Description: This paper considers the question of whether or not the growth in the size of financial statements witnessed over the last several years has yielded an increase in the quality of disclosure around issues of financial risk and to what extent this disclosure is satisfying the perceived needs of readers of the financial statements, as represented by the investment analyst community. The question is addressed by presenting the results of research consisting of 1 the review and analysis of the disclosures addressing issues of financial risk contained within financial statements issued from 1999 to 2004 by 25 major insurance companies operating in the US and 2 the interviewing of 5 insurance industry analysts to understand their perceptions of what is good and bad about financial disclosure practices of life insurance companies.

Description: U.K. life insurers writing participating business are required by the Financial Services Authority to value their assets and liabilities on a market-consistent basis. The purpose of this paper is to: • Explain the valuation approach based on market-consistent values and its rationale. • Set out the issues faced by life insurers in implementing the regime. • Explain how insurers addressed these issues. • Explain the importance of the modeling techniques they used.

Description: Insurance accounting is in the midst of significant changes, many of which were proposed during a time of severe economic uncertainty. Given the concern about these regulations by many insurance finance executives, it is time for a re-examination of the capabilities of the financial reporting function. For insurers, actuarial components are a critical part of the financial reports, and so actuaries can be expected to play a critical role in moving the overall financial and regulatory reporting function forward. In fact, the financial and regulatory reporting function in an insurance company cannot advance significantly without actuarial expertise. This article explains how actuaries are therefore in the position of being able to help drive the evolution of a company’s finance function.

Description: 1993 SOA Annual Meeting, New York. This session is about Market-Value Accounting. Topics included: 1. Where market-value accounting came from. 2. An historical perspective on the issue. 3. The mechanics of MVA. 4. How companies may change their investment strategies as a result of SFAS 115.

Description: This article discusses market declines and the impact that white collar crime or gross dishonesty in financial reporting can have on market declines.

Description: This article describes the shortcomings of a rules–based valuation system and the benefits of a principles–based valuation system. It discusses the concerns that have arisen since the introduction of Canadian GAAP and Canada's current direction toward a principles-based valuation of insurance liabilities.

Description: Panel for session 46SM/L of the New York Annual Meeting presents an update on the American Institute of Certified Public Accountants and Financial Accounting Standards Board activities. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: This Report presents the results of a three-year study on Demutualization by a Task Force of the Society of Actuaries. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: Since IFRS17 draft was issued in June 2019, IASB has discussed various important issues, such as the selection of B137 and the judgment to investment components. This session will be focused on the discussion and sharing of these aspects, to help understand the latest developments. At the same time, actuaries played an important role in the implementation of IFRS 17. The speaker will share the important work of actuaries in the implementation and application of IFRS 17 through the observation of the previous implementation process.

Description: A high-level review of the newly effective U.S. Actuarial Standard of Practice 56, Modeling