Description: From a session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 This open forum addresses current issues of interest to actuaries in the application of U.S. GAAP. Topics discussed include demutualization issues, draft standards of practice regarding nontraditional long-duration contracts, guaranteed minimum death benefits/living benefits, sales inducements, separate accounts, business combinations and FAS 141/142 and policy conversions and exchanges. Discussion included theoretical and practical aspects.

Description: Article discussing how U.S. insurance company financial reporting will undergo an unprecedented level of change within the next several years, including a convergence of US GAAP with international accounting standards. Communication to the public issues are emphasized

Description: View the complete issue for the August 2014 Reinsurance News newsletter.

Description: December 2015 issue of The Financial Reporter

Description: If you’ve been reading my columns for a while, you have no doubt recognized that I tend to be consis- tently optimistic when it comes to the insurance contracts project meeting deadlines. I am constantly disappointed as the International Accounting Standards Board IASB and Financial Accounting Standards Board FASB fail to meet their own deadlines for producing exposure drafts or other papers. But this time is different.

Description: Review of modeling of impact of proposed GAAP changes and commentary on preparedness based on company survey.

Description: Financial Reporting Section March, 2012, newsletter.

Description: Feature article discussing the changes the International Accounting Standards Board’s new accounting standard will bring.

Description: Discusses: [1] the effects of Financial Accounting Standard No. 97 [FAS 97] on recoverability and loss-recognition issues, [2] interest-crediting strategy, ways and means of maintaining the planned interest spread, the effects of the various strategies on lapse experience, and the ultimate effect on recoverability of the deferred acquisition costs, and [3] premium-deficiency testing and the modification of interest, mortality, and expense margins to satisfy the question of loss recognition, or lack of the ability to recover the remaining deferred asset. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.

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.