Description: This paper illustrates a procedure for analyzing the sources of profit under FAS 97 and suggests an analytical procedure for reflecting actual experience and revised future assumptions in the recalculation of the estimated gross profit defined by FAS 97.

Description: This paper examines five alternative valuation methods - prospective, retrospective, global, intermediate, and static - for the proper application of GAAP to Medicare supplement insurance. The focus of this paper is on the changes to expected future claim costs due to changes in the Medicare deductibles.

Description: Updated discussion of IRS Proposed Regulations under Section 162(m)(6), their potential impact upon the life insurance industry, and a 2 percent de minimis exception.

Description: Earlier this year, the Securities and Exchange Commission informed one of its registrants that prospective unlocking of benefit reserves for long-term care LTC insurance was not an acceptable practice under current US GAAP. The purpose of this article is to make actuaries aware of this action and provide some additional context.

Description: Article discusses strategies to reduce book value fluctuations due to adoption of FAS 115 and their drawbacks.

Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: This dialogue discusses the history and purpose of section 811(a) and its historic role in the computation of life insurance company taxable income and, in particular, reserves.

Description: Variable Annuity DAC: A Survey of Current Practice by Laura J. Hay and Elizabeth Rogalin from The Financial Reporter, December 2002, Issue No. 51. Examines the DAC calculation for Variable Annuities and the possible write down of DAC under revised assumptions.

Description: Presented at May 1996 Spring Meeting. Presents an overview of conference co-sponsored by the SOA on fair value of insurance liabilities, including a comparison of some of the methods presented. A status update of recent industry and professional activities and what the future may hold for the use of fair value of insurance liabilities in insurance company financial statements is also provided.

Description: This paper reviews the process performed in the actuarial department at one company as an illustration of the process of complying with Sarbanes-Oxley. It also discusses costs and benefits.