Description: This article examines the impact of FAS 97 on the emergence of earnings for the most recent versions of UL products, those with interest rate and return of load kickers.

Description: This article discusses the impact on the financial statements of changing from Statutory Accounting to GAAP Accounting and the under-reporting of long-term earning power by insurance companies because of the AICPA technique of handling the transition.

Description: Life insurance companies find themselves in a significantly more complicated environment than that of just a few years ago. Managements face an uncertain investment environment, the real possibility of deteriorating future mortality due to the spread of AIDS, and alternative and competing distribution systems.

Description: This article discusses the discount rate that should be used under GASB 45. Public employers now find themselves in a similar situation to private sector employers in the early 1990's in that GASB 45 requires them to measure liabilities including post-retirement medical liabilities using accrual accounting.

Description: Article discusses strategies to reduce book value fluctuations due to adoption of FAS 115 and their drawbacks.

Description: This article is a brief review of the Society of Actuaries 1981 monograph ‘Adverse Deviation,’ by John C. Wooddy et. al. The author of this review notes that the monograph describes the approach - devised by the Committee on Theory of Risk - to ‘the problem of providing appropriately for the risks of adverse deviation in a GAAP valuation under the specifications of the ‘Audit Guide for Stock Life Insurance Companies.’

Description: A regulator's perspective on the changing insurance and financial services industry, including changes in the state regulatory environment driven by the regulators themselves, as well as potential changes in the competitive environment prompted by the Financial Services Modernization Act.

Description: A discussion of some criticisms of the feasibility of companies converting to GAAP, in addition to pros and cons of the GAAP system.

Description: This article discusses the FASB Exposure Draft, “Accounting and Reporting by Insurance Enterprises for Certain Long-Duration Insurance Contracts and for Realized Gains and Losses from the Sale of Investments.”

Description: This article discusses how statutory financials would differ from a reasonable GAAP for a mutual company's structure, if the latter were ever imposed.