Description: 1999 SOA Annual Meeting, San Francisco. The panelists reviewed emerging proposals for reporting liabilities at fair value. Topics covered: 1. The Fair-Value Symposium in March 1999. 2. The measures and objectives of fair-value reporting. 3. The implication for the income statement and balance sheet. 4. The alternatives to fair-value reporting, such as embedded value. 5. The impact on asset/liability management. 6. The status of deliberations at the Financial Accounting Standards Board and the AICPA.

Description: This session 30 PD of the New Orleans Annual Meeting discusses how several organizations, with representation from a number of countries, are currently drafting new standards to create uniformity across nations. From the Record of the Society of Actuaries, Volume 27, No. 3.

Description: This presentation is a panel discussion from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. Noting that the regulatory authorities have been talking about the need to modify GAAP and statutory balance sheets to more closely reflect market values, with most of the focus on the market value of assets, the panelists discuss current regulatory thinking, including with respect to disclosures, problems associated with looking only at assets [and not liabilities], practical implications, and use of results as a management tool. From the Record of Society of Actuaries, Volume 17, No. 4B.

Description: Panelists at this session of the 2001 Valuation Actuary Symposium discuss recent developments in the area of fair-value financial reporting including recent FASB and IASB developments, international accounting standards, issues yet to be resolved and different approaches to valuing liabilities.

Description: Article explores two very different approaches that are currently being considered for use in projecting credited rates on interest sensitive products and show how they can be reconciled with one another.

Description: This article addresses the key capital and risk management issues immediately confronting the industry.

Description: The NAIC is working with state insurance departments to replace the existing rules-based valuation laws with principle-based valuation laws. On the GAAP front, both the International Accounting Standards Board, which sets GAAP accounting guidance for many countries outside the United States, and the Financial Accounting Standards Board, which promulgates GAAP guidance in the United States, are moving toward a “current estimate” standard of valuation, which often results in a fair value or similar measurement basis. This article reviews the IASB’s discussion paper on insurance valuation and the American Academy of Actuaries’ response to it.

Description: The author speculates that the world wide promulgation of fair value accounting standards will make the normal shape of the rate curve downward sloping rather than the upward sloping curve that is normally seen. The author explains why this trend is expected.

Description: In this article, the author gives an overview a number of Enterprise Risk Management ERM issues that arise when one considers the impact of income tax on a fair value accounting system.

Description: Article examines some of the shortcomings of Market Consistent Embedded Value reporting as it is currently constructed—particularly in periods of heightened volatility—and recommends some possible improvements that the CFO Forum is likely to consider.