Description: An update on the SOA's financial reporting research projects.

Description: The FASB is contemplating a joint project with the IASB on a new comprehensive accounting standard for insurance based on its Preliminary Views on Insurance Contracts. This article suggests that the best way to achieve the IASB objective of market-consistent valuation of liabilities is to use an explicit liquid/illiquid economic valuation and reporting paradigm.

Description: Just about everything that took place on the international front this quarter was influenced to some degree by the subprime crisis. Article discusses April - June developments in the creation of fair value accounting regulations, which progresses in spite of concerns that using a fair value accounting basis for financial instruments lacking a deep trading market makes does not make sense.

Description: Discussion of progress made at the NAIC Fall National Meeting on amendments to the Standard Valuation Law, the Valuation Manual - particularly with regard to principles-based reserves, and The Academy of Actuaries work on Risk Based Capital re C-e Phase III.

Description: The following Executive Summary is an excerpt from a report by Chris O’Brien entitled, “Market-Consistent Valuations of Life Insurance Business: The U.K. Experience.” The purpose of this article is to explain the new valuation approach, set out the issues with implementation and explain how insurers have addressed these issues.

Description: Certain fair value measurements involving actuarial work may not have been required to conform to FAS 157 until late 2008 or early 2009. The purpose of this article is to discuss those items and propose possible methods for actuaries to consider when performing the necessary valuations, from an actuarial standpoint only.

Description: Summarizes the major provisions of the International Accounting Standards Board’s recent exposure draft entitled Insurance Contracts, regarding a full accounting standard for insurance.

Description: Article discusses the measurement objectives being considered by the FASB and IASB joint project to produce a new accounting standard for insurance contracts.

Description: Feature article discussing the actuarial response to the global financial crisis and the actuary’s influence on IFRS.

Description: Feature article describing the latest opinions on fair value accounting.