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  2. The accounting guidance for reinsurance transactions is codified in Accounting Standards Codification 944, Financial Services —Insurance (ASC 944). This publication will help you understand the overall accounting and financial reporting requirements and how they apply to certain types of reinsurance transactions.
    assets.ey.com/content/dam/ey-sites/ey-com/en_us/…
    When significant insurance risk is transferred, reinsurance accounting is required. In contrast, contracts that do not transfer significant insurance risk that exists in direct contracts are accounted for as deposits (i.e., financing arrangements).
    viewpoint.pwc.com/dt/us/en/pwc/accounting_guide…
    ASC 944 requires that the substance (and not the form) of the contract drive the accounting treatment. When significant insurance risk is transferred, reinsurance accounting is required. In contrast, contracts that do not transfer significant insurance risk are accounted for as deposits (i.e., financing arrangements).
    viewpoint.pwc.com/dt/us/en/pwc/accounting_guide…
    IFRS 17 Insurance Contracts sets out the accounting requirements for insurance contracts, including reinsurance contracts held. Under IFRS 17, a reinsurance contract held is accounted for as a standalone contract, independent of the accounting for the underlying insurance contracts. For many entities, IFRS 17 represents a significant change.
    www.ifrs.org/content/dam/ifrs/supporting-implemen…
     
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    WEBFeb 28, 2024 · Reinsurance is a contract between a reinsurer and an insurer that transfers some of the insured risk to the reinsurer. Learn about the benefits, types, and examples of reinsurance for insurance companies.

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