Description: This is an update, as of July 2020, on projects in process and those recently completed sponsored by the Financial Reporting Section.

Description: Summary of the SOA's research report Modern Deterministic Scenarios for Interest Rates, which developed interest rate scenarios for use in cash flow testing.

Description: Risk adjustment is needed under IFRS 17 to reflect the compensation that a company requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk. Companies are also required to disclose the method and confidence level used for the calculation of the RA. However, IFRS 17 doesn’t specify a method and a confidence level, nor does it provide a list of specific risks that are considered to be non-financial risk. Companies need to define them based on their own preferences or existing practices. This article will introduce available approaches and discuss the confidence level approach with potential consideration stemming from industry preferences and illustrative examples.

Description: This article is an update, as of September 2019, on projects in process and those recently completed.

Description: FASB's Statement of Financial Accounting Standards No. 97 contains wide-sweeping changes to the preparation of GAAP financials for insurance companies. The focus of this article will be on the ramifications of the interest rate FASB has decided to use to amortize deferred acquisition costs.

Description: The Actuary Vol. 22, No. 2. This article discusses how the the choice of basis for measuring Interest Rate Spread impacts pricing and accounting for interest sensitive products.

Description: The Financial Accounting Standards Board FASB and the International Accounting Standards Board IASB issued “The Norwalk Agreement” in October 2002, a memorandum of understanding that reaffirmed their commitment to develop a single set of high quality accounting standards. At that meeting the two standard setters agreed to place a high priority on three steps toward achieving that goal.

Description: This article is dedicated to the non-statutory accounting treatment of common credit risk exposures of life insurers but does not cover all aspects of non-statutory accounting standards. It introduces the concept of and the valuation of credit risks, concerning life insurers.

Description: Editorial highlighting outstanding articles in the Financial Reporter newsletter

Description: This article describes Solvency II, an overhaul of the European regulatory regime, and discusses the implications for reinsurers.