Choppier profits seen on insurance accounting shake-up
By Dena Aubin NEW YORK (Reuters) – The biggest overhaul of insurance accounting in 30 years advanced a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to align financial statements worldwide, the U.S. Financial Accounting Standards Board (FASB) aims to shine a light on what some call the “black box” of insurers’ finances …