Description: This article examines the changes in U.S. regulatory reserve and risk-based capital requirements that will significantly impact the insurance industry and practicing actuaries. It summarizes activity related to principles-based reserves and risk-based capital initiatives during 2005.

Description: New York’s Regulation 126 effectively requires all companies doing business in New York to file an actuarial opinion and memorandum on their annuity and GIC business. This article attempts to answer 13 of the most commonly asked questions about this regulation.

Description: This article reviews the results for the 1997 Society of Actuaries 1997 fiscal year.

Description: This article describes the shortcomings of a rules–based valuation system and the benefits of a principles–based valuation system. It discusses the concerns that have arisen since the introduction of Canadian GAAP and Canada's current direction toward a principles-based valuation of insurance liabilities.

Description: This article discusses the potential issues with a company's surplus due to currency fluctuations.

Description: A summary of a preliminary report from the Committee on Valuation and Related Problems, on guidelines for quantifying balance sheet items in an insurance enterprise.

Description: This article discusses the need for more coordination and consistency in assumption setting between the pricing actuary, illustration actuary, appointed actuary, and financial reporting actuary.

Description: Discusses adjusting statutory earnings using the natural reserve method.

Description: In determining a company's general purpose financial statement earnings in conformity with the Audit Guide for Stock Life Insurance Companies the Audit Guide, it is necessary to consider what basis may be deemed appropriate for establishing claim reserves on health insurance policies. The bases for determining the other values taken into a general purpose financial statement have been considered elsewhere. This articel briefly considers the difference in reserves calculated for statutory reporting verses those same reserves calcualted for other purposes such as GAAP.

Description: Canada has been proactive in establishing governance frameworks for reinsurance transactions. Initiatives from individuals, the Office of the Superintendent of Financial Institutions OSFI and the Canadian Institute of Actuaries CIA have addressed concerns about and scrutiny of reinsurance transactions from worldwide securities and insurance regulators, rating agencies and the media. It is important to note that actuaries have played a vital role in identifying and developing these initiatives and will continue to have a major influence in further development of governance standards and in providing education. From The Actuary Magazine June 2007