Description: Presented at May 2002 Spring Meeting. This session covers the current status of FAS 133 and extensions such as the proposed statement of position on accounting and reporting by insurance enterprises for certain nontraditional, long-duration contracts and for separate accounts.

Description: Attendees will hear a brief summary of the major requirements of the Statement of Financial Accounting Standards No. 133, Accounting for Derivative Instruments and Hedging Activities SFAS 133, a more detailed description of certain key provisions is given and the leaders summarize the impact on the industry. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 42TS of the New Orleans Annual Meeting.

Description: Presented at April 1985 Spring Meeting. This session discussed different accounting alternatives for products such as Universal Life, deferred annuities, variable products.

Description: This session at the 1998 Valuation Actuary Symposium looks at FAS 133, GAAP accounting for derivatives, including the impact on financial statements, implementation issues, and implications for the valuation actuary.

Description: This session at the 2003 Valuation Actuary Symposium reviews the actuarial aspects of GAAP accounting including methods and considerations of reporting under FAS 60, FAS 97, FAS 120, FAS 133 and Purchase GAAP. Examples and financial statement case studies are introduced.

Description: 1998 Valuation Actuary Symposium. The speakers discussed dissecting and rearranging GAAP financials to provide more meaningful information and a comparison of the FAS 60 format of reporting earnings to a source-of-earnings format.

Description: 1999 SOA Annual Meeting, San Francisco. This panel discussion dealt with several new product types and the accounting profession's efforts to provide guidance. The five product types below do not fit neatly into the rules set forth in Statement of Financial Accounting Standards 50 and 97: 1. Variable annuities with guaranteed living benefits. 2. Equity-indexed products. 3. Market-value-adjusted annuities. 4. Annuities with a front-end bonus feature. 5. Investment contracts with no significant source of profit other than interest spread.

Description: This 1978 presentation discusses the recommendation made by the Canadian Institute of Chartered Accountants to move to a GAAP basis for reporting for life insurance companies. The primary purposes would be to report earnings on a going concern basis, rather than on a basis dominated by solvency considerations, and to promote improved comparability of reported financial results among companies.

Description: This session at the SOA 1990 Hartford Spring Meeting is about mutual company GAAP including defining what GAAP means for mutual companies, contrasting it with stock company GAAP, and discussing implementation issues. Alternative Minimum Tax is also discussed.

Description: The life insurance and annuity marketplace is experiencing fierce competition, and many life insurance companies have responded to this by offering special product upgrades to their policyholders with the intent of retaining their business. From the Record of the Society of Actuaries, Volume 27, No. 2, Session 100PD of the Toronto Spring Meeting.