Ministry of Finance, Accounting Treatment of Such Business of Insurance Companies as Investment-linked Products Provisions

财政部保险公司投资连结产品等业务会计处理规定

March 31, 2002 | BY

clpstaff &clp articles &

Principles governing the separate account arrangement, valuation date and measurement of income revenue and expenses of investment-linked products.

Clp Reference: 3100/02.01.07 Promulgated: 2002-01-07

Promulgated: January 7 2002

Main contents: The Provisions standardize the accounting of investment-linked products, investment-type property insurance, dividend insurance and universal life insurance provided by insurance companies. The focus is on investment-linked products. Insurance companies are required to set up separate accounts for the investment portfolios of investment-linked products (Section 1.1.3). Valuation of the investment portfolios shall be conducted on the valuation date agreed in the insurance contracts according to the principles set out in the Provisions (Section 1.1.4). The Provisions also set out the principles on which the income revenue from and expenses of the investments shall be recognized and measured (Section 1.1.5 and Section 1.1.6). In addition, the Provisions list the accounts that should be added for the accounting of investment-linked products and the items that should be added in the financial statements of investment-linked products (Section 1.2 and Section 1.4).

clp reference:3100/02.01.07promulgated:2002-01-07

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