Description: Author's views about adjustment of earnings. The thesis is, simply, that the distortion of earnings is caused by the establishment of a statutory reserve in the annual statement which differs from a realistic evaluation of the future liability. As a corollary, the concept of prepaid acquisition expense as a basis of adjustment will be seen to be inappropriate.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: Discusses reasons for recent extensive industry changes in premium rates and expected trends, merits of different types of federal income tax treatment in financial statements, and discussion of merits of proposed state regulations regarding classification and allocation of income and expenses.

Description: This article discusses the current status of the statutory move towards principle-based reserves, including implications for small insurance companies, noting that the outcome is certainly unclear.

Description: This dialogue discusses the history and purpose of section 811(a) and its historic role in the computation of life insurance company taxable income and, in particular, reserves.

Description: This article describes how there are many kinds of plans and arrangements under which qualified annuities are issued, and the rules governing them differ considerably.

Description: A discussion of the possible effort required and impacts resulting from the implementation of C3 Phase II for establishing risk-based capital for variable annuities. This article will describe practical considerations gleaned from actual valuation calculations recently performed by a consulting firm.

Description: Discussion of the movement toward principle-based reserves for LTC insurance.

Description: This discussion forum reviews problems of concern to small companies in preparing the new form of annual statement and if the comparisons of expenses, interest rates and other items among companies of like size are now more meaningful.

Description: This article describes changes to financial reporting for variable annuities under US GAAP, IFRS and Statutory regulations, and implications for hedging.