Description: The International Accounting Standards Board issued a Discussion Paper, Preliminary Views on Insurance Contracts, discussing the many issues surrounding accounting for insurance contracts and presenting current views in a number of areas. The SOA published a research report on the impact of these Preliminary Views - which is summarized chapter-by-chapter in this article.

Description: The selection of the economic capital calculation approach becomes more of a modeling decision. Now let us pause here and think about the arbitrage-free assumption at the beginning. At any time, there can be only one price on any asset. If the company considers the price calculated above as the fair price for its products, then it must hold true that the same price has to be arrived at if the company uses a real-world pricing approach instead of a risk-neutral approach. This gives us a very good basis to calibrate the appro- priate economic capital.

Description: Quarterly Report on IFRS Developments.

Description: Report of quarterly IASB Discussions

Description: Feature article discussing the latest changes to International Financial Reporting Standards (IFRS) by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

Description: Following the referendum in the UK on June 23 the UK is likely to leave the EU in the near future. While the terms of this separation will not be known for many months, this article aims to explore the possible implications that US insurers may face.

Description: The use of Other Comprehensive Income OCI is receiving its moment in the sun. It is being considered for housing some of the earnings volatility in the International Accounting Standards Board IASB current approach to measuring insurance contracts’ performance.

Description: This article compares and contrasts existing and near future differences in fair value requirements between US GAAP and IFRS. The focus of this article is on fair value requirements as they relate to actuarial valuations of insurance contracts - including certain contracts classified as investment contracts, and therefore ignores implications on investments held by insurance companies.

Description: This article will focus on introducing where IFRS17 differs from US GAAP conceptually, and key aspects of this paradigm shift from actuaries’ perspective.

Description: Discusses several possible developments on the financial front, each of which could have important implications for a company’s business plan.