Fall 2018 Q10 Part C/i
Can you please elaborate on how "agents' balances previously greater than 90 days past due were collected after the
balance sheet date but before the financial statements are issued" would not affect surplus?
I know that this is a non-admitted asset when it is outstanding (as it is past 90 days), but once it is collected (presumably for cash), wouldn't admitted assets increase, making surplus increase as surplus=assets-liabilities? Can you please find the fault in my reasoning
Comments
This needs a review of NAIC.SSAP-9, the "subsequent events" topic. There is a link to a forum thread there that answers this question.
Got it- thank you
Sure, good luck.