Description: Author, then the chief actuary of the New York State Insurance Department, discusses the appropriateness of certain assumptions used in the valuation of life insurer liabilities.

Description: Discusses adjusting statutory earnings using the natural reserve method.

Description: Discussion of the Buol Report, dealing with international solvency standards for life insurance companies

Description: This article discusses the June 23, 1977 Supreme Court ruling that a life insurance company must include the net valuation portion but not the associated loading of deferred and uncollected premiums in its assets and gross premium income as well as in its reserves in computing its tax liability. Some companies have been using this procedure or a modification of it for the past few years. Other companies have been filing returns conforming to IRS regulations which required including gross deferred and uncollected premiums. These companies may need to file amended returns for open tax years if they paid taxes not due or understated usable operations/loss carry forwards. The author then goes on to review the implications of the court’s decision for companies filing amended returns.

Description: The only indices set out in the Annual Statement are 1 the ratio of net investment income to mean assets in Exhibit 2, and 2 those ratios in Schedule H and the Accident and Health Policy Experience Exhibit the Exhibit. The impropriety of the Schedule H and Exhibit ratios as meaningful indicators is discussed below. It is assumed in the discussion that statutory accounting principles and considerations are operative, and the superiority of indices based on generally accepted accounting or economic value principles is not advanced. The statutory indices adjusted and unadjusted are used and referred to by regulators, industry groups, trade journals, and others. Thus, within the context of statutory accounting, the indices should be properly determined.

Description: A discussion of funding arrangements that can reduce the costs of providing medical coverage through lower reserves or state tax savings, instead of through cutting benefits.

Description: This article is about mutual life company statements being in conformity with GAAP.

Description: This articles discusses the questions - should statutory profits be discounted at an after-tax rate, or at a pre-tax rate?

Description: Derives two troublesome formulas in the Gain and Loss Exhibit of the Statement using techniques developed in Measurement of Mortality. The formulas in question are those for Tabular Interest.

Description: Discusses the importance of making tax-motivated investment decisions regarding one portfolio of a company within the context of the overall tax return of which the portfolio is a part, not necessarily on the tax effect of the portfolio alone.