Description: This paper argues by means of a mathematical demonstration that: 1. Natural reserves are not appropriate for adjusting earnings of mutual life insurance companies under GAAP. 2. Adjusted earnings developed by using statutory net level premium reserves together with a nonadmitted asset equal to the present value of unamortized variable acquisition expenses, and, if material, possibly with the reserves for terminal dividends, should bc accepted under GAAP, provided that dividend scales are suitably designed. 3. Other approaches which are essentially equivalent to that in bullet #2, such as those involving historical asset share funds, should likewise be acceptable.

Description: This paper presents the probabilistic concepts underlying measurement of asset adequacy in a simplified way. Discussions of this paper are included.

Description: This discussion at the SOA 1966 Annual Meeting is about various aspects of group life and health insurance including disclosure forms, interest rates, group life maximums, disability insurance, and Medicare.

Description: This paper presents an analysis of the basic actuarial theory for life insurance policies which have fixed premiums, the entire reserve held in a separate account, the assets of which would be invested primarily in common stocks, etc. From Transactions of Society of Actuaries 1969, Vol. 21 Pt. 1, No. 61

Description: This paper expands on the traditional three-factor interest, mortality, and expenses dividend contribution formula to propose a new dividend structure. The structure and formula are derived from the most generalized equation of equilibrium, and each dividend class is treated as an ongoing microcosm. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: This discussion looks at Group Accident and Sickness Insurance and asks the following questions: What loss ratios are expected during 1960 and 1961 under newly determined premium rates for basic medical care, supplementary major medical and comprehensive major medical insurance coverages? What are the design trends under comprehensive major medical insurance coverages? From Transactions of Society of Actuaries 1960, Vol. 12, No. 34.

Description: This panel discussion presented at the April 1976 SOA meeting in Washington D.C. presents opinions and information related to investment policy in a changing economy.

Description: The following topics were discussed at concurrent sessions: 1. Pension benefit security bill, 2. Variable insurance products, 3. Trends in hospital and medical care utilization, 4. Insurance distribution and marketing systems, 5. Deferred and incentive compensation, 6. Annual Statement accounting, 7. Social Security and employee benefits in western Europe, 8. Individual medical expense insurance, 9. Reserves and related problems for variable annuities and cost-of-living benefits, 10. Topics for consulting actuaries, 11. Profit and other objectives in group operations, and 12. Life insurance operations overseas- problems and opportunities. From Transactions of Society of Actuaries, 1969 Vol. 21 Pt. 1 No. 61.

Description: This is a discussion about group life insurance. From Transactions of Society of Actuaries 1962, Vol. 14 Pt. 2

Description: This 1978 session on Social Security Funding included discussion on 1. Major Amendments, 2. Financing condition of Social Security after amendments, 3. Benefit levels, and 4. Possible future legislation.