Description: This article discusses important implications of the upcoming Long-Duration Targeted Improvements (LDTI) accounting change for the modeling actuary. We discuss the modeling implications of new GAAP standards for Market Risk Benefit (MRB), including identification of MRBs, implementation of fair valuation in actuarial systems and retroactive determination of at-issue valuation inputs for transition. We also examine the modeling implications of the other aspects of the accounting change, including Liability for Future Policy Benefit (LFPB), Deferred Acquisition Cost (DAC), and other transition and disclosure requirements

Description: Demutualization: Filling the “GAAP” in Accounting by Darryl G. Wagner and Patricia E. Matson from The Financial Reporter, February 2000, Issue No. 41.

Description: Read the September 2017 issue of The Financial Reporter published by the Financial Reporting Section.

Description: Article from The Actuary, June 1971 – volume 5 - Issue 6 answers the question- What are adjusted earnings?

Description: The article discusses practical PGAAP issues under China GAAP, e.g. product classification, unbundling, acquisition expense allocation, VOBA grouping.

Description: This Special Release of the Financial Planning and Control Division of the LOMA is a well-organized summary of the responses of 96 U.S. stock life insurance companies that adjust statutory statements to a GAAP basis. Results are presented in Section A for all 96 companies, in Section B for 36 companies with less than $25 million of premium income, and in Section C for the remaining 60 companies. From The Actuary, October 1974, Vol. 8, No. 8.

Description: Review of FASB's proposed "Targeted Improvements" to long duration insurance accounting and how they will impact valuation processes for Long Term Care.

Description: Actuaries are accustomed to considering how much conservatism is appropriate in their estimates, whether made for pricing or for mea- surement of liabilities. In the proposals for a new standard on accounting for insurance contracts, this conservatism is referred to by the International Accounting Standards Board IASB and the Financial Accounting Standard Board FASB of the United States as the risk adjustment.

Description: In September 2005, the AICPA issued SOP 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts. The SOP provides accounting guidance for DAC on internal replacements of insurance and investment contracts other than those specifically mentioned in FAS 97. Article discusses implementation issues.

Description: Feature article discussing deferred policy acquisition costs and recent proposed changes to the expenses allowed to be deferred.