March 30, 2017
Competency (Learn more)
Presenter & Moderator
The Financial Reporting Section and PolySystems
Noon-1:30 p.m. ET
This webcast takes place via the Internet.
Registration is now closed. The SOA
Customer Service Center
is available to assist you Monday through Friday, 8:00 a.m. to 5:00 p.m. CDT. Please call +1-888-697-3900.
Who Should Participate
Members of the following sections: Financial Reporting, Modeling, Product Development, and Smaller Insurance Company, as well as all actuaries interested in or involved with U.S. GAAP for universal life type insurance products.
The Financial Reporting Section is sponsoring a five-part series on U.S. GAAP reporting consisting of the following webcasts:
- GAAP Basics - Traditional Life (Dec. 16, 2016 -
- GAAP Basics - Deferred Annuities (March 29, 2017)
- GAAP Basics - Universal Life (March 30, 2017)
- GAAP - Targeted Improvements (to be scheduled)
- GAAP - Assumption Management (to be scheduled)
The SOA and the Financial Reporting Section have partnered with PolySystems for the first three webcasts, which have been developed to highlight key GAAP content from the more in-depth full-day reserves seminars jointly sponsored by the SOA and PolySystems each June.
Experts at the third webcast in the series will review basic GAAP principles for universal life-type insurance products, a significant contributor to life insurance industry earnings. Illustrative GAAP valuation examples that build upon one another will be presented to highlight the application of the principles to universal life-type policies.
Topics covered include FAS 97, estimated gross profits, deferred acquisition costs, recoverability testing, GAAP financial statement presentation, GAAP for indexed universal life, and SOP 03-1.
Whether you are new to GAAP or looking for a refresher, this webcast will quickly bring you up to speed with the basic principles governing GAAP for universal life insurance.
How the live webcast works and what it includes
You do not need any special equipment. On March 29, 2017, before 2:00 p.m. ET you will be sent detailed webcast instructions via email including the Web address for accessing the presentation. Any handouts that are available will also be sent. You will follow along with both the slide presentation and the audio portion of the broadcast over the Internet.
The registration fee includes:
- One access code to the live webcast;
- One Internet connection;
- One phone connection (to be used only if experiencing sound issues or if in a conference room with a group)
- One set of presentation materials; and
- Access to the subsequent webcast recording.
Please note that each access code may only be used for
one location , even if you register for more than one participant.
Post-Webcast Purchase Opportunity
For those who are interested in SOA webcasts but are unable to participate in the live event, access to an archived recording of the webcast will be available for purchase approximately 10 business days following the event by using the following