Description: With coinsurance of an existing block of long-duration insurance contracts, there may be existing reinsurance that remains in force. The new coinsurance is typically net of such “inuring reinsurance.” In this article, we look at approaches that the new reinsurer might apply to account for the effects of inuring reinsurance.

Description: A description of a new method for deriving PBA prudent estimate assumptions from company experience.

Description: A dialogue on purchase accounting for insurance business combinations under China-GAAP from an actuarial perspective.

Description: Message from Financial Reporting Section Chairperson informing section members what section activities lie ahead in the upcoming year.

Description: This article is designed to provide a statistical method for reviewing the accuracy of the incurred but not reported IBNR life claim liability estimates from prior points in time.

Description: Feature article discussing uncertainty in insurance accounting.

Description: An update on the latest actions of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

Description: This article provides an overview of the impact of the revisions to the Standard Valuation Law adopted by the NAIC in 2009 on accident and health insurance.

Description: Thoughts on the future of financial reporting.

Description: S&P reissued a second Request for Comment (RFC) in May 2023 that proposed changes to their insurer capital adequacy methodology and assumptions, and suggested these proposed changes may become effective at the end of 2023. This paper is to highlight the notable changes between the current capital model criteria and the proposed model. We also discuss major changes from the first RFC and the second RFC, as well as several key items that still require enhanced guidance and clarification. Our analysis is based on information gathered from S&P's public comments, conversations with industry participants, and publications released by S&P Global as of July 2023 when this paper was written. Most U.S. life insurers are rated by S&P using their U.S. Life Statutory Capital model, while other insurers use the GAAP/IFRS Capital Model. Statutory financials will remain the starting point for U.S. life insurers under the proposed model, however there will be additional adjustments made to these numbers in an effort to create consistency and comparability with other accounting and solvency regimes.