Eitf 93-6
Rule adopted by the financial accounting standards board that requires that obligations owed to re-insurers under multiyear insurance contracts must be reported as liabilities by the ceding companies and as assets by the re-insurers. Conversely, if the ceding companies make a profit under the contract, it must report the profit as an asset and the re-insurers must report the profit as a liability.
Popular Insurance Terms
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Gross yield minus total costs (expenses). ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
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