Description: In September 2005, the AICPA issued SOP 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts. The SOP provides accounting guidance for DAC on internal replacements of insurance and investment contracts other than those specifically mentioned in FAS 97. Article discusses implementation issues.

Description: Article describes the importance of reading, following, and commenting on ASOPs

Description: Demutualization: Filling the “GAAP” in Accounting by Darryl G. Wagner and Patricia E. Matson from The Financial Reporter, February 2000, Issue No. 41.

Description: A description of how auditors or examiners can evaluate whether PBR reserves are adequate and reasonable.

Description: Feature article discussing the use of fair value or market consistent measurement for the valuation of insurance liabilities.

Description: Adopted by the NAIC on October 14, 2005, the new RBC C3 Phase II requirements were effective for year-end 2005. The regulation requires either a factor approach - the “Alternative Method” - or a stochastic modeling approach subject to a minimum Standard Scenario requirement for determining the C3 component of risk-based capital for variable annuities. This article summarizes the results of a survey on insurers' approach to this for year-end and their results.

Description: Describes why actuarial standards of practice (ASOPs) are so important, and encourages practitioners to read them and comment on them.

Description: Feature article discussing how activity with respect to Solvency II is increasing in the United States.

Description: Achieving Balance by Tricia Matson from The Stepping Stone Newsletter, July 2004, Issue No. 15.

Description: This article compares and contrasts existing and near future differences in fair value requirements between US GAAP and IFRS. The focus of this article is on fair value requirements as they relate to actuarial valuations of insurance contracts - including certain contracts classified as investment contracts, and therefore ignores implications on investments held by insurance companies.