Description: The purpose of this session is to review and discuss the principles and guidelines published and/or under consideration within the accounting and the actuarial professions regarding the restatement of GAAP financial of a life company acquired in a transaction to be accounted for as a purchase transaction under SPB 016. Our purpose is also to review with you some of the specific approaches that have been taken, and the problems that have developed, in implementing purchase-GAAP in practice. From Record of the Society of Actuaries 1979, Volume 5, No. 1.

Description: This paper describes current approaches for determining an actuarial appraisal value of a life insurance company, proposes a new approach for a more appropriate actuarial valuation and examines the differences between the twor methods. A discussion of the paper follows. From Transactions of Society of Actuaries 1978, Vol. 30.