Description: View the complete issue for the August 2014 Reinsurance News newsletter.

Description: An expedient method for calculating compound market risk benefit attributed premium factors under targeted improvements

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: Discussion of FASB's recent activity on relevant projects other than insurance contracts, particularly financial instruments, fair value disclosures and goodwill impairment.

Description: This article will focus on introducing where IFRS17 differs from US GAAP conceptually, and key aspects of this paradigm shift from actuaries’ perspective.

Description: Article describing an exposure of a practice note titled, “Treatment of VOBA, Goodwill, and Other Intangible Assets under PGAAP.”

Description: Actuaries are accustomed to considering how much conservatism is appropriate in their estimates, whether made for pricing or for mea- surement of liabilities. In the proposals for a new standard on accounting for insurance contracts, this conservatism is referred to by the International Accounting Standards Board IASB and the Financial Accounting Standard Board FASB of the United States as the risk adjustment.

Description: This session is a discussion about 1 Actuarial certification of statutory statements, 2 GAAP for mutual companies, and 3 use of interest in amortizing acquisition expenses.

Description: 1998 Valuation Actuary Symposium. The speakers discussed dissecting and rearranging GAAP financials to provide more meaningful information and a comparison of the FAS 60 format of reporting earnings to a source-of-earnings format.

Description: Accounting Standards Update (ASU) 2018-12, commonly referred to as long duration targeted improvements (LDTI), is the most significant GAAP accounting change impacting the life insurance industry in the past 40 years. This article discusses the impact of LDTI on variable annuities (VA) and fixed indexed annuities (FIA) from a product development and in-force management angle. Detailed discussion topics include hedging and ALM, product strategy and development, and pricing. LDTI will cause many VA and FIA writers to re-evaluate their hedging and asset liability management (ALM) strategy following the move to fair value accounting under the new MRB requirement. Stakeholder appetite for accounting volatility and resulting changes to hedging and ALM may trigger changes in product mix and designs. In addition to updating pricing infrastructure to handle the new requirements, pricing actuaries will need to produce analyses to educate stakeholders on the risks and pricing implications of any changes to designs, hedging and ALM.