Description: A methodology for calculating risk margins related to policyholder behavior risks for guaranteed living benefits on variable annuities when measuring fair value under FAS 157.

Description: Cautions against putting too much faith in financial models - such as the IASB's proposal to accrue future expected profits on the day a policy is issued.

Description: Recently, in preparation for a meeting of all section chairpersons, I was asked to compile a list of the most important issues facing financial reporting actuaries over the next several years. This question caused me to think about where we have been and where we are today—in order that I might form some type of backdrop for analyzing the future needs of our section members.

Description: A description and status update on all recent research reports sponsored by the Financial Reporting Section.

Description: Earlier this year, the Securities and Exchange Commission informed one of its registrants that prospective unlocking of benefit reserves for long-term care LTC insurance was not an acceptable practice under current US GAAP. The purpose of this article is to make actuaries aware of this action and provide some additional context.

Description: A discussion of the Morris Review in the UK: a government-requested review of the actuarial profession in the U.K.

Description: As companies implement PBR, this article outlines challenges regarding the treatment of accelerated underwriting under VM-20 and in light of future innovation.

Description: This article highlights the key implications and insights as a result of the change to the determination of reserves under GAAP accounting guidance for insurers with long-duration liabilities due to Accounting Standards Update (ASU) 2018-12 (“LDTI”) for IDI and LTC products.

Description: Feature article discussing the happenings at the recent International Actuarial Association (IAA) meeting.

Description: This article discusses key considerations and differences in measurement requirements between IFRS 17 and LDTI, leveraging a term insurance example to illustrate potential impacts on liabilities and, ultimately, earnings emergence.