19a19a80773cefeeaf4259a8991cfa16e4d043ba9526641538ac518b7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, for all claims except health insurance claims, an insurance entity shall disclose as supplementary information the historical average annual percentage payout of incurred claims by age, net of reinsurance (that is, history of claims duration by age), as of the most recent reporting period. This information shall be disclosed for the same number of accident years presented in the disclosures required by paragraph [944-40-50-4B](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4B) (see paragraphs [944-40-55-9F through 55-9G](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9F) ). ##### [944-40-50-4H](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4H) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:2b93c3875efeee73a958c282fbd41f3f895f484d3039559d8142f5d16291d272 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. An insurance entity shall disclose the information required by paragraphs [944-40-50-4B through 50-4G](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4B) and [944-40-50-5](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-5) in a manner that allows users to understand the amount, timing, and uncertainty of cash flows arising from the liabilities. An insurance entity shall aggregate or disaggregate the disclosures in paragraphs [944-40-50-4B through 50-4G](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4B) and [944-40-50-5](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-5) so that useful information is not obscured by either the inclusion of a large amount of insignificant detail or the aggregation of items that have significantly different characteristics (see paragraphs [944-40-55-9A through 55-9C](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-9A) ). An insurance entity need not provide disclosures about claims development for insignificant categories; however, balances for insignificant categories shall be included in the reconciliation required by paragraph [944-40-50-4C](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4C). ##### [944-40-50-4I](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-4I) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:f2565ffdae46e319e7cde13f84497a97eb3b703b087fe65c4d433a67ec5a55a8 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, an insurance entity shall disclose information about significant changes in methodologies and assumptions used in calculating the liability for unpaid claims and claim adjustment expenses, including reasons for the change and the effects on the financial statements for the most recent reporting period presented. ##### [944-40-50-5](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-5) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:e73ae92b05a129bda2e58647dad5cabfc52c7a42c450b87e0b9f96594d00a1f7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For liabilities for unpaid claims and claim adjustment expenses that are presented at present value in the financial statements, an insurance entity shall disclose all of the following in its annual financial statements: 1. a For each period presented in the statement of financial position, the [carrying amount](https://asc.understandingaccounting.org/glossary/c/#carrying-amount "The amount of an item as displayed in the financial statements.") of liabilities for unpaid claims and claim adjustment expenses relating to short-duration contracts that are presented at present value 2. b The range of interest rates used to discount the liabilities disclosed in (a). 3. c The aggregate amount of discount related to the time value of money deducted to derive the liabilities disclosed in (a) 4. d For each period presented in the statement of income, the amount of interest accretion recognized 5. e The line item(s) in the statement of income in which the interest accretion is classified. ### Long-Duration Contracts ##### [944-40-50-5A](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-5A) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:106be1319ab7b0782374a408a76ea0d808699defe9708204b9f9b53b51c65d10 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. An insurance entity shall disclose the information required by paragraphs [944-40-50-6 through 50-7C](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-6) in a manner that allows users to understand the amount, timing, and uncertainty of future cash flows arising from the liabilities. An insurance entity shall aggregate or disaggregate the disclosures in paragraphs [944-40-50-6 through 50-7C](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-6) so that useful information is not obscured by the inclusion of a large amount of insignificant detail or by the aggregation of items that have significantly different characteristics (see paragraphs [944-40-55-13F through 55-13H](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-13F) ). An insurance entity need not provide disclosures about liabilities for insignificant categories; however, balances for insignificant categories shall be included in the reconciliations. #### Liability for Future Policy Benefits and Additional Liability for Annuitization, Death, or Other Insurance Benefits ##### [944-40-50-6](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-6) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:d9bf97ece5e7fe94cc171946feba18db25ede593b80950c99c77226315c7f92e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual and interim reporting periods, an insurance entity shall disclose the following information about the [liability for future policy benefits](https://asc.understandingaccounting.org/glossary/l/#liability-for-future-policy-benefits "An accrued obligation to policyholders that relates to insured events, such as death or disability.") for traditional and limited-payment contracts described in paragraph [944-40-25-11](https://asc.understandingaccounting.org/asc/944/40/#944-40-25-11) and the additional liability for annuitization, death, or other insurance benefits described in paragraphs [944-40-25-26 through 25-27A](https://asc.understandingaccounting.org/asc/944/40/#944-40-25-26), as applicable to each of those liabilities: 1. a A year-to-date disaggregated tabular rollforward of the beginning balance to the ending balance (see paragraph [944-40-55-13I](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-13I)). Amounts shall be presented gross of any related [reinsurance recoverable](https://asc.understandingaccounting.org/glossary/r/#reinsurance-recoverable "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."). For the liability for future policy benefits for traditional and limited-payment contracts, the insurance entity shall present expected future [net premiums](https://asc.understandingaccounting.org/glossary/n/#net-premiums "For traditional and limited-payment long-duration insurance contracts, the net premium is that portion of the gross premium required to provide for all benefits and expenses, excluding acquisition costs or any costs that are required to be charged to expense as incurred. For long-duration participating life insurance contracts that meet the criteria in paragraph 944-20-15-3, the net premium is a constant ratio of guaranteed maximum gross premiums. The ratio is calculated at issue, so that the present value of all guaranteed death and endowment benefits is equal to the present value of all net premiums.") separate from expected future benefits. 2. b For each disaggregated rollforward presented, either as a component of the rollforward or as accompanying information: 1. 1 For traditional and limited-payment contracts, the undiscounted and discounted ending balance of expected future [gross premiums](https://asc.understandingaccounting.org/glossary/g/#gross-premium "The premium charged to a policyholder for an insurance contract. See also Net Premiums.") and expected future benefits and expenses 2. 2 Actual experience during the period for mortality, morbidity, and lapses, compared with what was expected for the period 3. 3 The amount of revenue and interest recognized in the statement of operations 4. 4 The amount of any related reinsurance recoverable 5. 5 The weighted-average duration of the liability 6. 6 The weighted-average interest rate, a description of the technique(s) used to determine the interest rate assumption, and information about any adjustments to observable market information. 3. c A reconciliation of the disaggregated rollforwards to the aggregate ending carrying amount of the liability for future policy benefits and the additional liability in the statement of financial position and the total revenue and interest recognized in the statement of operations. 4. d For traditional and limited-payment contracts, qualitative and quantitative information about adverse development that resulted in an immediate charge to current-period net income because of net premiums exceeding gross premiums. ##### [944-40-50-7](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-7) Pending content: yes Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:dce7db436a685c9187b09dd68d9fb0a9f0d8693121aea6ccec9d07886847801e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, and to the extent required by Topic 270 on interim reporting, an insurance entity shall disclose information about: 1. a The significant inputs, judgments, assumptions, and methods used in measuring the liability for future policy benefits and the additional liability 2. b Changes in those significant inputs, judgments, and assumptions during the period, and the effect of those changes on the measurement of the liability. Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance: [270-10-65-1](https://asc.understandingaccounting.org/asc/270/10/#270-10-65-1)For interim and annual reporting periods, an insurance entity shall disclose information about: 1. a The significant inputs, judgments, assumptions, and methods used in measuring the liability for future policy benefits and the additional liability 2. b Changes in those significant inputs, judgments, and assumptions during the period, and the effect of those changes on the measurement of the liability. #### Liability for Policyholders' Account Balances ##### [944-40-50-7A](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-7A) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:45f074a52e045c1988e825375bebab7619d14de4c8c77ff73ca98f78143205a3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual and interim reporting periods, an insurance entity shall disclose the following information about the liability for policyholders' account balances described in paragraph [944-40-25-14](https://asc.understandingaccounting.org/asc/944/40/#944-40-25-14) (excluding separate accounts described in paragraph [944-80-25-2](https://asc.understandingaccounting.org/asc/944/80/#944-80-25-2)): 1. a A year-to-date disaggregated tabular rollforward of the beginning balance to the ending balance (see paragraph [944-40-55-13J](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-13J)). 2. b For each disaggregated rollforward: 1. 1 The weighted-average crediting rate 2. 2 The guaranteed benefit amounts in excess of the current account balances 3. 3 [Cash surrender value](https://asc.understandingaccounting.org/glossary/c/#cash-surrender-value "The amount of cash that may be realized by the owner of a life insurance contract or annuity contract upon discontinuance and surrender of the contract before its maturity. The cash surrender value may be different from the policy account balance due to outstanding loans (including accrued interest) and surrender charges. (Note: The use of this glossary term is not consistent among legal contracts. When determining the applicability of this term, the economic substance of the item shall be taken into consideration.)"). 3. c A reconciliation of the disaggregated rollforwards to the aggregate ending carrying amount of the liability for policyholders' account balances in the statement of financial position. 4. d A tabular presentation of policyholders' account balances by range of guaranteed minimum crediting rates and the related range of the difference between rates being credited to policyholders and the respective guaranteed minimums. #### Market Risk Benefits ##### [944-40-50-7B](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-7B) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:470fc7f04e1012b296eac74239a27583b7b6ecf922a6a466a6c6ed7aa726bd7b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual and interim reporting periods, an insurance entity shall disclose the following information about [market risk benefits](https://asc.understandingaccounting.org/glossary/m/#market-risk-benefit "A contract or contract feature in a long-duration contract issued by an insurance entity that both protects the contract holder from other-than-nominal capital market risk and exposes the insurance entity to other-than-nominal capital market risk."): 1. a A year-to-date disaggregated tabular rollforward of the beginning balance to the ending balance (see paragraph [944-40-55-13K](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-13K)) 2. b For each disaggregated rollforward, the guaranteed benefit amounts in excess of the current account balances (for example, the [net amount at risk](https://asc.understandingaccounting.org/glossary/n/#net-amount-at-risk-relating-to-variable-annuity-contracts "The guaranteed benefit in excess of the current account balance. For guarantees in the event of death, the net amount at risk is the minimum guaranteed amount available to the contract holder upon death in excess of the contract holder's account balance at the balance sheet date. For guarantees of amounts at annuitization, the net amount at risk is defined as the present value of the minimum guaranteed annuity payments available to the contract holder determined in accordance with the terms of the contract in excess of the current account balance.")) and weighted-average attained age of contract holders 3. c A reconciliation of the disaggregated rollforwards to the aggregate ending carrying amount in the statement of financial position, disaggregated between market risk benefits that are in an asset position and those that are in a liability position. ##### [944-40-50-7C](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-7C) Pending content: yes Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:1d79c3285f960aac1b4dbc0e7b3c04effe2e18df3d0c49fa8c073bb87b9c93bc Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For annual reporting periods, and to the extent required by Topic 270 on interim reporting, an insurance entity shall disclose information about: 1. a The significant inputs, judgments, assumptions, and methods used in measurement 2. b Changes in those significant inputs, judgments, and assumptions during the period and the effect of those changes on the measurement of market risk benefits. Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance: [270-10-65-1](https://asc.understandingaccounting.org/asc/270/10/#270-10-65-1)For interim and annual reporting periods, an insurance entity shall disclose information about: 1. a The significant inputs, judgments, assumptions, and methods used in measurement 2. b Changes in those significant inputs, judgments, and assumptions during the period and the effect of those changes on the measurement of market risk benefits. #### Participating Contracts ##### [944-40-50-8](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-8) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:6982ef15da8bc1df97bbb54f8c44879655dfa8afd3776f16f2673bb977bab3d7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. An insurance entity shall disclose in the financial statements, with respect to long-duration participating life-insurance contracts that meet the criteria in paragraph [944-20-15-3](https://asc.understandingaccounting.org/asc/944/20/#944-20-15-3), the methods and assumptions used in estimating the liability for future policy benefits. ### Financial Guarantee Insurance Contracts ##### [944-40-50-9](https://asc.understandingaccounting.org/asc/944/40/#944-40-50-9) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:48.542Z to 2026-09-10T02:16:48.542Z Record version: sha256:fde7bc74c942e0567cf52ce3da0ac138489df8cb66e4248b11c60ba64a7c9eee Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. To meet the disclosure objective in paragraph [944-20-50-7](https://asc.understandingaccounting.org/asc/944/20/#944-20-50-7), an insurance entity shall disclose all of the following information for each annual period (and in an interim period if a significant change has occurred in that interim period) unless otherwise indicated below: 1. a For the claim liability: 1. 1 The weighted-average risk-free rate used to discount the claim liability. 2. 2 The significant component(s) of the change in the claim liability for the period, including all of the following: 1. i Changes in the discount rate 2. ii The accretion of the discount on the claim liability 3. iii Changes in the timing 4. iv Changes in the likelihood of default. 3. 3 The amount relating to the component(s) in item (2). 4. 4 The line item in the statement of income where the amount or amounts in item (2) are reported (unless separately disclosed). 5. 5 For each interim period, a schedule of insured financial obligations at the end of each interim period detailing, at a minimum, all of the following for each category or grouping of these financial obligations: 1. i Number of issued and outstanding financial guarantee insurance contracts 2. ii Remaining weighted-average contract period 3. iii Insured contractual payments outstanding, segregating principal and interest 4. iv Gross claim liability 5. v Gross potential recoveries 6. vi Discount, net (both claim liability and potential recoveries) 7. vii Net claim liability 8. viii [Reinsurance recoverables](https://asc.understandingaccounting.org/glossary/r/#reinsurance-recoverable "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.") 9. ix Unearned premium revenue. 2. b A description of the insurance entity's risk-management activities used to track and monitor deteriorating insured financial obligations, including all of the following: 1. 1 A description of each grouping or category used to track and monitor deteriorating insured financial obligations 2. 2 The insurance entity's policies for placing an insured financial obligation in, and monitoring, each grouping or category 3. 3 The insurance entity's policies for avoiding or mitigating claim liabilities 4. 4 The related expense and liability reported during the period for risk mitigation activities (not including [reinsurance](https://asc.understandingaccounting.org/glossary/r/#reinsurance "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.")) 5. 5 A description of where the risk mitigation activities expense and liability are reported in the statement of income and the statement of financial position, respectively. Example 2 (see paragraph [944-40-55-32](https://asc.understandingaccounting.org/asc/944/40/#944-40-55-32)) illustrates the application of the requirement in items (a)(5) and (b)(1) through (5).