Description: Earlier this year, the Securities and Exchange Commission informed one of its registrants that prospective unlocking of benefit reserves for long-term care LTC insurance was not an acceptable practice under current US GAAP. The purpose of this article is to make actuaries aware of this action and provide some additional context.

Description: Discussion of FASB's June 2018 meeting on accounting for targeted improvements for long-duration insurance contracts and summary of the decisions to date

Description: This article compares and contrasts existing and near future differences in fair value requirements between US GAAP and IFRS. The focus of this article is on fair value requirements as they relate to actuarial valuations of insurance contracts - including certain contracts classified as investment contracts, and therefore ignores implications on investments held by insurance companies.

Description: The use of Other Comprehensive Income OCI is receiving its moment in the sun. It is being considered for housing some of the earnings volatility in the International Accounting Standards Board IASB current approach to measuring insurance contracts’ performance.

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

Description: Variable Annuity DAC: A Survey of Current Practice by Laura J. Hay and Elizabeth Rogalin from The Financial Reporter, December 2002, Issue No. 51. Examines the DAC calculation for Variable Annuities and the possible write down of DAC under revised assumptions.

Description: Discussion of how meaningful GAAP ROE is as a measurement of management performance or how well management has deployed capital over a reporting period.

Description: This article will focus on introducing where IFRS17 differs from US GAAP conceptually, and key aspects of this paradigm shift from actuaries’ perspective.