Financial Reporting Issues Relating to Reinsuranceentity. The functional currency is defined as the primary currency in which each entity conducts its business ... statutory and GAAP reporting. The standards will direct actuaries to consider all statement items in making ...
Description: Discusses statutory accounting variations, credit-for-reinsurance rules [surplus-relief regulation, security for unauthorized reinsurance, and mirror reserving], GAAP vs. statutory accounting, and an update on recent reinsurance-related activities of the AICPA and the American Academy of Actuaries. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.Hide
- Authors: Diane Wallace, John M Cole, Paul A Schuster, Thomas E Skillman
- Date: Jun 1988
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Reinsurance>Financial reporting for reinsurance