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Earnings Emergence: Insurance Accounting under Multiple Financial Reporting Bases

The Financial Reporting Section, Reinsurance Section and Committee on Life Insurance Research announce the release of a report that provides illustrative examples of how various accounting regimes apply to a range of insurance contracts.  This research was performed by an Ernst & Young LLP team.  The study investigates the differences that occur when measurement is made under different bases.  The observations come from research performed on two products (term life insurance and deferred annuities) under five reporting bases:  

  1. US Statutory requirements 
  2. US Generally Accepted Accounting Principles
  3. The Canadian Asset Liability Method
  4. International Financial Reporting Standards
  5. Market-consistent balance sheet


Earnings Emergence: Insurance Accounting under Multiple Financial Reporting Bases

Thank You

The Sponsors would like to thank the companies that participated in the study and the following individuals that served on the Project Oversight Group:

Sam Keller, Chair

Yongyi Bi

Pete Bondy

Katie Cantor

Tom Herget

Shirley Lowe

Ronora Stryker, SOA Research Actuary

Jan Schuh, SOA Sr. Research Administrator


If you have questions or comments on this research, please contact Ronora Stryker, SOA Research Actuary, at