What Is an Insurance Income Statement?

The profit distribution statement of an insurance company is one of the schedules to the main accounting statements of the insurance company. It is a statement that reflects the profit distribution of insurance companies and the balance of undistributed profits at the end of the year. It is a supplement to the income statement of insurance companies. Its main contents include: "Total profit" item, which reflects the profit realized by the enterprise throughout the year. If it is a loss, it is indicated by a number, and this item should be connected with relevant data of the income statement. The "income tax payable" item reflects the income tax payable by the company's profit for the year. ^[1]