Description: A discussion about international financial regulatory developments, which included fair value accounting, solvency modernization and Contract Fulfillment Value as a measurement attribute for insurance contracts.

Description: Compares Fair Value of liabilities under US GAAP to Solvency II.

Description: Announcement of the winners of the awards for Financial Reporter OutStanding Treatises - FROSTies - and Financial Reporter Uniquely Memorable Papers - FRUMPies - and what they received.

Description: Feature article giving an update on the International Standards of Actuarial Practice and International Actuarial Notes.

Description: International Accounting Standards: a discussion of Exposure Draft 5 dealing with specific requirements for insurance companies

Description: The introduction and effective application of US GAAP LDTI have increased the scrutiny of those reviewing the updated financial results. That is because LDTI has resulted in significant changes in actuarial reserving and deferred acquisition cost (DAC) models for long-duration contracts, including significant changes to data, assumptions and required disclosures. In light of the changes, greater reliance has been put on companies’ model risk management (MRM) teams and model validations to assess the conceptual soundness and accuracy of their companies’ actuarial models and to assess that the underlying data and process utilized are suitable and appropriate. This article covers a brief background on model validation, walk through a sample LDTI-focused model validation framework/test plan, then provide insights on common LDTI-related validation observations based on the authors' prior validation experience.

Description: Article discussing the International Actuarial Association's meeting in November 2008.

Description: Discount rate curve construction has been a topic of renewed interest following recent changes in financial reporting standards. Interpolation is a key component of curve construction and can be conducted via an assortment of methods. This article explores six popular interpolation techniques and assesses how they perform with regards to desirable features of such methods: continuity of forwards, stability and locality, simplicity, and market consistency.

Description: Importance of non-GAAP operating earnings

Description: Feature article discussing the International Accounting Standards Board’s insurance contracts project.