In the exclusions to AS-26,which intangible asset is created to an insurance company from their insurance contract with policyholders?
Thanks in advance.
I think it should be a favourable contract for insurance company where it expects favourable situation.. that is more inflow in the form of premium then outflow in the form of cliam..
however I have a doubt as contract is not binding as policyholders can surrender.. so you don't have control over the same.. so it can't be your asset.. but I can't come up with other suitable example
CAclubindia
