Description: This article describes changes to financial reporting for variable annuities under US GAAP, IFRS and Statutory regulations, and implications for hedging.

Description: One major feature of the OECD's two-pillar regime is that MNEs would base the calculation of taxes due on book-based financial statements. The article provides a summary of how these rules operate along with suggested actions insurers can take today to prepare for timely compliance.

Description: This is the third in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at some techniques that have been used to account for long-duration reinsurance under existing GAAP (before LDTI). It looks at whether and how those techniques can be updated to comply with the updated standards and evaluates their effectiveness against compliance, performance, and simplicity objectives.

Description: This 1981 session concerned public issues that involve both actuaries and accountants, such as pension plan funding and reporting, GAAP for mutual life companies and independence in auditing. From Record of Society of Actuaries, Vol. 7, No. 2.

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: This paper, chapter IV of the 1987 Valuation Actuary Handbook, presents a discussion and comparison of different financial reporting bases, including statutory, GAAP, modified GAAP for internal management purposes, tax, and appraisals. The author discusses the different audiences for financial information and which reporting bases are important to which audiences. The author also discusses the relationship between the valuation process and both the financial management and pricing processes, and the importance of the actuary’s responsibilities.

Description: Existing actuarial literature does not provide a consolidated comparison of the available alternatives for accounting for universal life. This paper will analyze the similarities and differences between the existing prescribed method and the proposed alternatives. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: Overview of activities of the Financial Reporting Section.

Description: This article explores some key challenges facing the modeling actuary related to LDTI implementation and shares associated compliance and modernization considerations.