Description: A summary of the October 31 meeting of the Board of Governors, where topics included education and examination requirements, SOA organization, pension terminology, publications, didivend philosophy, subcommittee operations, financial statement certifications, the Executive Director position, and consolidation of North American actuarial organizations.

Description: This article discusses the FASB Exposure Draft, “Accounting and Reporting by Insurance Enterprises for Certain Long-Duration Insurance Contracts and for Realized Gains and Losses from the Sale of Investments.”

Description: A British actuaries perspective on what could happen should two reserve/accounting basis exist that could lead to reducing the strength of statutory accounting and perhaps the financial strength of North American insurance companies. Some might find similarities to what might happen during the transition to principles based statutory accounting.

Description: This article looks at the recent trend of mergers and acquisitions between very large organizations. The driving forces, issues involved and keys to success are discussed. The role of the actuary in this process is also reviewed.

Description: “It is an irony of existing regulation that, if the life insurance industry in the United States were required to file financial statements according to the statutory rules of the United Kingdom, most companies would be insolvent and if the life insurance industry of the United Kingdom were required to file financial statements on the basis of statutory requirements in the United States, most companies also would be insolvent.”

Description: Summarizes presentation on two accounting problems: implementation of Opinion 8 and not having an audit guide applicable to the preparation of annual reports to stockholders of life companies.

Description: This article discusses international proposals for accounting reform that would establish a global common measurement approach for the large majority of life insurance and annuity products.

Description: Discusses and critiques a report entitled Adjusting Life Insurance Company Earnings by John La Maochia, Jr. The report describes and critiques the various methods stock analysts use to adjust statutory earnings to evaluate company earnings.

Description: This article reviews the Society’s upcoming special topic meeting on Life Company Financial Reporting and the sessions that will be included.

Description: This article discusses the potential issues with a company's surplus due to currency fluctuations.