Description: From an interactive forum session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Discussion of the major financial reporting issues and concerns of senior actuaries in life insurance companies. Discussion focused cash flow testing methods and interpretation of results.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of guaranteed minimum death benefits, guaranteed minimum income benefits, and guaranteed minimum accumulation benefits on variable deferred annuities, along with floor guarantees on variable immediate annuities. This session described the types of benefits found in the marketplace along with the associated risks. Current reserving practices, risk management techniques, and the latest American Academy of Actuaries AAA and National Association of Insurance Commissioners NAIC developments are discussed.

Description: 1998 Valuation Actuary Symposium. In this open forum questions were fielded by the panel of experts. Some of the questions: 1. How do you pick spreads for use in your reinvestment strategy? 2. What's generally being done in terms of dynamically modeling policyholder lapsation? 3. How do companies treat riders and dump-in premiums and estimated gross profits for GAAP? 4. What impact does the current interest environment have on testing you are going to do this year? 5. Are there any suitable techniques for trying to aggregate the variable products with the fixed products?

Description: This presentation is a panel discussion, session number 2PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists introduce major life and annuity statutory and GAAP valuation issues, which are covered in depth at subsequent sessions. There is also a brief update on activities of the International Accounting Standards Board [IASB]. Statutory topics include the draft National Association of Insurance Commissioners [NAIC] Actuarial Guideline MMMM for variable products with guaranteed living benefits, amendments to the Actuarial Opinion and Memorandum Regulation [AOMR], Regulation XXX mortality factors, and codification update, potential changes to the Standard Valuation Law, risk-based capital, and adoption of the 2001 CSO Mortality Table for valuation. GAAP topics include Statement of Financial Reporting Standards [SFAS] 133, 141, and 142, and two draft AICPA Statements of Position [SOP], one on nontraditional, long-duration products and another on internal replacements. Discussion from participants is included.

Description: This session is about meeting the needs for financial information in managing an insurance company. Topics include: 1. What are management's basic needs how are they met can financial systems continue to meet the challenge? 2. Are fundamental changes ahead for GAAP reporting? 3. Is it time for mutual companies to provide more meaningful financial information? 4. Can current regulatory reporting meet the needs of the 21st century? 5. Can separate statutory and GAAP systems continue to coexist? 6. Will the United States regulatory environment reduce our global competitiveness? 7. Variance analysis - Why your predictions were wrong - Which variances are acts of God? - Which variances should be blamed on somebody? - How to deal with interest rate fluctuations 8. Market valuation, why? - What questions are being addressed with market valuation

Description: Presented at October 1986 Annual Meeting. This session discussion is about the report on the FASB project on accounting for Universal Life, update on American Institute of Certified Public Accountants 'AICPA' activities, report on Canadian financial reporting issues, and update on FASB and NAIC activities.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 Panel discussion of the work being done by the Society of Actuaries and the NAIC to further development of a Unified Valuation System.

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: 1993 SOA Annual Meeting, New York. This session discussion is about reinsurance accounting for life and health insurers. It covers both statutory developments and GAAP developments. Topics included: 1. NAIC model regulation and some of the specific state issues. 2. FAS 113, reinsurance accounting under GAAP accounting principles. 3. Fronting issues. 4. Disclosure reporting. 5. The role of reinsurance as one of several financial and capital management solutions available to insurance companies. 6. Business applications that flow out of the current accounting developments

Description: Presented at April 1985 Spring Meeting. This session discussed different accounting alternatives for products such as Universal Life, deferred annuities, variable products.