Description: A summary of a recent U.S. District Court decision regarding the applicability of the Federal Excise Tax (FET) on foreign-to-foreign retrocessions.

Description: Article discusses recent changes in the IRS LB&I Division's examination practices and approach that may affect the work-flow of company actuaries and may present opportunities to resolve tax issues for companies

Description: September 2015 Reinsurance News

Description: A summary of a recent U.S. District Court decision regarding the applicability of the Federal Excise Tax (FET) on foreign-to-foreign retrocessions.

Description: Summarizes reaction to the new IFRS on insurance contracts

Description: This article examines a recent Technical Advice Memorandum (TAM 201149021) in which the IRS concluded that residual value insurance was not insurance for tax purposes. The article questions the TAM's analysis and argues that the accounting regime applied produced a distortion in the insurer's income.

Description: Financial Reporting for Healthcare Plans objectives, defining market segments, preparing & recasting segment monitoring reports, quantification of liabilities, reconciliation of claim payments, medical management reports, expense control, company plans & projections & budgets, financial indicators & measurements. Issue No. 41.

Description: This paper addresses the classification of products according to their accounting standards: SFAS 60 for traditional products, SFAS 97 for interest sensitive products, and SOP 95-1 for participating products. In particular, the question of which products should be classified under the Statement of Position will be addressed. In addition, it will be shown that if a product's dividend formula passes on to the policyholder significantly less than a full asset share an over-reserving problem will occur if the Statement of Position is used as the accounting system.

Description: At the November meeting of the IASB’s SAC, I raised strong support for the concept of a priority project to accelerate the development of a new conceptual framework for the IASB with emphasis on the role of reliability, the definition of liability, the meaning of probable, the effects of contingencies i.e. contingent probabilities, the unit of account and accounting for contractual rights and obligations. Editor’s note: This is an excerpt from a longer address to the International Accounting Standards Board on guiding principles.

Description: A review of Life Insurance Accounting, a reference work by twenty three authors under the direction of the Insurance Accounting and Statistical Association, IASA.