Description: The International Accounting Standards Board IASB is working to finalize reporting standards for insurance and investment products. Companies domiciled in European Union countries will be required to report financial statements under International Accounting Standards IAS in the near future. From Session 9PD of the 2004 Boston Valuation Actuary Symposium.

Description: 2003 Valuation Actuary Symposium, San Diego, CA. This panel imparted an understanding of the International Accounting Standards Board's work on finalizing standards for insurance investment products. Companies domiciled in European Union countries will be required to report financial statements under International Accounting Standards in the near future.

Description: Panelists at this session of the SOA 2003 Washington, DC Spring Meeting discuss the status of the most recent developments in international accounting standards including an update of the accounting for insurance products and practical implementation for Phase 1 conversion activities.

Description: New GAAP accounting rules require different reporting of long-duration liabilities, which include active life reserves for individual disability insurance policies. This session reviews the new GAAP rules and provides practical guidance for disability insurers in the implementation of these requirements.

Description: From a teaching session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Discussion of the actuarial aspects, methods, and considerations of reporting under FAS 60, FAS 97, and FAS 115. Examples and financial statement case studies are included.

Description: This presentation is a panel discussion, session number 25PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists discuss the current status of International Accounting Standards [IAS] or [IFRS] for insurance, including the timetable. The draft statement of principles, which is the current working document expected to form the final basis of an insurance standard going forward, is discussed. Noting that the International Accounting Standards Board [IASB] and the Financial Accounting Standards Board [FASB] are both working towards a fair value framework, the panelists discuss differences that may be expected between financial statements reported under IAS and under U.S. GAAP, and how current issues under discussion at the FASB could narrow or eliminate them over time. The American Academy of Actuaries fair value work and efforts by the International Actuarial Association [IAA] with respect to actuarial standards of practice under IAS are also covered. Discussion from participants is included.

Description: Panelists in session 13PD of the 2005 Valuation Actuary Symposium provide a brief overview of the emerging standards for investment and insurance, followed by a more in-depth discussion of key issues and recent developments.