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As noted in IG 12.6, in accordance with ASC 944-805-25-5, indemnification agreements relating to the adequacy of acquired claim liabilities, which may be in the form of reinsurance contracts, are accounted for on the acquisition date consistent with other indemnification assets in accordance with ASC 805-20-25-27 and ASC 805-20-25-28, as opposed to using retroactive reinsurance accounting.

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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