Description: Sequel to the author's paper The Taxation of Insurance in Canada, which was published in 1970 in Volume XXII of the Transactions. The first paper covered the history of insurance taxation in Canada through 1969, including a description of the radical changes that became effective that year as an early phase of tax reform, following the 1967 recommendations of the Royal Commission on Taxation. Further general tax reforms became effective in 1972, including the introduction of taxes on capital gains a number of clarifications and refinements were also enacted in 1973. The present paper outlines these general changes, with particular emphasis on their effect on insurance. Finally, a completely revised mathematical presentation of the taxation of insurance corporations is given, together with formulas and examples of the marginal taxation rates on various kinds of income and disbursement of such corporations. Followed by discussion papers submitted by 2 authors

Description: This paper discusses the principles found in the Academy of Actuaries Committee on Financial Reporting Principles' Recommendation 4, Reinsurance Ceded by Life Insurance Companies and proposes solutions to certain problems of implementation, and identifies items where there might be differences of opinion. Followed by discussion papers submitted by 2 authors

Description: The purpose of this paper is to set forth a mathematical technique which in the author's experience has proved useful in testing the tax implications of various management actions.

Description: This paper develops a tool that may be useful in explaining the differences between earnings that are reported under GAAP and profits that are expressed as an internal rate of return.

Description: The insurance reserve for an individual contract can be pictured as a quantity which changes continuously from moment to moment in response to the forces of interest and mortality. A different mathematical model arises for each method of defining the death benefit, and in this paper a number of such mathematical models are analyzed. Followed by discussion papers submitted by several authors

Description: These were discussion papers on the paper, 'The Korean War Hazard' by James T. Phillips.

Description: This paper shows how net costs of virtually all life insurance contracts may be compared, using, for each contract, the ratio of two interest-adjusted cost indexes denoted as Interest Adjusted Cost indexes. The paper includes a discussion of how the relative cost of early termination of the contract may best be shown to the buyer. Followed by discussion papers submitted by various authors

Description: This paper presents mortality rates by sex at ages 90 and above for persons who received retired worker benefits from the social security program for the first month that such benefits were paid. Followed by a discussion paper

Description: This paper examines the effects of selection procedures used in epidemiologic studies and suggests that similar procedures could be employed to select standard ordinary insurance risks at the older ages. The experience in this paper was developed from a prospective epidemiologic investigation launched by the American Cancer Society in the fall of 1959 to learn how personal characteristics, living styles, and environmental conditions influence health and longevity.