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

Description: The American Academy of Actuaries will present on current initiatives that impact the U.S. statutory reserving methodology for non-variable annuity contracts. In particular, the development of a principle-based reserving framework on non-variable annuity contracts will be discussed, including framework elements, assumptions, and methodology. The session will provide an update on the status of regulatory discussions and the timeline for future changes to reserves. By the end of the session, attendees will understand what changes are being made to non-variable annuity reserves, details underlying existing proposals, and the anticipated timing of such emerging changes. This session is intended to the meet the needs of actuaries focused on annuity reserve calculations, financial reporting, and valuation.

Description: Read the September 2020 issue of The Financial Reporter published by the Financial Reporting Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.