Illustrative disclosures for insurers adopting ASU 2018-12
The 乐鱼（Leyu）体育官网 LDTI Illustrative Disclosures Guide presents one possible format for financial statements of a life insurer applying the requirements of ASU 2018-12
On August 15, 2018, the FASB issued ASU 2018-12 to improve financial reporting for insurers that issue long-duration contracts such as life insurance and annuities. The objective of ASU 2018-12 is to improve, simplify, and enhance the financial reporting of long-duration contracts, by providing financial statement users with useful information in a timely and transparent manner. Insurers will need to disclose quantitative information in聽rollforwards for the liability for future policy benefits, policyholder account balances, MRBs, separate account liabilities and DAC 鈥� as well as information about the significant inputs, judgments, assumptions and methods used in measurement.
Our LDTI Illustrative Disclosures Guide provides one format for financial statements of a life insurer applying the requirements of ASU 2018-12. A helpful resource, the guide presents example disclosures for the initial application of ASU 2018-12 for annual financial statements as of December 31, 2023.
Dive into our thinking:
Illustrative disclosures for insurers adopting ASU 2018-12
Download PDFExplore more
Insight
Insights for the future
Preparing for LDTI
Insight
Survey shows analysts鈥� expectations about financials after LDTI
As insurers prepare to adopt the new standard, 乐鱼（Leyu）体育官网 survey reveals what analysts want to learn about life insurers鈥� financials
Insight
Insurance accounting change risk and control considerations
US GAAP long-duration targeted improvements
Insight
People & organizational impacts of insurance accounting change
Getting ready for Business as Usual (BAU)
Meet our team
