Page 114 - IC46 addendum

General Insurance Accounts (IC-46)

event that occurred after initial recognition of
the reinsurance asset, that the cedant may
not receive all amounts due to it under the
terms of the contract; and
b. That event has a reliably measurable impact
on the amounts that the cedant will receive
from the reinsurer.
c. That event has a reliably measurable impact
on the amounts that the cedant will receive
from the insurer.
d. Only a & b
e. Only b & c

21. An insurer is permitted, but not required,
to use an expanded presentation that
splits the fair value of acquired insurance
contracts into which of the following
components:

a. A liability measured in accordance with the
insurer's accounting policies for insurance
contracts that it issues; and

b. An intangible asset, representing the
difference between (i) the fair value of the
contractual insurance rights acquired and
insurance obligations assumed and (ii) the
amount described in (a). The subsequent
measurement of this asset shall be consistent

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