Description: This is the final article in a five-part series about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at some concerns that arise when new reinsurance is purchased to cover previously-issued contracts. The article describes what formal guidance is available. Where that guidance leaves off, the article presents practical solutions to achieving performance objectives.

Description: This article is dedicated to the non-statutory accounting treatment of common credit risk exposures of life insurers but does not cover all aspects of non-statutory accounting standards. It introduces the concept of and the valuation of credit risks, concerning life insurers.

Description: This is the third in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at some techniques that have been used to account for long-duration reinsurance under existing GAAP (before LDTI). It looks at whether and how those techniques can be updated to comply with the updated standards and evaluates their effectiveness against compliance, performance, and simplicity objectives.

Description: This is the fourth in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at some concerns that arise from the relationship between ceded reinsurance and the underlying contracts. Recognizing a lack of formal guidance addressing these concerns, the article aims mostly to achieve performance and simplicity objectives

Description: Update on accounting and capital/RBC issues subsequent to tax reform.

Description: Applying GAAP to GMDBs in Variable Annuities. by Karen Sasveld and David Heavilin from The Financial Reporter, September 2001, Issue No. 47.

Description: In September 2005, the AICPA issued SOP 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts. The SOP provides accounting guidance for DAC on internal replacements of insurance and investment contracts other than those specifically mentioned in FAS 97. Article discusses implementation issues.

Description: Introduction to the purposes and roles of “Lifric”, an acronym for the American Academy of Actuaries working group, Life Financial Reporting Committee

Description: Discussion of AICPA Statement of Position 05-1: Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance Contracts.

Description: How actuarial practices have benefited from lessons learned from accountants