08.16.18
New Rules Look to Make Insurance Contracts More Transparent
by: Michael Rapoport
Wall Street Journal (08/15/18)
New changes to insurance accounting will give investors more up-to-date numbers about the financial health of U.S. life insurers, rule makers say. The changes will affect the way companies value their long-term insurance contracts like life insurance, long-term care policies, and annuities. James Kroeker, vice chairman of the Financial Accounting Standards Board, the panel that sets accounting rules for U.S. companies, said the changes will make sure investors get the most current information on the insurance contracts’ value.
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