Description: The International Accounting Standards Board IASB is working to finalize reporting standards for insurance and investment products. Companies domiciled in European Union countries will be required to report financial statements under International Accounting Standards IAS in the near future. From Session 9PD of the 2004 Boston Valuation Actuary Symposium.

Description: Discusses the IASB insurance contract project and the major components of the new accounting standard, including the guidance it provides regarding how to define the term “insurance contract.”

Description: This session will have two sections: General consideration of IFRS17 implementation for VA writers and reinsurers A case study of IFRS17 implementation for a reinsurer The first section will go over VFA and GM approaches that are available for VA writers. Both approaches have their own challenges. We will highlight some of the challenges and how to approach/overcome them. Additionally, we will discuss how hedging/ALM can help smooth the transition. The second section will go over the details of implementation process of a VA reinsurer. The case study will explore valuation challenges unique to reinsurers assuming business that would otherwise be valued under the VFA. It will also go over some of the modeling difficulties, project management, and database requirement.

Description: Read the March 2018 issue of The Financial Reporter published by the Financial Reporting Section. It provides practical information for the working actuary.

Description: Purchase accounting for insurance business combinations under China-GAAP from an actuarial perspective

Description: Feature article discussing the latest actions of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

Description: Feature article discussing the changes IFRS 4 Phase II will have on reinsurance contracts.

Description: Report of quarterly IASB Discussions

Description: This session will describe best practices for the preparation of the actuarial memorandum that supports the statement of actuarial opinion that is part of a health annual statement and review highlights of the new (2019) practice note on this topic. Presenters will represent different perspectives to discuss the components of an actuarial memorandum and use examples to present best practices and practical application of the information presented in the practice note.