Description: The article discusses industry practices relating to US GAAP SOP 03-1 valuation for universal life with secondary guarantee products.

Description: December 2015 issue of The Financial Reporter

Description: This paper considers the question of whether the growth in the size of financial statements witnessed over the last several years has yielded an increase in the quality of disclosure around issues of financial risk and to what extent this disclosure is satisfying the perceived needs of readers of the financial statements, as represented by the investment analyst community.

Description: This presentation is an open forum, session 48OF, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. The panelists focus on emerging U.S. GAAP accounting issues, and the implementation issues encountered by affected companies. The panelists discuss Statement of Position [SOP] 03-1 on nontraditional long-duration life insurance contracts, the SOP on internal replacements, and the impact of the Derivatives Implementation Group issue B36 on embedded derivatives for modified coinsurance and funds withheld reinsurance. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 2.

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Presents questions to actuaries who are experts in the field of actuarial valuation of insurance company assets and liabilities.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 The session provides a brief overview of a variety of financial reporting topics, most of which were discussed in more detail in the subsequent sessions. The overview included topical issues as follows: • National Association of Insurance Commissioners NAIC Life and Health Actuarial Task Force developments and directions • Other NAIC/regulatory development • American Academy of Actuaries AAA/Actuarial Standards Board ASB developments • Financial Accounting Standards Board/Security Exchange Commission FASB/SEC and Generally Accepted Accounting Principles GAAP developments • Tax developments • Reinsurance development • Gramm-Leach-Bliley Financial Modernization Act

Description: This presentation is from session number 4, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. Noting that under U.S. GAAP, setting assumptions and accounting practices can have a significant impact on the earnings process [i.e., actual results, sources of earnings, and the earnings analysis process], the panelists address options available to the actuary for setting assumptions and defining practices for specific product types [both FAS60 and FAS97], the advantages, disadvantages, and practical considerations associated with each approach, and specific examples of the effect of the different approaches on earnings. Discussion from participants is included.

Description: This literature guide provides the user with a summary of representative sources of current general knowledge for continuing education purposes.

Description: Presented at May 1996 Spring Meeting. Panelists share experiences and discuss alternative approaches to various implementation issues related to mutual company GAAP conversions.

Description: This session is about meeting the needs for financial information in managing an insurance company. Topics include: 1. What are management's basic needs how are they met can financial systems continue to meet the challenge? 2. Are fundamental changes ahead for GAAP reporting? 3. Is it time for mutual companies to provide more meaningful financial information? 4. Can current regulatory reporting meet the needs of the 21st century? 5. Can separate statutory and GAAP systems continue to coexist? 6. Will the United States regulatory environment reduce our global competitiveness? 7. Variance analysis - Why your predictions were wrong - Which variances are acts of God? - Which variances should be blamed on somebody? - How to deal with interest rate fluctuations 8. Market valuation, why? - What questions are being addressed with market valuation

Description: Discusses: [1] the effects of Financial Accounting Standard No. 97 [FAS 97] on recoverability and loss-recognition issues, [2] interest-crediting strategy, ways and means of maintaining the planned interest spread, the effects of the various strategies on lapse experience, and the ultimate effect on recoverability of the deferred acquisition costs, and [3] premium-deficiency testing and the modification of interest, mortality, and expense margins to satisfy the question of loss recognition, or lack of the ability to recover the remaining deferred asset. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.