Description: This article discusses how statutory financials would differ from a reasonable GAAP for a mutual company's structure, if the latter were ever imposed.

Description: The purpose of the article is to summarize the results and conclusions of the C-1 Risk Task Force Report prepared for the Committee on Valuation and Related Areas. A key question: Is the risk to insurance companies of defaults on junk bonds sufficient to justify increasing required surplus levels?

Description: A British actuaries perspective on what could happen should two reserve/accounting basis exist that could lead to reducing the strength of statutory accounting and perhaps the financial strength of North American insurance companies. Some might find similarities to what might happen during the transition to principles based statutory accounting.

Description: This article makes a case for implementation of a mortality fluctuation reserve in GAAP accounting.

Description: Discusses the emerging issue of non-formulaic reserves, which surrounds principles-based reserving, in a Q&A format.

Description: Summary of Part II of the survey of Appointed Actuaries, sponsored by the American Academy of Actuaries Committee on Life Insurance Financia1 Reporting and the Society of Actuaries Financial Reporting Section, which asked appointed actuary various questions on methodology and assumptions employed for asset adequacy testing.

Description: Author, then the chief actuary of the New York State Insurance Department, discusses the appropriateness of certain assumptions used in the valuation of life insurer liabilities.

Description: The only indices set out in the Annual Statement are 1 the ratio of net investment income to mean assets in Exhibit 2, and 2 those ratios in Schedule H and the Accident and Health Policy Experience Exhibit the Exhibit. The impropriety of the Schedule H and Exhibit ratios as meaningful indicators is discussed below. It is assumed in the discussion that statutory accounting principles and considerations are operative, and the superiority of indices based on generally accepted accounting or economic value principles is not advanced. The statutory indices adjusted and unadjusted are used and referred to by regulators, industry groups, trade journals, and others. Thus, within the context of statutory accounting, the indices should be properly determined.

Description: Derives two troublesome formulas in the Gain and Loss Exhibit of the Statement using techniques developed in Measurement of Mortality. The formulas in question are those for Tabular Interest.

Description: This articles discusses the questions - should statutory profits be discounted at an after-tax rate, or at a pre-tax rate?