Description: This session at the 1998 Valuation Actuary Symposium examines Purchase GAAP accounting for life insurance acquisitions and identifies the major steps for implementing GAAP for acquisitions.

Description: In session 120IF of the Washington Annual Meeting panelists discuss latest developments related to Dynamic Financial Condition Analysis. From the Record of the Society of Actuaries, Vol. 23, No. 3.

Description: Panelists discuss: [1] the tax implication of NAIC changes to reserving requirements, [2] the new NAIC Valuation of Life Insurance Policies Model Regulation [Reg. XXX], [3] Actuarial Guideline 33 [AG 33], [4] AG 34, and [5] highlights of an actual IRS audit involving these NAIC actuarial guidelines and regulations. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: This session at the SOA 2001 Annual Meeting presents issues with the implementation of Regulation XXX including X-factor certification, development of an actuarial guideline for XXX, issues with certain policy designs, and UL products with prefunding of guarantees.

Description: This presentation, session number 5PD, took place at the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. This session focuses on the Generally Accepted Accounting Principles, ‘GAAP,’ methods and standards of practice applicable to accounting for purchase of a block of business. The panelists discuss working with investment bankers and others, presentation and determination of actuarial opening balance sheet items such as benefits reserves and present value of future profits, actuarial appraisal values, impact of synergies, management initiatives, expense savings, projection of GAAP profits, various accounting issues, and applicable Actuarial Standards of Practice. Discussion from participants is included. From the Record of the Society of Actuaries, Volume 26, No. 3. Possible keywords: VOBA=value of business acquired PGAAP=purchase GAAP accounting Actuarial appraisal

Description: This presentation was session number 32PD at the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. This session provides an overview of recent and potential developments and future developments in statutory reserving for life insurance products. Topics include Regulation XXX, variable and equity-indexed universal life reserves, state variations, tax considerations, offshore reinsurance, unified valuation systems, American Academy of Actuaries Extended Maturity Option Work Group developments, Actuarial Opinion and Memorandum revisions, new Commissioners' Standard Ordinary mortality tables, and trends in valuation interest rates and the Applicable Federal Interest Rates. Discussion from participants is included. From the Record of the Society of Actuaries, Volume 26, No. 3.

Description: This session discussion will look at how the industry has responded to the spirit and letter of Financial Accounting Standard FAS 97. From Record of the Society of Actuaries Vol. 15, No. 3A.

Description: 1999 SOA Annual Meeting, San Francisco. This panel examined the determination and use of the cost of capital for both stock and mutual companies. Topics covered included: 1. How to measure the cost of capital. 2. Use of cost of capital in choosing among options or setting an enterprise's direction. 3. Should different costs of capital be used for different purposes? 4. Options for financing and the effect on cost. 5. Maximizing return by proper mix of options. 6. Example of an acquisition. 7. Appropriate amount of capital. 8. International perspective.

Description: This panel discussion, which occurred at the May 1982 Society of Actuaries meeting in Colorado Springs, presented a discussion on developments related to Generally Accepted Accounting Principles- GAAP. The discussion included: FASB reformulation of audit guide, treatment of single premium deferred annuities, problems of applying GAAP principles to Universal Life, and a discussion of papers titled: a. A Policy-Year Model for GAAP Valuation of Coinsurance and Modified Coinsuranee, by David N. Becker and Michael V. Eckman and, b. GAAP for Nonguaranteed Premium Life Insurance, by Kriss Cloninger III.

Description: 1998 Valuation Actuary Symposium. Dynamic Financial Condition Analysis is analysis and sensitivity testing and stress testing. Stated another way it is measuring the ability of a company to support future operations. The panelists provided an update on recent Society research that has been done and examples in practice.