Description: This article is dedicated to the non-statutory accounting treatment of common credit risk exposures of life insurers but does not cover all aspects of non-statutory accounting standards. It introduces the concept of and the valuation of credit risks, concerning life insurers.

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: Description of the discussion of the International Actuarial Association who met in Nassau, the Bahamas. Discussions included: IFRS and corresponding issues, Solvency II, ComFrame, and upcoming publications.

Description: Discusses the top concerns of U.S. insurers regarding the recent IASB Exposure Draft entitled Insurance Contracts and the FASB Exposure Draft entitled Preliminary Views on Insurance Contracts.

Description: The Financial Accounting Standards Board FASB, which promulgates accounting standards under US GAAP, and the International Accounting Standards Board IASB, which promulgates accounting standards for many countries outside the United States, have been working for several years on a joint project on accounting for insurance contracts. The boards agree on many aspects of the proposed accounting model. However, as of December 2011, there are a number of key areas where they do not. This article summarizes the boards’ views on the key areas where they disagree.

Description: December 2015 issue of The Financial Reporter

Description: One major feature of the OECD's two-pillar regime is that MNEs would base the calculation of taxes due on book-based financial statements. The article provides a summary of how these rules operate along with suggested actions insurers can take today to prepare for timely compliance.

Description: The paper explores developments through 2006 in the application of market-consistent concepts to the measurement of fair values of liabilities for financial reporting purposes.

Description: Standards for accounting for pension and post-retirement plans around the world are changing. The ultimate goal is a global standard to replace International Accounting Standard 19 IAS 19. The changes in the United States to reflect the global standard fall under their Statements of Financial Accounting Standards SFAS.

Description: Discussion that reinsurance regulation is driving the amount and hence the cost of capital and hence the ability of reinsurers to price products competitively