Description: A review of Section 404 of the Sarbanes-Oxley Act, including a review of the need for life and health insurance actuaries to review and, in most cases, substantially strengthen their internal controls over financial reporting.

Description: Companies exempt from PBR can benefit by borrowing ideas and lessons learned from companies that perform and operate in a PBR world. The presenters will discuss VM requirements related to governance policies, as well as assumption and margin setting, plus model validations and controls which can benefit smaller insurance companies. Attendees will learn about new actuarial practices and how the PBR methodology and Valuation Manual can influence their work and highlight available resources.

Description: Presentation at May 1996 Spring Meeting. This panel discussion covers emerging issues in Canadian financial reporting for life insurance companies: new consolidated standards of practice, future financial condition opinion, disclosure of financial information.

Description: This presentation, session number 5PD, took place at the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. This session focuses on the Generally Accepted Accounting Principles, ‘GAAP,’ methods and standards of practice applicable to accounting for purchase of a block of business. The panelists discuss working with investment bankers and others, presentation and determination of actuarial opening balance sheet items such as benefits reserves and present value of future profits, actuarial appraisal values, impact of synergies, management initiatives, expense savings, projection of GAAP profits, various accounting issues, and applicable Actuarial Standards of Practice. Discussion from participants is included. From the Record of the Society of Actuaries, Volume 26, No. 3. Possible keywords: VOBA=value of business acquired PGAAP=purchase GAAP accounting Actuarial appraisal

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of guaranteed minimum death benefits, guaranteed minimum income benefits, and guaranteed minimum accumulation benefits on variable deferred annuities, along with floor guarantees on variable immediate annuities. This session described the types of benefits found in the marketplace along with the associated risks. Current reserving practices, risk management techniques, and the latest American Academy of Actuaries AAA and National Association of Insurance Commissioners NAIC developments are discussed.

Description: Responsibilities Of The Actuary For Communicating Sarbanes-Oxley Control in accordance With Actuarial Standards of Practice

Description: This article includes updates on the IASB, the ACSEP publications for education on IFRS for insurance and the development of model standards - International Standards of Actuarial Practice.

Description: This session discusses activities of the AAA with respect to financial reporting and actuarial opinions, related emerging legislation [Sarbanes-Oxley], FAS 141 & 142 [business combinations], and liability determination. From the Record of the Society of Actuaries, Volume 28, No. 3, Session 25

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Presents questions to actuaries who are experts in the field of actuarial valuation of insurance company assets and liabilities.

Description: This presentation is an Interactive Forum, session number 20IF, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists discuss the American Academy’s Valuation Task Force and its committees working on the proposal to revise the Standard Valuation Law, referred to as the Unified Valuation Law [UVL], to update participants as to the status of the committees’ work. They provide a description of the activities currently taking place, and an update of where the revisions process stands and what the next steps are. The current system versus what is proposed are discussed, including concerns of regulators. Discussion from participants is included.