Description: This article is a summary of Darrell Laird's paper in T.A.S.A. 50, The Revenue of the Period of Account and Its Relation To Premiums, Valuation and Dividents. Mr. Laird saw 3 problems, 1 finding a comprehensive way to measure a life company's real performance, 2 displaying sale and administrative expenses revealingly to management and 3 distributing surplus equitably among holders of individual policies.

Description: FASB's Statement of Financial Accounting Standards No. 97 contains wide-sweeping changes to the preparation of GAAP financials for insurance companies. The focus of this article will be on the ramifications of the interest rate FASB has decided to use to amortize deferred acquisition costs.

Description: The Actuary Vol. 22, No. 2. This article discusses how the the choice of basis for measuring Interest Rate Spread impacts pricing and accounting for interest sensitive products.

Description: This article describes the new state of Washington regulation governing replacements noting problems with the formula used and offering improvements.

Description: This article describes the effect of different valuation interest rates and levels of surplus on income tax paid by life insurance companies via Phase 1 of the Federal Income Tax Act of 1959.

Description: This article poses the question, why doesn't the teaching of life contingencies start with the premise that the rate of investment income is a random process in a similar manner to the random nature of the time until death? The article suggests some methods for doing so.

Description: The Actuary Vol. 22, No. 3. This article discusses how the advantages of the General Agency system which existed prior to the 1970s have diminished materially. Therefore, European companies should be very cautious with any attempts to emulate the North American-type agency distribution system of the late 1980s.

Description: This article compares computing a single premium for a decreasing term policy using continuous functions versus curtate functions.

Description: This article discusses the calculation of mean reserves in certain cases where terminal reserves are negative and proposes a minimum reserve formula which produces adequate mean reserves in all cases.

Description: The Actuary Vol. 22 , No. 7. This articles explores the dangers posed by many guaranteed-return life insurance and annuity products.