In the exclusions to AS-26,which intangible asset is created to an insurance company from their insurance contract with policyholders?
Thanks in advance.
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AS -26
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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
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
That'd be a contingent asset for the insurance company ,wouldn't it?
No it will become a financial asset if a contract is favourable to you... but I am not sure..
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