With the FASB and the IASB set to release an exposure draft and a targeted discussion document respectively, there is renewed interest within the industry related to insurance contracts accounting. Companies are working to study the impacts of the proposed new framework on the various products, their financial statements taken as a whole, as well as on systems and processes. This session will cover an update on current positions of the FASB and IASB as well as case studies illustrating some of the impacts being experienced by companies when they apply this framework. At the conclusion of the session, attendees will be able to describe the current positions of the FASB and the IASB with respect to insurance contracts accounting and the potential impacts of those positions.

Slides from a presentation at the ALM Seminar in Singapore held on September 6–7, 2007 Review of progress on implementation of solvency measurements and requirements for European insurance companies

2011 SOA Insurance IFRS Seminar, Hong Kong. This workshop session teaches how to calculate liability values using a case study which modeled cash flows of a term policy under several modeling approaches.

The speakers will discuss what has been approved, what is still being proposed, and any potential changes or proposals on the horizon. This session will also focus on the impact these changes will have on the insurance industry. At the conclusion of the session, attendees will be able to describe the life insurance industry regulatory developments shaping the insurance industry.

Panelists will discuss the provisions of the standard for insurance accounting, FASB versus IASB developments, the practical implications of IFRS on insurance products commonly offered in terms of implementation, and expected resolution of key issues. Participants in this session will obtain an understanding of the provisions of the standard on insurance accounting and its potential implications to insurance companies and the products they offer.

This scorecard informs section members about research projects in progress and recently completed that are sponsored or co-sponsored by the section.

Summarizes the discussions over the past quarter between the IASB and the FASB regarding finalizing IFRS

Description of the discussion of the International Actuarial Association who met in Nassau, the Bahamas. Discussions included: IFRS and corresponding issues, Solvency II, ComFrame, and upcoming publications.

Considerations when developing internal models for use in Solvency II.

Information regarding the Economic Scenario Generator to be used when calculating Principle-based reserves and implementing VM20.