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The following information shall be disclosed in the financial statements of the insurance entity:
  1. a
    The general nature of the contracts reported in separate accounts, including the extent and terms of minimum guarantees (including market risk benefits)
  2. b
    The basis of presentation for both of the following:
    1. 1
      Separate account assets and liabilities
    2. 2
      Related separate account activity.
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2018-12.
  4. d
    Subparagraph superseded by Accounting Standards Update No. 2018-12.
  5. e
    The aggregate fair value of assets, by major investment asset category, supporting separate accounts as of each date for which a statement of financial position is presented
  6. f
    The amount of gains and losses recognized on assets transferred to separate accounts for the periods presented.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1The following information shall be disclosed in the interim and annual financial statements of the insurance entity:
  1. a
    The general nature of the contracts reported in separate accounts, including the extent and terms of minimum guarantees (including market risk benefits)
  2. b
    The basis of presentation for both of the following:
    1. 1
      Separate account assets and liabilities
    2. 2
      Related separate account activity.
  3. c
  4. d
  5. e
    The aggregate fair value of assets, by major investment asset category, supporting separate accounts as of each date for which a statement of financial position is presented
  6. f
    The amount of gains and losses recognized on assets transferred to separate accounts for the periods presented.
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For annual and interim reporting periods, an insurance entity shall disclose the following information about separate account liabilities described in paragraph 944-80-25-2:
  1. a
    A year-to-date disaggregated tabular rollforward of the beginning balance to the ending balance disaggregated in accordance with paragraph 944-40-50-5A
  2. b
    For each separate account liability rollforward presented, the related cash surrender values
  3. c
    A reconciliation of the separate account liability rollforwards to the aggregated ending carrying amount of the liability in the statement of financial position.
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