Insurance contracts. The IASB and the FASB continued their discussions on insurance contracts by considering the following topics:

1. Alternative presentation models
2. Recognition of the composite margin in earnings
3. Whether the Boards should permit or require a practical expedient for the discount rate.

Alternative Presentation Models

The Boards discussed several presentation approaches for the performance statement for insurers. The Boards directed the staff to seek input on these approaches from the Insurance Working Group and from other users of insurance financial statements to help the Boards understand which approaches are most likely to meet the needs of users and whether those approaches would cause practical difficulties for the preparers of the financial statements.

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