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Proposed Statement Of Position : Accounting By Insurance Enterprises For Demutualizations And Formations Of Mutual Insurance Holding Companies And For Certain Long-Duration Participating Contracts;Accounting By Insurance Enterprises For Demutualizations And Formations Of Mutual Insurance Holding Companies And For Certain Long-Duration Participating Contracts; Exposure Draft (American Institute Of Certified Public Accountants), 2000, Apr. 3, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee, American Institute Of Certified Public Accountants. Demutualization Task Force

Exposure Drafts, Comment Letters, and Statements of Position

This proposed Statement of Position (SOP) provides guidance on accounting by insurance enterprises for demutualizations and the formation of mutual insurance holding companies (MIHC). The proposed SOP also applies to stock insurance enterprises that apply SOP 95-1, Accounting for Certain Insurance Activities of Mutual Life Insurance Enterprises, to account for participating policies that meet the criteria of paragraph 5 of SOP 95-1. The proposed SOP specifies the following: 1. Financial statement presentation of the closed block. Closed block assets, liabilities, revenues, and expenses should be displayed together with all other assets, liabilities, revenues, and expenses of the insurance enterprise based …