Description: A methodology for calculating risk margins related to policyholder behavior risks for guaranteed living benefits on variable annuities when measuring fair value under FAS 157.

Description: This article discusses key considerations and differences in measurement requirements between IFRS 17 and LDTI, leveraging a term insurance example to illustrate potential impacts on liabilities and, ultimately, earnings emergence.

Description: A discussion of the Morris Review in the UK: a government-requested review of the actuarial profession in the U.K.

Description: Cautions against putting too much faith in financial models - such as the IASB's proposal to accrue future expected profits on the day a policy is issued.

Description: Recently, in preparation for a meeting of all section chairpersons, I was asked to compile a list of the most important issues facing financial reporting actuaries over the next several years. This question caused me to think about where we have been and where we are today—in order that I might form some type of backdrop for analyzing the future needs of our section members.

Description: As companies implement PBR, this article outlines challenges regarding the treatment of accelerated underwriting under VM-20 and in light of future innovation.

Description: This article highlights some key implications for PAA and Related Disclosure Requirements under IFRS 17.

Description: Earlier this year, the Securities and Exchange Commission informed one of its registrants that prospective unlocking of benefit reserves for long-term care LTC insurance was not an acceptable practice under current US GAAP. The purpose of this article is to make actuaries aware of this action and provide some additional context.

Description: This article is aimed to cover the following: 1) Provides an assessment of income volatility under Long Duration Targeted Improvements (LDTI) for several key types of long duration contracts along with select illustrations, and compares against those under current GAAP, 2) Discuss areas where accounting policies or methodologies can influence income volatility, and 3) Show how a company's management reporting can be adapted to help explain income variances under LDTI.

Description: Discussion rebutting the Dec. 2004 issue of The Financial Reporter article titled, “On the Fair Value of Insurance Liabilities,” authored by Don Solow. That article expressed disagreement with the position of the International Accounting Standards Board and the Financial Accounting Standards Board to reflect the value of “own credit risk” in the fair valuation of insurance liabilities.