Description: 1998 Valuation Actuary Symposium. In this open forum questions were fielded by the panel of experts. Some of the questions: 1. How do you pick spreads for use in your reinvestment strategy? 2. What's generally being done in terms of dynamically modeling policyholder lapsation? 3. How do companies treat riders and dump-in premiums and estimated gross profits for GAAP? 4. What impact does the current interest environment have on testing you are going to do this year? 5. Are there any suitable techniques for trying to aggregate the variable products with the fixed products?

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Addresses a variety of financial reporting issues of interest to the attendees at a meeting of Valuation Actuaries.

Description: Since the issuance of IFRS 17 in 2017, the global insurance accounting standard, insurers across the globe have been making huge investment in assessing the impact and implementing the new standard. In late 2018, FASB issued ASU 2018-12 that revises key elements of the U.S. GAAP measurement models and disclosure requirements for long-duration contracts issued by insurers (also called FASB Targeted Improvements). Both standards are becoming effective 1/1/2021 (though IFRS 17 may potentially be deferred by a year). U.S. insurers that have international parents or subsidiaries, and report under a multi-GAAP environment will likely have to adopt both standards. By now most insurers should have nearly completed impact assessment for IFRS 17, designed road map for or have started the implementation journey. With the new U.S. GAAP requirements becoming effective concurrently, it is important to embark on the implementation journey with both standards in mind, and maximize the synergy to achieve cost-saving and design efficiency. This session will briefly introduce the two standards with a conceptual comparison, along with a discussion on where efficiency and synergy can be achieved in a concurrent implementation.

Description: This session 60OF of the 2004 Valuation Actuary Symposium open forum addresses current issues of interest to actuaries in the application of U.S. GAAP. Experts in the application of GAAP to life insurance companies lead discussions on the theoretical and practical aspects of these topics and other emerging issues.

Description: This session is about meeting the needs for financial information in managing an insurance company. Topics include: 1. What are management's basic needs how are they met can financial systems continue to meet the challenge? 2. Are fundamental changes ahead for GAAP reporting? 3. Is it time for mutual companies to provide more meaningful financial information? 4. Can current regulatory reporting meet the needs of the 21st century? 5. Can separate statutory and GAAP systems continue to coexist? 6. Will the United States regulatory environment reduce our global competitiveness? 7. Variance analysis - Why your predictions were wrong - Which variances are acts of God? - Which variances should be blamed on somebody? - How to deal with interest rate fluctuations 8. Market valuation, why? - What questions are being addressed with market valuation

Description: This panel discussion, presented at the SOA's May 1976 Meeting in Houston, presented trends in GAAP and statuatory financial statements. Topics included: actuarial certifications, GAAP for participating insurance, GAAP for mutual companies, amortizing acquisition expenses, apropriate surplus levels, asset valuation, and materiality. From Record of the Society of Actuaries 1976, Volume 2, No. 2.

Description: FILLING IN THE GAAP teaching session at 1976 Spring Meeting covering Principles, Basic Practical Considerations and Advanced Practical Considerations.

Description: This session from the 1983 SOA Spring Meeting focuses on adding a new line of business in an established company, reasons to consider adding a new line, the resources needed for the line and the performance measures to assess profitability. From Record of Society of Actuaries Vol. 9, No. 1.

Description: Attendees will discuss and share their experiences regarding current and anticipated challenges with respect to health reserves. Attendees will have the opportunity to ask questions and voice concerns to their peers to get real world feedback from actuaries with similar experiences. You don't want to miss this session!

Description: Presented at May 1996 Spring Meeting. Panelists share experiences and discuss alternative approaches to various implementation issues related to mutual company GAAP conversions.