Description: This paper argues by means of a mathematical demonstration that: 1. Natural reserves are not appropriate for adjusting earnings of mutual life insurance companies under GAAP. 2. Adjusted earnings developed by using statutory net level premium reserves together with a nonadmitted asset equal to the present value of unamortized variable acquisition expenses, and, if material, possibly with the reserves for terminal dividends, should bc accepted under GAAP, provided that dividend scales are suitably designed. 3. Other approaches which are essentially equivalent to that in bullet #2, such as those involving historical asset share funds, should likewise be acceptable.

Description: The paper sets forth a procedure, based on actual experience, for determining extra life insurance reserves for term insurance conversion rights for annual statement purposes. Followed by several submitted discussion papers.

Description: General discussion session which included the following topics: A. Non-medical limits B. Deficiency reserves for individual life insurance

Description: update on regulatory issues focusing on PBR

Description: In May of 2001 the Credit Insurance Experience Committee was asked to respond to the National Association of Insurance Commissioner’s request to the Society of Actuaries to develop a recommendation for a uniform national valuation standard for credit life insurance policy reserves. This document contains the recommendation along with supporting material.