#1
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Subsidiary OTTI
Can a previously written off subsidiary (100% common stock owned by parent)
become an admitted asset again if it returns to a positive Equity balance? |
#2
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James,
Please refer to SSAP 97, Investments in Subsidiary, Controlled and Affiliated Entities. Paragraph 33 addresses the impairment issue for a SCA entity. Within the paragraph it indicates once an impairment is taken, the new cost basis should not be changed for subsequent recoveries in fair value. Thanks Lisa Mullen |
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