Nowadays the insurance industry, especially the loss insurance, is growing in harmony with the development of the business world and the improvement of the economic capability of the community. Insurance is considered important as one way to minimize the risk of loss that may occur. PT. Bosowa Ternate Insurance Branch as one of the general insurance companies that already have various insurance products, where one of them is surety bond insurance product. As an insurance company, the main income is derived from insurance premiums while the main expense is claims expense. This study aims to analyze the application of premium income and claims expense based on PSAK No.28 at PT. Bosowa Insurance Branch Ternate. The method used in this research is quantitative descriptive. The results of this study indicate that insurance transactions become relatively complicated because the income comes from premiums that are known and occur first, while the main load is the burden of claims has not occurred and covered by uncertainty both time and number. Revenue and claims claims recognition base accrual basis. Revenue is recognized at the time of the transaction even if cash has not been received. In this case income is recorded and recognized at the time of policy issurance. Claims expenses are recognized upon an obligation to fulfill the claim.