The insurance industry faces new challenges from new GAAP accounting rule ASU 2018-12 for long-duration contracts. Industry earnings will become more volatile based on changing estimates of future mortality rates and other economic factors. Equity levels may take a hit at transition as well. As the new rule is more than just an accounting change, insurance companies will have to implement changes across functions, including actuarial, finance, financial planning and analysis, investor relations and IT.
Related topics
04 Episodes
Webcast replays
GAAP long-duration targeted improvements: five key updates for insurers
CPE credits: 1.0
Presenters
Strategic considerations for FASB updates to long-duration insurance contracts
Presenters
Implementation considerations for FASB updates to long-duration insurance contracts
Presenters
EY Americas Insurance Financial Performance & Risk Leader
FASB’s targeted improvements to long-duration insurance contracts
Presenters
EY Americas Insurance Financial Performance & Risk Leader