Don't 'bifurcate' - co-operate
It's not often that changes in accounting have the potential to change the (re)insurance industry fundamentally, but a current proposal by the US Financial Accounting Standards Board (FASB) does. David Spiller of Guy Carpenter spells it out
'Bifurcation' refers to the concept of splitting an insurance or reinsurance contract into two parts: an insurance component and a financial component. The insurance component would then be accounted
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