US GAAP Long Duration Targeted Improvements: Early Discoveries & Lessons Learned

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Jan 23, 2019

We provide a detailed summary of our recent webcast discussing the expected and unexpected complexities of ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts standard.

Overview

On August 15, 2018, the FASB issued Accounting Standards Update 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts ("LDTI"). Since then, many companies and industry stakeholders have been analyzing the standard and conducting impact assessments to prepare for this significant change. 

Since July 2018, PwC has advised most of the early movers on their approach to implementation and has developed relationships with several technology vendors on developing LDTI solutions and tools. We have learned much about the expected and unexpected complexities of this standard, and in our December 10, 2018 webcast, we discussed the early discoveries and lessons learned to date. Matt Adams, PwC’s US Insurance Practice Leader, hosted the webcast, which focused on five key areas:

  • strategic implications,
  • technical accounting issues,
  • technology implications,
  • data challenges, and
  • execution lessons learned so far.

Download our detailed summary of webcast topics and technical content.

To have a deeper discussion, contact:

Matt Adams

US Insurance Practice Leader, PwC US

Email

Richard de Haan

Global Actuarial Leader, PwC US

Email

Josh Schwartz

Principal, Data and Technology, PwC US

Email

Tom Barbieri

Deputy Chief Accountant, National Professional Services Group, PwC US

Email

David Honour

Actuarial Principal, PwC US

Email

Jim Quick

Principal, Strategy and Operations, PwC US

Email

Contact us

Matt Adams

Matt Adams

US Insurance Practice Leader, PwC US

John Fosbenner

John Fosbenner

Insurance Assurance Leader, PwC US

Richard de Haan

Richard de Haan

Global Actuarial Leader, PwC US

Ellen  Walsh

Ellen Walsh

Insurance Advisory Leader, PwC US

Julie Goosman

Julie Goosman

Insurance Tax Leader, PwC US

Mary Saslow

Mary Saslow

Managing Director, National Professional Service Group, PwC US

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