Description: 1995 Valuation Actuary Symposium. This session covers various approaches to determining fair value of liabilities, Financial Accounting Standard 115, and other GAAP-related matters.

Description: This session from the 1992 Valuation Actuary Symposium covers recoverability and loss recognition including using cash flow testing to determine loss recognition or recoverability, actuarial standard of practice 14, and valuation work by line of business or issue-year groups.

Description: US GAAP for Life Insurers chapter 11 spreadsheets showing the development of the GAAP accounting items for credit insurance. Please see the book US GAAP for Life Insurers for more details on US GAAP accounting

Description: US GAAP for Life Insurers chapter 11 spreadsheets showing the development of the GAAP accounting items for credit insurance. Please see the book US GAAP for Life Insurers for more details on US GAAP accounting

Description: US GAAP for Life Insurers chapter 13 spreadsheets showing the development of the GAAP accounting entries for various classes of investments: bonds, CMOs, and mortgage loans. Please see the book US GAAP for Life Insurers for further information on US GAAP accounting.

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: This session is targeted for new ASAs/FSAs or actuaries who are new to reserving. The session will be delivered in two parts. The first part is intended to deliver a basic understanding of IBNR reserving and different reserving methods and assumptions. We will go through examples of constructing claims triangles and developing completion factors, while exploring concepts such as seasonality, trend and outlier claims. During the second part of the session, we will apply the material from the first part to look at various example from different products such as inpatient, outpatient, RX, Medicare Supplement, dental, critical illness, etc.

Description: Excel spreadsheet showing immediate annuity example of GAAP benefit reserves and Unearned Revenue Liability calculation from the U.S. GAAP & IFRS: Today and Tomorrow conference in New York in September of 2010.

Description: In September 2005, the AICPA issued SOP 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts. The SOP provides accounting guidance for DAC on internal replacements of insurance and investment contracts other than those specifically mentioned in FAS 97. Article discusses implementation issues.

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.