{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/80/#55-implementation-guidance-and-illustrations","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":"944-80","subtopic_title":"Separate Accounts","section":{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"944-80-55-1","para":"55-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Example illustrates the application of the guidance in Sections <a altsource=\"GUID-CFC92E3C-1FBD-4F85-9929-D0B64B50629B.ditamap\" class=\"ditamap\">944-80-35</a> and <a altsource=\"GUID-3D422089-EDD6-4D26-9CCC-3180EECAF1D7.ditamap\" class=\"ditamap\">944-80-40</a> on accounting for transfers from a <a href=\"/glossary/g/#general-account\" class=\"term\" title=\"All operations of an insurance entity that are not reported in the separate account(s).\"><span>general account</span></a> to a <a href=\"/glossary/s/#separate-account\" class=\"term\" title=\"A separate investment account established and maintained by an insurance entity under relevant state insurance law to which funds have been allocated for certain contracts of the insurance entity or similar accounts used for foreign originated products. The term separate accounts includes separate accounts and subaccounts or investment divisions of separate accounts.\"><span>separate account</span></a>.<span class=\"sfragment\" id=\"sfr_09F2B8BE-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The general account transfers to the <a href=\"/glossary/s/#separate-account-arrangement\" class=\"term\" title=\"An arrangement under which all or a portion of a contract holder's funds is allocated to a specific separate account maintained by the insurance entity.\"><span>separate account arrangement</span></a>, as <a href=\"/glossary/s/#seed-money\" class=\"term\" title=\"An investment of non-contract-holder funds by an insurer in a separate account when it is established, to support the initial or ongoing operations of the separate account.\"><span>seed money</span></a>, a debt security with a book value of $60 and a <a href=\"/glossary/f/#fair-value\" class=\"term\" title=\"The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.\"><span>fair value</span></a> of $100. </span></span><span class=\"sfragment\" id=\"sfr_09F2BAD5-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">No gain is recognized on the initial transfer to the separate account arrangement. </span></span></div></div>","snippet":"This Example illustrates the application of the guidance in Sections 944-80-35 and 944-80-40 on accounting for transfers from a general account to a separate account.The general account transfers to the separate account …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5475d5804c7a7227174fa5af3a6959f1187fbbe5dd89de1fd06e949c1d8cfa62","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-2","para":"55-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2BC50-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Contract holders subsequently direct $100 to the separate account arrangement, reducing the general account's proportionate interest to 50 percent. </span></span><span class=\"sfragment\" id=\"sfr_09F2BD83-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Assuming the fair value of the debt security is still $100, the general account recognizes a gain of $20, as a result of the contract holder investment into the separate account arrangement. </span></span></div></div>","snippet":"Contract holders subsequently direct $100 to the separate account arrangement, reducing the general account's proportionate interest to 50 percent. Assuming the fair value of the debt security is still $100, the general …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f1c1676043230f803270f3d1f1dfc951c1385e2dce542187aa5e289724ee29bb","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-3","para":"55-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2BEBF-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">In subsequent years, if the insurance entity reduces its interest in the separate account arrangement through withdrawal of cash or additional investment by contract holders, additional gains would be recognized if the fair value of the security continues to exceed the general account's basis in the security. </span></span></div></div>","snippet":"In subsequent years, if the insurance entity reduces its interest in the separate account arrangement through withdrawal of cash or additional investment by contract holders, additional gains would be recognized if the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:407ebf907ef1c2dbda5861672db445845413649e857d0c4df5a26244610780a1","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-4","para":"55-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2C046-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Example illustrates the guidance in this Subtopic on the presentation in the financial statements of an insurance entity's proportionate interest in separate accounts. </span></span></div></div>","snippet":"This Example illustrates the guidance in this Subtopic on the presentation in the financial statements of an insurance entity's proportionate interest in separate accounts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dfd4df808039e4b658fd035aba06d6d417b048f38dfb0b06864594921dadf799","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-5","para":"55-5","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2C1F0-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">An insurance entity has a separate account that consists of two subaccounts, Subaccount ABC and Subaccount XYZ. </span></span><span class=\"sfragment\" id=\"sfr_09F2C393-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The insurance entity has a 10 percent interest in Subaccount XYZ, determined based on the fair value of Subaccount XYZ's investments. </span></span></div></div>","snippet":"An insurance entity has a separate account that consists of two subaccounts, Subaccount ABC and Subaccount XYZ. The insurance entity has a 10 percent interest in Subaccount XYZ, determined based on the fair value of Suba…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ca0d12cd3fe5c761cc0cd30ca22d6f89d29588d0ad22f1ee28cd7d19ba048fd0","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-6","para":"55-6","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2C530-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Subaccount XYZ has debt securities, mutual fund investments, mortgage loans, and real estate. </span></span><span class=\"sfragment\" id=\"sfr_09F2C6B2-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Subaccount XYZ carries its investments at fair value; if the general account held these investments, they would be accounted for at amortized cost or fair value, depending on the applicable generally accepted accounting principles (GAAP). </span></span></div></div>","snippet":"Subaccount XYZ has debt securities, mutual fund investments, mortgage loans, and real estate. Subaccount XYZ carries its investments at fair value; if the general account held these investments, they would be accounted f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e42b55fe554a800e17fb91a3e790eec02fb25c0dc9a8ef75c0b0086cedeb3516","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-7","para":"55-7","html":"<div class=\"asc-body\"><div class=\"norm-text\"><a href=\"/updates/asu-2010-15/\" class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2010-15</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2010-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:69d08b3d36a9c4dd1502fa267e5e77e2fa82fdb722b9d138ad55a6aeacafa33d","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-8","para":"55-8","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2C83B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The assets of Subaccount XYZ follow. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-BC6A655A-9479-45C0-A362-BC387A7A521C\"><li class=\"li\" id=\"d3e19592-158474__SL75241744-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-6CA8E9CB-5C6B-4572-AB91-AFCC3B017A05-low.gif\" altsource=\"GUID-6CA8E9CB-5C6B-4572-AB91-AFCC3B017A05-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F2CF21-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\">Investment Separate Account at Fair Value Separate Account at General Account Value(a) Insurer's Interest Proportionate Interest Debt securities $400 $400 10% $40 Equity securities 300 300 10% 30 Mortgage loans 250 200 10% 20 Real estate 130 100 10% 10 Total assets \" $1,080 \" \" $1,000 \" 10% $100 (a)\tUnderlying investments valued in a manner similar to any other general account asset as prescribed in Subtopics 944-310 and 944-360. </div></div></div></li></ul></div></div>","snippet":"The assets of Subaccount XYZ follow.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0b14296ebdd8392fb60f3bb65c14e36d16429fd846f7dfec63794b0214f856b9","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-9","para":"55-9","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2D0AC-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Balances presented in the insurer's statement of financial condition follow. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-4B778EF8-FEC9-4492-892F-DC23E5AA36BE\"><li class=\"li\" id=\"d3e19592-158474__SL75241746-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-79D0E75B-8BA9-421D-A753-31E8F166FD62-low.gif\" altsource=\"GUID-79D0E75B-8BA9-421D-A753-31E8F166FD62-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F2D605-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\">Assets: Debt securities(a) 40 \"Equity securities(a), (b)\" 30 Mortgage loans 20 Real estate 10 Total investments 100 Separate account—Assets $972 (c) Liabilities: Separate account—Liabilities $972 (a)\tDebt securities need to be designated as either trading or available-for-sale. (b)\t\"If Subaccount XYZ separate account held an investment in a mutual fund, a typical situation would be that the insurance entity's investment would represent less than a 20 percent ownership and the interest would be reported as an equity security under Topic 321.\" (c)\t\"Separate account assets at fair value of $1,080 x 90% (contract holders' proportionate interest).\" </div></div></div></li></ul></div></div>","snippet":"Balances presented in the insurer's statement of financial condition follow.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c339a80abb47c8c86e43b47336ec9ef016c38944ac3eedde1181762a7565c270","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-10","para":"55-10","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2D77B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The applicable disclosures for the insurer's proportionate interest in these specific assets would be included within the applicable disclosures for the general account invested assets. </span></span></div></div>","snippet":"The applicable disclosures for the insurer's proportionate interest in these specific assets would be included within the applicable disclosures for the general account invested assets.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:37e9e52b8bd45030a143ab0258130facf2a06d24b5a8c1ac68fc464e849fac06","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-11","para":"55-11","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2E03B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The XYZ separate account's balances for net investment income and gains and losses follow. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-28A1BCAD-19F3-4B46-BC0B-9AECD4466DD4\"><li class=\"li\" id=\"d3e19592-158474__SL82930692-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-290097FD-B20F-4F7F-B2BA-A127B17BA06D-low.gif\" altsource=\"GUID-290097FD-B20F-4F7F-B2BA-A127B17BA06D-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F2E5C6-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\"> XYZ Separate Account Total Insurer's Interest Apportioned Values General Account Classification Net investment income $65 10% 6.5 Revenue Realized gains and losses 20 10% 2.0 Revenue Unrealized gains and losses: Debt securities 8 10% 0.8 Revenue or other comprehensive income\t(a) Equity securities 25 10% 2.5 Revenue Mortgage loans 5 10% 0.5 Not recognized\t(b) Real estate 2 10% 0.2 Not recognized\t(b) Total net investment income and gains and losses $125 12.5 (a)\t\"Unrealized gains shall be included in revenue or other comprehensive income depending on security classification as trading or available for sale. Credit losses, as noted in paragraph 944-80-25-9(a), shall be measured in accordance with Topic 326. \" (b)\tUnrealized gains are not recognized. </div></div></div></li></ul></div></div>","snippet":"The XYZ separate account's balances for net investment income and gains and losses follow.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53850bcd138a9f8cbac9a2e7462b341bf2b5b6903e797852351a876df3e52b58","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-12","para":"55-12","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2E6EE-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Assume the following in the second year: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F2E7D4-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Insurer interest is lowered to 5 percent on the last day of the first quarter. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F2E8C1-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">At the time of dilution: </span></span></div><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">1</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F2E9B0-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Separate account at fair value was $ 1,090. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">2</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F2EAC7-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Separate account at general account value was $ 1,007. </span></span></div></li></ol></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F2EBA8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Fair value of each investment increases 1 percent. </span></span></div></li></ol></div></div>","snippet":"Assume the following in the second year:\n(a) Insurer interest is lowered to 5 percent on the last day of the first quarter.\n(b) At the time of dilution:\n(1) Separate account at fair value was $ 1,090.\n(2) Separate accoun…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fc5f815978f637a10c01cfd074d4b1a1f87cf8a3618db4b5ea6050b84a4b331d","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-13","para":"55-13","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2ECA0-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Assets of Subaccount XYZ at the end of first quarter follow. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-FD6131D7-5791-429A-A88B-32DEC81BCCD3\"><li class=\"li\" id=\"d3e19592-158474__SL6349145-158474\"><div class=\"p\"><div class=\"fig figure fignone\" id=\"d3e19592-158474__tbl-d3e19691\"><img src=\"/asc-img/GUID-ADFC21B6-737F-463B-8416-AC5808CA7A51-low.gif\" altsource=\"GUID-ADFC21B6-737F-463B-8416-AC5808CA7A51-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F2F065-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\">Investment Separate Account at Fair Value Separate Account at General Account Value Insurer's Interest Proportionate Interest After Dilution Debt securities $404 $404 5% 20 Equity securities 303 303 5% 15 Mortgage loans 252 200 5% 10 Real estate 131 100 5% 5 Total assets \" $1,090 \" \" $1,007 \" 50 </div></div></div></li></ul></div></div>","snippet":"Assets of Subaccount XYZ at the end of first quarter follow.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6f4f2851769351deba93396dee2de24d2763b4414de0e29d6e7539808c609bb2","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-14","para":"55-14","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2F145-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Balances presented in the insurer's statement of financial condition follow. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-84EC0A2A-E2D7-4FE6-868C-55D4EB405AFD\"><li class=\"li\" id=\"d3e19592-158474__SL6349146-158474\"><div class=\"p\"><div class=\"fig figure fignone\" id=\"d3e19592-158474__tbl-d3e19700\"><img src=\"/asc-img/GUID-64F70507-AFDC-4E63-B6B8-068131B756DD-low.gif\" altsource=\"GUID-64F70507-AFDC-4E63-B6B8-068131B756DD-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F2F562-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\">Assets: Debt securities 20 Equity securities 15 Mortgage loans 10 Real estate 5 Total investments 50 Separate account—Assets \" $1,036 \"\t(a) (a)\t\"$1,090 x 95%\" </div></div></div></li></ul></div></div>","snippet":"Balances presented in the insurer's statement of financial condition follow.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:250adaa29835d44ac987751c21f611f6cad601db33e3e6c3b9bb32b4cce8dd10","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-15","para":"55-15","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F2F648-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The Subaccount XYZ separate account's balances for net investment income and gains and losses for the quarter follow. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-7E01126D-0A7D-415D-8170-0619FD3705A5\"><li class=\"li\" id=\"d3e19592-158474__SL6349147-158474\"><div class=\"p\"><div class=\"fig figure fignone\" id=\"d3e19592-158474__tbl-d3e19712\"><img src=\"/asc-img/GUID-C88B23A3-27BC-49AB-AAF1-06148F760ECE-low.gif\" altsource=\"GUID-C88B23A3-27BC-49AB-AAF1-06148F760ECE-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F2FA59-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\"> XYZ Separate Account Total Insurer's Interest Apportioned Values Net investment income $16.3 10% 1.6 Unrealized gains and losses: Debt securities 4.0 10% 0.4 Equity securities 3.0 10% 0.3 Mortgage loans 2.5 10% 0.3 Real estate 1.2 10% 0.1 Total net investment income and gains and losses $27 2.7 </div></div></div></li></ul></div></div>","snippet":"The Subaccount XYZ separate account's balances for net investment income and gains and losses for the quarter follow.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:02ad04033278b2df842410d2df8d426f6438d620810d0350a4b043af414262e6","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-16","para":"55-16","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F30113-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The accounting for the seed money change for the quarter follows. </span></span><ul class=\"ul simple\" id=\"d3e19592-158474__GUID-6BE95863-09CA-4343-8A9F-12883DB1B511\"><li class=\"li\" id=\"d3e19592-158474__SL82930693-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-D4B9FA3A-B01B-4A87-829E-13B6B82D985A-low.gif\" altsource=\"GUID-D4B9FA3A-B01B-4A87-829E-13B6B82D985A-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F30502-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\">Amount due to proportionate interest in revenue 2.3 Gain recognition on dilution of interest 4.2\t(a) (a)\t\"Fair value of separate account less general account value of separate account multiplied by dilution, ($1,090 - $1,007) × 5%. This is the gain on mortgage loans and real estate, assuming debt securities have been classified as trading. If debt securities had been classified as available for sale, the gain or loss on dilution would also be calculated using the amortized cost basis of debt securities.\" </div></div></div></li></ul></div></div>","snippet":"The accounting for the seed money change for the quarter follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1aa31705b3e4044c3672c8ddd5929dccb450042b164a27fd4056284376bd8ac0","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-17","para":"55-17","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F305FA-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The aggregate fair value of assets, by major investment asset category, supporting separate accounts follows. </span></span><ul class=\"ul simple\" id=\"SL117422396-158474__GUID-37090534-F224-48CF-935D-9634CA02F431\"><li class=\"li\" id=\"SL117422396-158474__SL117422399-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-257366DA-B887-4E0E-A486-F81B744EEB9B-low.gif\" altsource=\"GUID-257366DA-B887-4E0E-A486-F81B744EEB9B-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F30AA1-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\"> Asset Type \"December 31, 20X1\" \"December 31, 20X2\" U.S. Treasury securities and obligations of U.S. government corporations and agencies $ $ Obligations of states of the United States and political subdivisions of the states Corporate debt securities: —Investment grade —Noninvestment grade Foreign debt securities Mortgage-backed securities Equity securities (including mutual funds) (a) Real estate Mortgage loans Derivative financial instruments Cash and cash equivalents Total \"$ X,XXX,XXX\" \"$ X,XXX,XXX\" (a) The insurance entity may want to consider disclosing mutual funds by investment objective or other meaningful groupings that are useful in understanding the nature of the guarantee risk. </div></div></div></li></ul></div></div>","snippet":"The aggregate fair value of assets, by major investment asset category, supporting separate accounts follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:78b5685a427968dc46438f12a9b15e1eac828240a7a48ad2a3e09dc98ecb15a6","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-18","para":"55-18","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F30BDF-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Example illustrates the separate account liability information that an insurance entity should disclose to meet the requirements in paragraph <a href=\"/asc/944/80/#944-80-50-2\" class=\"xref\">944-80-50-2</a>. </span></span><ul class=\"ul simple\" id=\"SL117422400-158474__GUID-5FB1248D-1442-40B3-92F8-E1F4CB2BCC43\"><li class=\"li\" id=\"SL117422400-158474__SL117422404-158474\"><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F30CFD-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Note X: Separate Account Liability </span></span></div></li><li class=\"li\" id=\"SL117422400-158474__SL117422405-158474\"><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F30E1B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The balances of and changes in separate account liabilities follow. </span></span></div></li><li class=\"li\" id=\"SL117422400-158474__SL117422406-158474\"><ul class=\"ul simple\" id=\"SL117422400-158474__GUID-DE57769E-6AFA-4960-9FCB-211EB477283A\"><li class=\"li\" id=\"SL117422400-158474__SL117422407-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-078325A9-AA15-4678-A82C-A16D9F046809-low.gif\" altsource=\"GUID-078325A9-AA15-4678-A82C-A16D9F046809-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F31313-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\"> \"December 31,\" 20X2 20X1 Variable Universal Life Variable Annuities Variable Universal Life Variable Annuities \"Balance, beginning of year\" $BBB $AAA $XXX $XXX Premiums and deposits XXX XXX XXX XXX Policy charges (XXX) (XXX) (XXX) (XXX) Surrenders and withdrawals (XXX) (XXX) (XXX) (XXX) Benefit payments (XXX) (XXX) (XXX) (XXX) Investment performance XXX XXX XXX XXX Net transfers from (to) general account XXX XXX XXX XXX Other charges (XXX) (XXX) (XXX) (XXX) \"Balance, end of year\" $DDD $CCC $BBB $AAA Cash surrender value (a) $XXX $XXX $XXX $XXX (a)\tCash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges. </div></div></div></li></ul></li><li class=\"li\" id=\"SL117422400-158474__SL117422408-158474\"><div class=\"p\"><span class=\"sfragment\" id=\"sfr_09F31440-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The reconciliation of separate account liabilities to the separate account liability balance in the consolidated statement of financial position follows. </span></span></div></li><li class=\"li\" id=\"SL117422400-158474__SL117422409-158474\"><ul class=\"ul\" id=\"SL117422400-158474__GUID-D4C5FB84-F0CA-4B9F-AFA0-06C79043B639\"><li class=\"li\" id=\"SL117422400-158474__SL117422410-158474\"><div class=\"p\"><div class=\"fig figure fignone\"><img src=\"/asc-img/GUID-FCC87EF9-63F4-489C-90E8-3B8B6B0680AA-low.gif\" altsource=\"GUID-FCC87EF9-63F4-489C-90E8-3B8B6B0680AA-low.gif\" loading=\"lazy\"><span class=\"sfragment\" id=\"sfr_09F3194A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span><div class=\"figcaption\"> \"December 31, \" 20X2 20X1 Variable universal life $DDD $BBB Variable annuity CCC AAA Other XXX XXX Total $XXX $XXX </div></div></div></li></ul></li></ul></div></div>","snippet":"This Example illustrates the separate account liability information that an insurance entity should disclose to meet the requirements in paragraph 944-80-50-2.\nNote X: Separate Account Liability\nThe balances of and chang…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9a1731effdec367bffc717a88a298ade2644f93cbdec59b419c6e27d3f94cbde","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-19","para":"55-19","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F31AAB-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Example illustrates a deferred variable annuity that provides the contract holder with a number of investment alternatives. </span></span><span class=\"sfragment\" id=\"sfr_09F31C00-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The contract holder deposits $100,000 in a deferred variable annuity that has no front-end load. </span></span><span class=\"sfragment\" id=\"sfr_09F31D3C-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The contract holder directs the allocation of the deposit to the following: aggressive growth equity fund, $25,000; high-yield corporate bond fund, $25,000; 5-year guaranteed interest separate account, $25,000; and general account, $25,000. </span></span></div></div>","snippet":"This Example illustrates a deferred variable annuity that provides the contract holder with a number of investment alternatives. The contract holder deposits $100,000 in a deferred variable annuity that has no front-end …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0cc4031f01ef2cba236a824b7b2f082740b9043f4c4bae89a849ac0a1b37c46f","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-20","para":"55-20","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F31E97-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Assets representing the contract holder's funds in the aggressive growth equity fund and high-yield corporate bond fund separate accounts satisfy all the criteria of paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/944/80/#944-80-25-2\" class=\"xref\">944-80-25-2 through 25-3</a></div>, <a href=\"/asc/944/80/#944-80-30-1\" class=\"xref\">944-80-30-1</a>, <a href=\"/asc/944/80/#944-80-35-2\" class=\"xref\">944-80-35-2</a>, and <div class=\"xref-range displayInline\"><a href=\"/asc/944/80/#944-80-45-2\" class=\"xref\">944-80-45-2 through 45-3</a></div>. </span></span><span class=\"sfragment\" id=\"sfr_09F32004-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The allocation to the guaranteed interest separate account does not satisfy the criterion in paragraph <a href=\"/asc/944/80/#944-80-25-2\" class=\"xref\">944-80-25-2</a> for separate account treatment. </span></span><span class=\"sfragment\" id=\"sfr_09F3213A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Therefore, assets representing the contract holder's funds in the guaranteed interest separate account will be presented in the insurance entity's financial statements integrated with general account assets and liabilities. </span></span><span class=\"sfragment\" id=\"sfr_09F3227A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This reporting is appropriate even in those instances where the separate account arrangements with those contracts have been approved by regulatory authorities as separate account contracts. </span></span></div></div>","snippet":"Assets representing the contract holder's funds in the aggressive growth equity fund and high-yield corporate bond fund separate accounts satisfy all the criteria of paragraphs 944-80-25-2 through 25-3, 944-80-30-1, 944-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:028ec926f7f76e879c3bb1b4de40cfa6edb84daf8e214e724ede77d7449c7129","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480078","source_sha256":"ca467c37a3af6c8a764ba2a7a719af92710bbca55f9ab923b00fc149d6749b2a"}},{"citation":"944-80-55-21","para":"55-21","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_09F323A6-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The guaranteed interest separate account allocations are often referred to as spread products, where the insurer bears the investment risk and its profits are derived primarily from the excess of investment performance over net amounts credited to the contract holder. </span></span><span class=\"sfragment\" id=\"sfr_09F3263D-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Amounts related to this contract that are directed to the general account option will be shown within general account balances. </span></span></div></div>","snippet":"The guaranteed interest separate account allocations are often referred to as spread products, where the insurer bears the investment risk and its profits are derived primarily from the excess of investment performance o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5cf0bebc80d39568d1a5a760df83bf7797e46fca8b47e350b29fb81d9532b0de","downloaded_from":"2026-09-10T02:18:36.210Z","last_downloaded_at":"2026-09-10T02:18:36.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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