Description: Risk adjustment is needed under IFRS 17 to reflect the compensation that a company requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk. Companies are also required to disclose the method and confidence level used for the calculation of the RA. However, IFRS 17 doesn’t specify a method and a confidence level, nor does it provide a list of specific risks that are considered to be non-financial risk. Companies need to define them based on their own preferences or existing practices. This article will introduce available approaches and discuss the confidence level approach with potential consideration stemming from industry preferences and illustrative examples.

Description: This article is an update, as of September 2019, on projects in process and those recently completed.

Description: FASB's Statement of Financial Accounting Standards No. 97 contains wide-sweeping changes to the preparation of GAAP financials for insurance companies. The focus of this article will be on the ramifications of the interest rate FASB has decided to use to amortize deferred acquisition costs.

Description: The Actuary Vol. 22, No. 2. This article discusses how the the choice of basis for measuring Interest Rate Spread impacts pricing and accounting for interest sensitive products.

Description: This discussion at the 1968 Annual Meeting covers various aspects of life insurance accounting including the Mandatory Securities Valuation Reserve, accounting adjustments when registering with the SEC, GAAP for non-admitted assets, reserve conservatism, and tax liabilities.

Description: Blazing the Path for a Unified Valuation System by David K. Sandberg from The Financial Reporter, June 2000, Issue No. 42.

Description: Summary of the SOA's research report Modern Deterministic Scenarios for Interest Rates, which developed interest rate scenarios for use in cash flow testing.

Description: Synopsis of Issue Brief prepared by Tax Work Group of the Academy-LTD Claim Reserve Assumption Basis: Use of date of incurral/date of issue of original policy.

Description: A high level summary of developments of the new international accounting standard for insurance contracts (IFRS17) from the perspective of a general insurer.

Description: This is an update, as of July 2020, on projects in process and those recently completed sponsored by the Financial Reporting Section.