Description: This report, is an extension of the Society of Actuaries' November 2010 research project on the financial reporting effect of IASB’s exposure draft on the accounting of liabilities for term life and long term care insurance contracts to examine the effect on certain of these contracts to alternatives that have been discussed in treatment of discounting, expenses, and subsequent measurement of margins.

Description: This report summarizes the results of a research project undertaken by the Society of Actuaries to study the possible effects of the International Accounting Standards Board’s IASB Discussion Paper describing its Preliminary Views on Insurance Contracts on nine representative U.S. life, health and annuity products.

Description: This is the version of the SOA’s research report that appeared in the July 2008 issue of the Actuarial Practice Forum. This report presents modeling results of the possible impact of the IASB’s preliminary views of accounting for insurance contract liabilities on certain U.S. Life, health and annuity insurance products. This report presents comparisons of selected U.S. GAAP values to corresponding values of the proposed International Financial Reporting Standard IFRS results.