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SFG » Topics » SOP 05-1- Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance ContractsThis excerpt taken from the SFG 8-K filed Apr 25, 2007. SOP 05-1- Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance Contracts The adoption of SOP 05-1 resulted in a cumulative effect adjustment of $39.4 million, after-tax, which was recorded as a reduction to retained earnings on January 1, 2007. |
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