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GAAP Targeted Improvements: Unlocking 2.0
Figure 2 adds the extrapolated adjustment to Figure 1’s term insurance illustration. Rather than drifting ... Statements Prepared in Accordance with U.S. GAAP ASOP 10’s section 3.3 (Best Estimate Assumptions) says ...- Authors: Steven Malerich
- Date: Dec 2017
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Problem analysis and definition; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Life Insurance>Reserves - Life Insurance
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Resolution of Circularity Issues in SOP 03-1
date” (para- graph 31). An example is a two-tier annuity where the lower-tier balance is available on cash ... becomes apparent: Expected gross profit depends on mortality and/or annuitization liabilities, which depend ...- Authors: Michael Lesar
- Date: Aug 2004
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Two New Bases, One Big Transformation— Thoughts on Concurrent Implementation of two Accounting Bases
report in certain jurisdictions under IFRS, or U.S. subsidiaries of multi-national insurers located ... and detailed enough to meet the requirements for U.S. and international reporting bases. This will avoid ...- Authors: Aisling Metcalfe, Alexander Zaidlin, Gavin Stewart
- Date: Dec 2018
- Competency: Technical Skills & Analytical Problem Solving
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>International Financial Reporting Standards [IFRS]
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Targeted Improvements—Illustrated Universal Life Earnings
combination of aggregate COI rates and a select mortality assumption causes in- surance margins to decrease ... benefit (GMxB) guaran- tees embedded in variable annuity contracts clearly fall under this definition.- Authors: Steven Malerich
- Date: Jun 2017
- Competency: Results-Oriented Solutions>Actionable recommendations; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Life Insurance>Universal life
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Embedded Derivatives in Modco and Similar Reinsurance Arrangements
18 More Efficient Monte Carlo Simulation for Mortality Assumption Testing — This article describes a ... Generalized Mortality Table Analysis — Companies usually use a stan- dard industry table with scaling ...- Authors: Richard H Browne
- Date: Jun 2003
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Financial Reporting Research Update
universal life and make updates for principle- based U.S. statutory reserves, target changes to US GAAP, ... monthly deduction benefits. Survey topics included mortality, valuation and pricing, and may be valuable to ...- Authors: David C Armstrong, Ronora Stryker
- Date: Jun 2018
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Financial Accounting Standards Board [FASB]; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>International Accounting Standards Board [IASB]; Financial Reporting & Accounting>International Financial Reporting Standards [IFRS]
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Implementation Perspectives On Solvency II Internal Model Standards
sold in the United States. For instance, fixed annuity writers may question an internal model result ... proposed framework is fully appropriate for the U.S. products, and may find it difficult to meet the ...- Date: Mar 2013
- Competency: External Forces & Industry Knowledge>Actuarial theory in business context; Results-Oriented Solutions>Actionable recommendations
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Financial Accounting Standards Board [FASB]; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>International Accounting Standards Board [IASB]
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GAAP Targeted Opportunity
old problem in a new way. TRUE UP FOR ACTUAL MORTALITY EXPERIENCE Figure 1 shows quarterly income for ... experience is performed only once each year and the mortality assumption is changed at the beginning of year ...- Authors: Steven Malerich
- Date: Jun 2018
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Problem analysis and definition; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Life Insurance>Reserves - Life Insurance
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An Alternative Option-Based Approach to Calculating MRBs
OPTION-BASED APPROACH Consider a xed indexed annuity (FIA), with money invested in both indexed and ... caps on an FIA, or higher M&E fees on a variable annuity (VA). 2. Another choice: At transition, a company ...- Authors: John Adduci
- Date: Dec 2019
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Publication Name: The Financial Reporter
- Topics: Annuities; Annuities>Equity-indexed annuities; Annuities>Fixed annuities; Annuities>Guaranteed living benefits; Annuities>Reserves - Annuities; Annuities>Variable annuities; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Annuities>Living / Death benefit riders
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Introducing a New Practice Note on Purchase GAAP Accounting
also dealing with business combinations subject to U.S. statutory accounting and tax laws, and that such ... practice note includes significant refer- ence to U.S. statutory and tax accounting, beginning with the ...- Authors: Steven Malerich
- Date: Jun 2014
- Competency: External Forces & Industry Knowledge>Actuarial theory in business context
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]