Regulatory Alerts2011-03-22 | CBFA_2011_14Added · Updated
Accounting treatment of transactions with the Special Protection Fund for Deposits and Life Insurance
The document specifies the accounting treatment for transactions involving the Special Protection Fund for Deposits and Life Insurance. Contributions paid by life insurance companies are recorded in account 626.1 "Other gross expenses" within the life technical accounts, while repayments are recorded in account 724.1 "Other gross revenues". Any claims or debts regarding the Fund must be recorded in account 413.3 "Other (claims)" or account 425.27 "Other (debts)". This guidance applies to insurance companies authorized to underwrite life insurance policies with guaranteed returns under branch 21.
More like this from NBB
We email you every new NBB publication the day it's published.
Topics
Share