Description: Presented at October 1985 Annual Meeting. This session discussion is about status of the revision of Recommendation 7, status of the Special Advisory Committee to the NAIC, principles for the valuation of life insurance companies, practical aspects of asset-liability matching.

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: Presented at May 1985 Spring Meeting. This session debates the following resolution - resolved: the actuary should be required to express an opinion in life insurance company statements regarding the valuation adequacy of projected future cash flows.