Description: This 60-minute panel discussion led by Academy volunteers will explore the treatment of reinsurance under the Valuation Manual's principles-based reserving (PBR) requirements for life insurance (VM-20). Panelists will discuss different reinsurance agreements, such as coinsurance, modified coinsurance, guaranteed and non-guaranteed yearly renewable term (YRT), stop-loss reinsurance, and financial reinsurance. The session aims to address practical reinsurance considerations for PBR in 2025, focusing on emerging issues such as reinsurance reserve credit and approaches for YRT reinsurance, and considering relevant ASOPs and updates to Practice Notes. Participants will gain insight into how different reinsurance structures affect VM-20 reserving.

Description: "Are you a health actuary affected by recent developments in business practices and accounting standards that have created situations in which you may be involved in estimating balances under accounting rules that differ from those typically used by insurers? In this session you will learn about situations where non-insurance accounting regimes may intersect actuarial practice, with an intended focus on two particular topics. One topic is general accepted accounting principles (GAAP) for insurance brokers under ASC 606 (Revenue Recognition) for commissions on Medicare Advantage and Medicare Supplement contracts, where the broker may get to recognize the expected value of all future commissions on a contract as revenue when the contract is placed. The other topic is GAAP under ASC 460 (Guarantees) in situations where a non-provider entity is bearing risk related to health care services, which can occur under the CMS Direct Contracting/ACO REACH model or under private sector care coordination contracts."

Description: This study is an update of a 2015 study that illustrates the differences that occur when measurement is made under different accounting bases. The observations come from research performed on two products (term life insurance and universal life insurance with secondary guarantees.

Description: An Update on International Accounting Standards for Insurance by Bruce Moore from The Financial Reporter, June 2000, Issue No. 42.

Description: Editorial highlighting outstanding articles in the Financial Reporter newsletter

Description: Feature article discussing the International Accounting Standards Board’s insurance contracts project.

Description: Read the December 2019 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: Read the June 2019 edition of The Financial Reporter published by the Financial Reporting Section of the Society of Actuaries. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Article from the chairperson of the Financial Reporting Section of the SOA on disruption and what it means to actuaries.

Description: Feature article discussing the isolated impact of changing the discount rate due to FASB changes.