Description: This session at the 1998 Valuation Actuary Symposium examines Purchase GAAP accounting for life insurance acquisitions and identifies the major steps for implementing GAAP for acquisitions.

Description: This paper presents a policy-year model for GAAP valuation of reinsurance accepted on the coinsurance and modified coinsurance bases. Also presented are the interrelationships between the model's methodology and statutory accounting procedures, a discussion of experience-refunding situations, and a demonstration of the model's ability to yield GAAP profits as a level percentage of premium. From Transactions of Society of Actuaries 1981, Vol. 33.