Description: Survey of the experiences of actuaries working internationally.

Description: China has experienced significant economic growth over the last 30 years, during which its economy has grown faster than that of any other country in history. Foreign investments have been one of the major driving forces behind the explosive growth. As multinational companies have increased their investments in China, the number of foreign workers in China has increased. In particular, with a shortage of local talent in China, particularly at the middle- to senior-management level, many multinationals have been using expatriates to fill key positions. This article summarizes the compensation and benefit packages provided to more than 300,000 foreign workers in China.

Description: This article is an introduction to the principles of taxation of U.S. owned foreign insurance operations, such as controlled foreign corporations.

Description: Since the issuance of IFRS 17 in 2017, the global insurance accounting standard, insurers across the globe have been making huge investment in assessing the impact and implementing the new standard. In late 2018, FASB issued ASU 2018-12 that revises key elements of the U.S. GAAP measurement models and disclosure requirements for long-duration contracts issued by insurers (also called FASB Targeted Improvements). Both standards are becoming effective 1/1/2021 (though IFRS 17 may potentially be deferred by a year). U.S. insurers that have international parents or subsidiaries, and report under a multi-GAAP environment will likely have to adopt both standards. By now most insurers should have nearly completed impact assessment for IFRS 17, designed road map for or have started the implementation journey. With the new U.S. GAAP requirements becoming effective concurrently, it is important to embark on the implementation journey with both standards in mind, and maximize the synergy to achieve cost-saving and design efficiency. This session will briefly introduce the two standards with a conceptual comparison, along with a discussion on where efficiency and synergy can be achieved in a concurrent implementation.

Description: Notes on the IAA meeting that took place in D.C. in May

Description: This article discusses the global capital standards for Global Systemically Important Insurers (G-SIIs) and Internationally Active Insurance Groups (IAIGs) currently being developed by the International Association of Insurance Supervisors (IAIS).

Description: Experts discuss: [1] an overview of U.S. taxation of life-insurance income from 'controlled foreign corporations' [CFCs], [2] the actuarial aspects of the taxation of CFCs, and [3] taxation issues relative to minority-owned [not 'controlled'] foreign corporations. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: Panelists discuss financial reporting issues confronting companies doing business in an multinational environment. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: Presented at October 1996 Annual Meeting. This session profiles each market in terms of size, characteristics, experiences and potential, including: capital and other entry requirements, culture and business practices, critical success factors.

Description: Presented at June 1985 Spring Meeting. This session discussion was about reporting relationship, organizational structure/changes, accounting concerns/techniques, communication, and personnel impacts.