Description: In this article, we collected data from the companies’ roll-forward disclosures related to calendar years 2021 and 2022 on Market Risk Benefit and shared a high-level summary of the Market Risk Benefit volatility that a focus group of companies incurred and summarized the most common ways to mitigate volatility.

Description: This open forum at the SOA 2004 Annual Meeting focuses on emerging U.S. GAAP issues and the new Statement of Position [SOP] with emphasis placed upon implementation issues, purchase GAAP accounting, and replacements or policy changes.

Description: This session at the SOA 1990 Hartford Spring Meeting is about mutual company GAAP including defining what GAAP means for mutual companies, contrasting it with stock company GAAP, and discussing implementation issues. Alternative Minimum Tax is also discussed.

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: Excel spreadsheet showing a FAS 133 numeric example from this session of the 2010 U.S. GAAP & IFRS conference held in New YorkProduct.

Description: US GAAP for Life Insurers chapter 7 spreadsheets. Spreadsheets demonstrate cashflows for single premium deferred annuity under SFAS91. Please see the book US GAAP for Life Insurers for full detail on US GAAP.

Description: US GAAP for Life Insurers chapter 4 spreadsheet. This spreadsheet shows the development of GAAP Profit/Loss statements along with benefit reserves and DAC and assumptions for several life insurance products such as 10 year endowment and 20 year term. Please see the book US GAAP for Life Insurers for full detail on US GAAP accounting.

Description: This session is targeted for new ASAs/FSAs or actuaries who are new to reserving. The session will be delivered in two parts. The first part is intended to deliver a basic understanding of IBNR reserving and different reserving methods and assumptions. We will go through examples of constructing claims triangles and developing completion factors, while exploring concepts such as seasonality, trend and outlier claims. During the second part of the session, we will apply the material from the first part to look at various example from different products such as inpatient, outpatient, RX, Medicare Supplement, dental, critical illness, etc.

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: This article discusses key considerations and differences in measurement requirements between IFRS 17 and LDTI, leveraging a term insurance example to illustrate potential impacts on liabilities and, ultimately, earnings emergence.