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The Financial Accounting Standards Board last Thursday issued for public comment a controversial proposal that would change financial reporting of insurance contracts, fundamentally reconstructing the measurement of insurance liabilities and income as they are reflected in income and earnings statements.

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Proposed changes to insurance-contract accounting standards are running into delays amid vocal opposition, but whatever final conclusions ultimately emerge, they are unlikely to have a broad impact on credit ratings since new rules, by themselves, do not alter the economic position of an entity, according to Moody’s.

Proposed changes to insurance-contract accounting standards are running into delays amid vocal opposition, but whatever final conclusions ultimately emerge, they are unlikely to have a broad impact on credit ratings since new rules, by themselves, do not alter the economic position of an entity, according to Moody’s.

A group that represents North American chief financial officers of insurers and reinsurers said the International Accounting Standards Board (IASB) has proposed

The Norwalk, Conn.-based FASB recently asked for comment, due Nov. 16, which would help it decide whether to work on an insurance policy accounting project either on its own or with the International

In a letter to the Financial Accounting Standards Board, Fitch Ratings Service said that overall it is satisfied with the current principles-based accounting and does not feel bifurcation is

In a letter to the Financial Accounting Standards Board, Fitch Ratings Service said that overall it is satisfied with the current principles-based accounting and does not feel bifurcation is warranted