Description: Discussion of FASB's June 2018 meeting on accounting for targeted improvements for long-duration insurance contracts and summary of the decisions to date

Description: Presented at May 2002 Spring Meeting. Discusses accounting methods in different countries as well as recent developments in international accounting standards for insurance.

Description: This paper addresses the classification of products according to their accounting standards: SFAS 60 for traditional products, SFAS 97 for interest sensitive products, and SOP 95-1 for participating products. In particular, the question of which products should be classified under the Statement of Position will be addressed. In addition, it will be shown that if a product's dividend formula passes on to the policyholder significantly less than a full asset share an over-reserving problem will occur if the Statement of Position is used as the accounting system.

Description: Presented at May 1985 Spring Meeting. This session discussed: Single premium deferred annuity, Flexible premium annuity, Universal life, Vanishing premium life, Indexed products, Variable products, Reinsurance.

Description: This article compares and contrasts existing and near future differences in fair value requirements between US GAAP and IFRS. The focus of this article is on fair value requirements as they relate to actuarial valuations of insurance contracts - including certain contracts classified as investment contracts, and therefore ignores implications on investments held by insurance companies.

Description: The use of Other Comprehensive Income OCI is receiving its moment in the sun. It is being considered for housing some of the earnings volatility in the International Accounting Standards Board IASB current approach to measuring insurance contracts’ performance.

Description: Presented at June 1985 Spring Meeting. Discusses statutory and GAAP accounting alternatives for Universal Life, Variable Products, Flexible Premium Annuity and Single Premium Deferred Annuity.

Description: This paper reviews the process performed in the actuarial department at one company as an illustration of the process of complying with Sarbanes-Oxley. It also discusses costs and benefits.

Description: The latest draft ORSA Guidance Manual was released on Oct. 14, 2011. An overview of the requirements from a qualitative, quantitative and governance perspective was provided in the December edition of the Financial Reporter. Several trade associations and com- panies commented on the draft.

Description: FASB decisions made regarding potential changes to US GAAP accounting that differ from corresponding IASB decisions, causing the potential accounting changes.