Description: Chairperson’s column discussing the initiatives of the Financial Reporting Section for 2014.

Description: Quarterly update on regulatory trends of interest to financial reporting actuaries.

Description: Provide high level summary of changes to Valuation Rates for Payout Annuities and similar contracts.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: This article is an update, as of March 2019, on Financial Reporting Section sponsored projects in process and those recently completed.

Description: A description of KPMG's survey findings of 20 companies about principle-based reserving implementation.

Description: This article reviews why financial reporting controls are relevant to actuaries. It also discusses the impact of LDTI on controls and the strategic decisions that insurers need to make.

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.

Description: This article is aimed to cover the following: 1) Provides an assessment of income volatility under Long Duration Targeted Improvements (LDTI) for several key types of long duration contracts along with select illustrations, and compares against those under current GAAP, 2) Discuss areas where accounting policies or methodologies can influence income volatility, and 3) Show how a company's management reporting can be adapted to help explain income variances under LDTI.

Description: Adjusted earnings has long been a fundamental KPI for investors to assess the core financial performance of a company. As a non-GAAP measure, there is a divergence in practice of how individual companies define adjusted earnings and what activities management views as “core” to their business. The arrival of US GAAP LDTI has led insurers to revisit their existing adjusted earnings framework as the new standard introduces additional “accounting noise” that if left unadjusted obscures the true underlying drivers of performance. This article provides key insights on the influence US GAAP LDTI has had to the adjusted earnings calculation, highlights changes from the pre-LDTI framework, and showcases key themes observed from public insurers 2023Q1 10-Q filings.