Description: Article discussing recent developments in financial reporting research by the Section: 3 new PBA projects, stochastic pricing of embedded options, and comparison of results under IFRS and GAAP.

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

Description: Discussions of alternative approaching to setting ascribed premiums for market risk benefits under FASB targeted improvements.

Description: Analysis of IASB position on the discount rate to use in computing the Fair Value of Insurance Liabilities

Description: The NAIC calendar for 2008 is well underway. An overview of recent activity within certain aspects of the groups associated with the evolution of the Valuation Manual is presented here.

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 rebutting the Dec. 2004 issue of The Financial Reporter article titled, “On the Fair Value of Insurance Liabilities,” authored by Don Solow. That article expressed disagreement with the position of the International Accounting Standards Board and the Financial Accounting Standards Board to reflect the value of “own credit risk” in the fair valuation of insurance liabilities.

Description: This is a continuation of a discussion about the the theoretically correct treatment of the credit put the policyholder writes when purchasing an insurance contract.

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.