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 article is dedicated to the non-statutory accounting treatment of common credit risk exposures of life insurers but does not cover all aspects of non-statutory accounting standards. It introduces the concept of and the valuation of credit risks, concerning life insurers.

Description: T3: TAXING TIMES TIDBITS

Description: GAAP's elimination of gross profit as a basis for amortization of deferred acquisition costs enables the accounting for reinsurance of universal life contracts to better reflect the economic protection provided by reinsurance. This article takes a fresh look at the standards of accounting for universal life contracts and for reinsurance, then puts them together to find the techniques that best account for that protection.

Description: An overview of how the VM-31 requirements for documenting PBR approaches and assumptions can/should reflect the Actuarial Standard of Practice on Modeling, ASOP No. 56

Description: This is the fourth 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 concerns that arise from the relationship between ceded reinsurance and the underlying contracts. Recognizing a lack of formal guidance addressing these concerns, the article aims mostly to achieve performance and simplicity objectives

Description: This article provides an update, as of October 2023, on Financial Reporting Section research projects in process and those recently completed.

Description: Author discusses how the proposed new AOMR will affect small companies.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: This article describes Solvency II, an overhaul of the European regulatory regime, and discusses the implications for reinsurers.