Description: The NAIC is working with state insurance departments to replace the existing rules-based valuation laws with principle-based valuation laws. On the GAAP front, both the International Accounting Standards Board, which sets GAAP accounting guidance for many countries outside the United States, and the Financial Accounting Standards Board, which promulgates GAAP guidance in the United States, are moving toward a “current estimate” standard of valuation, which often results in a fair value or similar measurement basis. This article reviews the IASB’s discussion paper on insurance valuation and the American Academy of Actuaries’ response to it.

Description: Provides a comparison of methodologies between Actuarial Guideline 43 and C-3 Phase II RBC to help the practitioner calculate both RBC and reserves in an accurate but efficient manner.

Description: Article examines some of the shortcomings of Market Consistent Embedded Value reporting as it is currently constructed—particularly in periods of heightened volatility—and recommends some possible improvements that the CFO Forum is likely to consider.

Description: Feature article discussing the adoption of IFRS by most countries. Emphasis is placed on the number of accounting and actuarial organizations that have a say in the development of the rules and standards for IFRS.

Description: Feature article discussing uncertainty in insurance accounting.

Description: Article discussing the International Actuarial Association's meeting in November 2008.

Description: In light of the recent financial crisis, this article discusses whether Fair Value Accounting is a trouble maker or life saver.

Description: Feature article discussing the International Actuarial Association’s three-year Discount Rate Project.

Description: This article highlights features of the SOA's Regulatory Web Resource. The intent is to encourage greater use of the Resource among section members.

Description: Research is a primary mission of the Financial Reporting Section and a significant use of our section dues revenue. Here is an update, as of September 2017, on projects in process and those recently completed.