Description: The purpose of this article is to explore the causes and effects of FAS 97 DPAC amortization revisions and to encourage the preparation of analysis that will assist in the interpretation and communication of results for management users of GAAP product line financial reports involving such revisions. From Society of Actuaries Financial Reporting Section Monograph, M-AS99-1.

Description: The NAIC has adopted revisions on Actuarial Guidelines 43 and C3 Phase II for Variable Annuities ("NAIC VA Reform"), effective January 1, 2020. The panel of presenters will provide background and overview of the Reform, and discuss detailed aspects of the new CTE Amount, Standard Projection and Withdrawal Delay Cohort Method. The panelists will share implementation considerations and the Reform's implications to hedging.

Description: Demutualization: Filling the “GAAP” in Accounting by Darryl G. Wagner and Patricia E. Matson from The Financial Reporter, February 2000, Issue No. 41.

Description: This paper argues by means of a mathematical demonstration that: 1. Natural reserves are not appropriate for adjusting earnings of mutual life insurance companies under GAAP. 2. Adjusted earnings developed by using statutory net level premium reserves together with a nonadmitted asset equal to the present value of unamortized variable acquisition expenses, and, if material, possibly with the reserves for terminal dividends, should bc accepted under GAAP, provided that dividend scales are suitably designed. 3. Other approaches which are essentially equivalent to that in bullet #2, such as those involving historical asset share funds, should likewise be acceptable.

Description: Applying GAAP to GMDBs in Variable Annuities. by Karen Sasveld and David Heavilin from The Financial Reporter, September 2001, Issue No. 47.

Description: This paper explores a reserving technique in which profits are recognized as a percentage of assets. Followed by a discussion of the paper.

Description: US GAAP for Life Insurers chapter 9 spreadsheets showing examples of payout annuities. Please see the book US GAAP for Life Insurers for more details on US GAAP accounting.

Description: US GAAP for Life Insurers chapter 3 spreadsheets. These various spreadsheets show various tables related to insurance company expenses both deferrable and non-deferrable along with DAC and Persistncy bonus amortization schedules. Other tables shown include account value roll forwards Expected Gross Profits EGPs. Please see the book US GAAP for Life Insurers for full information on US GAAP Accounting.

Description: Practical Considerations for Implementing the New Statement of Position for Long Duration Contracts and for Separate Accounts –

Description: This paper illustrates a procedure for analyzing the sources of profit under FAS 97 and suggests an analytical procedure for reflecting actual experience and revised future assumptions in the recalculation of the estimated gross profit defined by FAS 97.