SFG » Topics » SOP 05-1- Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance Contracts

This 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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