Description: US GAAP for Life Insurers chapter 19 spreadsheets showing various financial statement presentations such as Balance Sheet, Income Statement, Cash Flow Statement, DAC exhibit, Statutory and GAAP reserves, etc. These are shown for a number of product types from Participating Whole Life to Diability Insurance. Please see the book US GAAP for Life Insurers for further details on US GAAP accounting.

Description: US GAAP for Life Insurers chapter 11 spreadsheets showing the development of the GAAP accounting items for credit insurance. Please see the book US GAAP for Life Insurers for more details on US GAAP accounting

Description: In this article, we collected data from the companies’ roll-forward disclosures related to calendar years 2021 and 2022 on Market Risk Benefit and shared a high-level summary of the Market Risk Benefit volatility that a focus group of companies incurred and summarized the most common ways to mitigate volatility.

Description: This paper reviews the process performed in the actuarial department at one company as an illustration of the process of complying with Sarbanes-Oxley. It also discusses costs and benefits.

Description: Review of FASB's proposed "Targeted Improvements" to long duration insurance accounting and how they will impact valuation processes for Long Term Care.

Description: The impact of bond default risk on retirement benefit obligations describes how the probability default on a bond is similar to the probability of death for an annuitant. Bonds are used to cash flow match retirement obligations cash flows to funding from bond. Just as the probability of non-payment happens on the liability side, we can do the same with selected bonds. The end result may be an adjustment to the discount rates used.

Description: Feature article discussing ASU 2010-26: the new Financial Accounting Standards Board FASB guidance which changes the definition of costs related to the acquisition of new and renewal insurance contracts that can be capitalized.

Description: The latest draft ORSA Guidance Manual was released on Oct. 14, 2011. An overview of the requirements from a qualitative, quantitative and governance perspective was provided in the December edition of the Financial Reporter. Several trade associations and com- panies commented on the draft.

Description: Actuaries are accustomed to considering how much conservatism is appropriate in their estimates, whether made for pricing or for mea- surement of liabilities. In the proposals for a new standard on accounting for insurance contracts, this conservatism is referred to by the International Accounting Standards Board IASB and the Financial Accounting Standard Board FASB of the United States as the risk adjustment.

Description: FASB decisions made regarding potential changes to US GAAP accounting that differ from corresponding IASB decisions, causing the potential accounting changes.