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  • Draft SOP on Nontraditional Products: GMDB Reserve Requirements and Implications
    charging for administration versus what are your direct costs for administration and sales that are not ... subtract accumulated actual costs. The SOP does direct that this liability should not be less than zero; ...

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    • Authors: Louis Lombardi, David C Scheinerman, Karen DeToro
    • Date: May 2002
    • Competency: External Forces & Industry Knowledge>External forces and business performance
    • Publication Name: Record of the Society of Actuaries
    • Topics: Actuarial Profession>Standards of practice; Annuities>Variable annuities; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]