Description: Discusses some of the financial implications of the recently issued IASB Discussion Paper on Insurance Contracts which presents the preliminary view that GAAP insurance liabilities should be valued at current exit value.

Description: Feature article discussing the isolated impact of changing the discount rate due to FASB changes.

Description: The NAIC is working with state insurance departments to replace the existing rules-based valuation laws with principle-based valuation laws. On the GAAP front, both the International Accounting Standards Board, which sets GAAP accounting guidance for many countries outside the United States, and the Financial Accounting Standards Board, which promulgates GAAP guidance in the United States, are moving toward a “current estimate” standard of valuation, which often results in a fair value or similar measurement basis. This article reviews the IASB’s discussion paper on insurance valuation and the American Academy of Actuaries’ response to it.

Description: Feature article discussing the IASB’s and FASB’s introduction of the use of other comprehensive income (OCI) to report certain changes in the value of insurance contracts.

Description: Discussion of potential volatility to non-participating long-duration traditional contract reserves under US GAAP targeted improvements to accounting for long-duration insurance contracts. Discusses the impact of revising assumptions as well as interaction of revising assumptions with changes to discount rates.

Description: Calculating the risk adjustment confidence level disclosure required by IFRS 17 if the risk adjustment itself is calculated using a cost of capital approach

Description: Feature article discussing the possibility of written options being an asset.

Description: Certain fair value measurements involving actuarial work may not have been required to conform to FAS 157 until late 2008 or early 2009. The purpose of this article is to discuss those items and propose possible methods for actuaries to consider when performing the necessary valuations, from an actuarial standpoint only.

Description: Update of FASB's tentative decisions on revising the accounting for long-duration insurance contracts, now that decisions on measurement are substantively complete.

Description: Discussion of FASB's June 2018 meeting on accounting for targeted improvements for long-duration insurance contracts and summary of the decisions to date