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Calculating Liquidity Premiums for Insurance Contracts
(as in a universal life contract or deferred annuity) or implicit in the premium or dividend (as in ... SPDA’s relative illiquid- ity. A life payout annuity is even less liquid than an SPDA, since there ...- Authors: Leonard Reback
- Date: Sep 2010
- Competency: External Forces & Industry Knowledge
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting
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Volatility From FASB Changes to Traditional Liabilities (Part 3)
Bt+u = The assumed benefit payment (including any expenses impacting the reserve) at time t+u, as ... measured at time t GPt+u= The assumed gross premium to be received at time t+u, as measured at time ...- Authors: Leonard Reback
- Date: Sep 2019
- Competency: External Forces & Industry Knowledge
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting
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FASB Deliberations on Accounting for Assumption and Discount Rate Changes
issues created by the options currently on the table and will consider alternatives (perhaps by the ... splitting these effects (for example, a change in mortality assumption may im- pact the liability duration) ...- Authors: Leonard Reback
- Date: Sep 2015
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: The Financial Reporter
- Topics: Economics>Financial economics; Financial Reporting & Accounting>Financial Accounting Standards Board [FASB]
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Volatility From FASB Changes to Traditional Liabilities (Part 2)
accounting for long-du-ration insurance contracts under U.S. GAAP that will generally become effective in 2021 ... volatility in the reserves than occurs under current U.S. GAAP. The first article in this series (Financial ...- Authors: Leonard Reback
- Date: Jun 2019
- Competency: Strategic Insight and Integration; Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting
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FASB Long Duration Insurance Contracts Redeliberations
the discount rate to use for discounting payout annuity benefits back to the anticipated annuitization ... undiscounted amounts. For universal life con- tracts a table would be required showing guaranteed and current ...- Authors: Leonard Reback
- Date: Mar 2018
- Competency: Leadership>Change management
- Publication Name: The Financial Reporter
- Topics: Annuities>Guaranteed living benefits; Annuities>Reserves - Annuities; Financial Reporting & Accounting>Financial Accounting Standards Board [FASB]; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Life Insurance>Reserves - Life Insurance
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Major Activity at FASB
Major Activity at FASB Description of FASB decisions in late 2015 and early 2016 Accounting Standards;DAC;Discount ... in the future include account- ing for variable annuity guarantees and disclosures. In The Financial ...- Authors: Leonard Reback
- Date: Jun 2015
- Competency: Professional Values>Practice expertise
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Financial Accounting Standards Board [FASB]; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Upcoming GAAP Developments
in 2015 and all U.S. companies would switch to IFRS by 2016. Mandating that U.S. companies switch ... International Financial Reporting Standards by U.S. Issuers.”1 Under this roadmap, if certain conditions ...- Authors: Leonard Reback
- Date: Apr 2009
- Competency: External Forces & Industry Knowledge
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Fair Values Disclosures For Financial Instruments Under FAS 157
used include actuarial assumptions, such as mortality, persistency and expenses, as well as assumptions ... projected using actuarial assumptions for items like mortality, persistency and expenses. But capital market ...- Authors: Leonard Reback
- Date: Sep 2008
- Competency: External Forces & Industry Knowledge
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Fair value accounting
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IFRS 17 Risk Adjustment Confidence Level Disclosure
IFRS 17 Risk Adjustment Confidence Level Disclosure Calculating the risk adjustment confidence ... the mean. Checking a standard normal distribution table tells us that a z-score of 0.93 corresponds to ...- Authors: Leonard Reback
- Date: Dec 2017
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; External Forces & Industry Knowledge>Actuarial theory in business context; Technical Skills & Analytical Problem Solving>Innovative solutions
- Publication Name: The Financial Reporter
- Topics: Finance & Investments>Economic capital
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Volatility from FASB Changes to Traditional Liabilities (Part 1)
Volatility from FASB Changes to Traditional Liabilities (Part 1) Feature article discussing the volatility ... death benefits is understood, the increased mortality may have additional knock-on effects, such as ...- Authors: Leonard Reback
- Date: Apr 2019
- Competency: External Forces & Industry Knowledge
- Publication Name: The Financial Reporter