Description: This paper discusses three methods for the amortization of deferred acquisition expenses, DAC and the results when actual experience differs significantly from that assumed. The methods include a static approach with prescheduled amortization, a dynamic technique called the expense reserve factor method, and an aggregate or accumulated premium revenue method. A discussion follows the paper. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper develops a tool that may be useful in explaining the differences between earnings that are reported under GAAP and profits that are expressed as an internal rate of return.

Description: This paper attempts to develop an actuarial rationalization for the governance of a mutual life insurance company. It addresses setting surplus targets, long term growth objectives, internal performance accounting, and mergers and acquisitions. A discussion of the paper follows. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: Existing actuarial literature does not provide a consolidated comparison of the available alternatives for accounting for universal life. This paper will analyze the similarities and differences between the existing prescribed method and the proposed alternatives. From Transactions of Society of Actuaries 1987, Vol. 39.