Description: Since the issuance of IFRS 17 in 2017, the global insurance accounting standard, insurers across the globe have been making huge investment in assessing the impact and implementing the new standard. In late 2018, FASB issued ASU 2018-12 that revises key elements of the U.S. GAAP measurement models and disclosure requirements for long-duration contracts issued by insurers (also called FASB Targeted Improvements). Both standards are becoming effective 1/1/2021 (though IFRS 17 may potentially be deferred by a year). U.S. insurers that have international parents or subsidiaries, and report under a multi-GAAP environment will likely have to adopt both standards. By now most insurers should have nearly completed impact assessment for IFRS 17, designed road map for or have started the implementation journey. With the new U.S. GAAP requirements becoming effective concurrently, it is important to embark on the implementation journey with both standards in mind, and maximize the synergy to achieve cost-saving and design efficiency. This session will briefly introduce the two standards with a conceptual comparison, along with a discussion on where efficiency and synergy can be achieved in a concurrent implementation.

Description: This article discusses the causes of the 1918 influenza pandemic, the reasons it occurred and the likelihood that it could happen again. In addition, the author discussed ways, in general, to model and manage risks that occur infrequently, yet have a significant impact.

Description: In this article, the outgoing chairperson recaps his year in office.

Description: Newsletter editor discusses new features in this issue.

Description: The editor discusses the winner of this year's Country Feature Competition, highlights of the International Congress of Actuaries meeting in Cape Town, the expanded Ambassador's Corner and encourages all to vote for the SOA leadership.

Description: Introductions of new International Section ambassadors to Japan, the Gulf region and Israel, along with their biographical information and 2010-11 work plans.

Description: Background on IACA and its activities.

Description: Chairman's corner for the September 2016 International News

Description: An introduction to insurance market in french speaking subsaharan market known as CIMA. Governance,dynamics, microinsurance and actuarial profession challenges.

Description: Presented at Living to 100 symposium, January 2002. This paper proposes a standard operating procedure for testing the Gompertz assumption using yearly age-specific mortality data, and the impacts of the data collection period and population sizes on the testing results are discussed.