{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/60/#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":"944-60","subtopic_title":"Premium Deficiency and Loss Recognition","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":"Short-Duration Contracts","heading":null,"paragraphs":[{"citation":"944-60-50-1","para":"50-1","html":"
An insurance entity shall disclose in its financial statements whether it considers anticipated investment income in determining if a premium deficiency relating to short-duration contracts exists.
","snippet":"An insurance entity shall disclose in its financial statements whether it considers anticipated investment income in determining if a premium deficiency relating to short-duration contracts exists.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e32018304669b5161b6ce7ca2a288c26bac9ad9d9ea41dc89c8812ab2c89cdc7","downloaded_from":"2026-09-10T02:18:01.966Z","last_downloaded_at":"2026-09-10T02:18:01.966Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479482","source_sha256":"d095d899f2343cba92aaaf470d7361c8a413d933785d16551cd3b46bb2f5394b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0f2fb062b32f821aeaa0a11355509616844d6b6ded5fc65b861e46c407082752","downloaded_from":"2026-09-10T02:18:01.966Z","last_downloaded_at":"2026-09-10T02:18:01.966Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479482","source_sha256":"d095d899f2343cba92aaaf470d7361c8a413d933785d16551cd3b46bb2f5394b"}},{"block":"Long-Duration Contracts","heading":null,"paragraphs":[{"citation":"944-60-50-2","para":"50-2","html":"
For annual reporting periods, and to the extent required by Topic 270 on interim reporting, an insurance entity shall disclose the following:
  1. a
    The amount of a liability that is established as a result of a premium deficiency and loss recognition testing determined in accordance with paragraphs
    944-60-25-7 through 25-9
    and a description of the factors that led to the establishment of the liability
  2. b
    Information about the methodology used when performing premium deficiency testing in accordance with paragraphs
    944-60-25-7 through 25-9
  3. c
    Whether the entity considered anticipated investment income when performing premium deficiency testing in accordance with paragraphs
    944-60-25-7 through 25-9
    and, if so, what that assumption was.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, an insurance entity shall disclose the following:
  1. a
    The amount of a liability that is established as a result of a premium deficiency and loss recognition testing determined in accordance with paragraphs
    944-60-25-7 through 25-9
    and a description of the factors that led to the establishment of the liability
  2. b
    Information about the methodology used when performing premium deficiency testing in accordance with paragraphs
    944-60-25-7 through 25-9
  3. c
    Whether the entity considered anticipated investment income when performing premium deficiency testing in accordance with paragraphs
    944-60-25-7 through 25-9
    and, if so, what that assumption was.
","snippet":"For annual reporting periods, and to the extent required by Topic 270 on interim reporting, an insurance entity shall disclose the following:\n(a) The amount of a liability that is established as a result of a premium def…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab47f572fcb5a9d8e9eed6c5f5282de6c05bde812aad768bddb73273f487c3de","downloaded_from":"2026-09-10T02:18:01.966Z","last_downloaded_at":"2026-09-10T02:18:01.966Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479482","source_sha256":"d095d899f2343cba92aaaf470d7361c8a413d933785d16551cd3b46bb2f5394b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67ba6e033b80264190fc21148dea85d6e820919cd85db1f27d1f7af346ff88f9","downloaded_from":"2026-09-10T02:18:01.966Z","last_downloaded_at":"2026-09-10T02:18:01.966Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479482","source_sha256":"d095d899f2343cba92aaaf470d7361c8a413d933785d16551cd3b46bb2f5394b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3d3e7377bc855d298be8447c4e0c3b27648daa97479c9b48406507017f60c15","downloaded_from":"2026-09-10T02:18:01.966Z","last_downloaded_at":"2026-09-10T02:18:01.966Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479482","source_sha256":"d095d899f2343cba92aaaf470d7361c8a413d933785d16551cd3b46bb2f5394b"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3d3e7377bc855d298be8447c4e0c3b27648daa97479c9b48406507017f60c15","downloaded_from":"2026-09-10T02:18:01.966Z","last_downloaded_at":"2026-09-10T02:18:01.966Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479482","source_sha256":"d095d899f2343cba92aaaf470d7361c8a413d933785d16551cd3b46bb2f5394b"}}