Issue

Insurance accounting change

ASU 2018-12 Long Duration Targeted Improvements (LDTI)

Laura Gray

Laura Gray

Principal, KPMG’s Insurance Accounting Change Co-Lead, KPMG US

+1 404-222-3388

Michael Lammons

Michael Lammons

Partner, KPMG’s Insurance Accounting Change Co-Lead, KPMG US

+1 404-222-3390

There are a number of challenges and opportunities with implementing ASU 2018-12.  The bottom line is that project management and program structure is vital to success in driving decision making, improving efficiency and collaboration, ensuring accountability, and developing capabilities to accurately report and explain results.  Our Conversion Methodology is a common, scalable, and consistent approach in use for over a decade. It is based on the philosophy that significant change to insurance entity accounting and reporting is broader than just an accounting exercise.