Financial Reporting for Insurance Contracts Under Possible Future International Accounting Standards–2011 Extension

Research Projects – Life Insurance


In late 2010, the Society of Actuaries (SOA) released a report summarizing the results of its study on the financial reporting effect of the International Accounting Standards Board (IASB) exposure draft and the U.S. Financial Accounting Standards Board (FASB) discussion paper to revise the reporting of liabilities for insurance contracts under a future international framework. Since the publication of the November 2010 report, the SOA extended the project scope to include additional research on the treatment of discounting, expenses and subsequent measurement of margins which was performed by Sam Gutterman and Randy Tillis of PricewaterhouseCoopers. The Society of Actuaries Financial Reporting Section sponsored the study and is pleased to make available a report summarizing the findings.

Research results from the SOA's analysis of IASB's Preliminary Views on this topic is also available.


Financial Reporting for Insurance Contracts under Possible Future International Accounting Standards

Thank You

The Financial Reporting Section Council would like to thank the companies that provided modeling assistance and those individuals who served on the Project Oversight Group:

  • Thomas Herget–Chair
  • Rowen Bell
  • William Briggs
  • Rod Bubke
  • Susan Deakins
  • John Dieck
  • Steven Easson
  • Robert Frasca
  • Tara Hansen
  • William Hines
  • Burton Jay
  • Steven Malerich
  • Craig Reynolds
  • Stephen Strommen
  • Ronora Stryker–SOA Research Actuary
  • Jan Schuh–SOA Research Administrator

Questions Or Comments?

If you have comments or questions, please send an email to