applicable statutory premium recognition pattern

(I) which is in effect for the calendar year in which the premiums are received, and

(II) which is based on the statutory premium recognition pattern which applies to premiums received by the taxpayer in such calendar year.

For purposes of the preceding sentence, premiums received during any calendar year shall be treated as received in the middle of such year.

In computing the taxable income of an insurance company subject to the tax imposed by section 831, there shall be allowed as deductions: