Description: This article compares and contrasts existing and near future differences in fair value requirements between US GAAP and IFRS. The focus of this article is on fair value requirements as they relate to actuarial valuations of insurance contracts - including certain contracts classified as investment contracts, and therefore ignores implications on investments held by insurance companies.

Description: Feature article discussing the current International Accounting Standards Board IASB Exposure Draft ED. A model of 10 year level term life insurance is use to demonstrate the amortization of residual margin. Residual margin is to be set at issue as the amount which offsets any gain at issue that would otherwise be recorded after accounting for fulfillment cash flowd and an explicit risk adjustment.

Description: This article describes the draft guidance for the treatment of reinsurance by the IASB and FASB. It analyzes several alternative potential approaches to recognizing gains and losses from reinsurance from the perspective of the ceding company.