Description: This paper presents a policy-year model for GAAP valuation of reinsurance accepted on the coinsurance and modified coinsurance bases. Also presented are the interrelationships between the model's methodology and statutory accounting procedures, a discussion of experience-refunding situations, and a demonstration of the model's ability to yield GAAP profits as a level percentage of premium. From Transactions of Society of Actuaries 1981, Vol. 33.

Description: Presented at 1995 Valuation Actuary Symposium. Discusses the evolving nature of the work of the valuation actuary, including asset liability management, cash flow testing and the responsibilities of the valuation actuary in management decisions.

Description: This session at the 1998 Valuation Actuary Symposium presents a framework for managing surplus based on the knowledge bases of the CFA designation and the SOA curriculum for the finance and investment specialty.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Addresses a variety of financial reporting issues of interest to the attendees at a meeting of Valuation Actuaries.

Description: Presented at September 1995 Valuation Actuary Symposium. This session talks about the tools and methods for asset modeling, particularly mortgages and asset-backed securities.

Description: 1997 Valuation Actuary Symposium, Session 17 discusses market value measures and its uses in asset liability management.

Description: Presented at June 1996 Spring Meeting. Provides overview of modern pricing of assets such as derivatives. It includes theory and practical applications, particularly how they relate to insurance companies.

Description: 1996 Valuation Actuary Symposium. The purpose of this session is to enhance understanding of what it means to have an adequate reserve based on cash-flow testing by taking the audience into the world of interest rate models and interest rate model generators.

Description: 1996 Valuation Actuary Symposium. Questions asked and answered included: 1. What do regulators expect or want as far as asset adequacy analysis for shorter-term liabilities such as IBNR? 2. What responsibility does the appointed actuary have in verifying reserves for reinsured business? 3. If the assets for the market value adjusted annuity are held in a separate account and valued at market, what rates should be used to present value the projected guaranteed benefits? 4. May a company perform the cash-flow testing based on the low level of reserves held in the domiciliary state rather than the higher reserve actually held in the state with the special state in filing? 5. Have there been any situations where an opining valuation actuary has been held personally responsible?

Description: An outline of a teaching session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000, discussing the evolution toward fair value accounting methodologies