Description: This article gives an update on the Financial Reporting Section on upcoming developments, education and section work in 2012.

Description: Feature article discussing what it means to be market-consistent and whether or not insurance products can be priced and valued in a market-consistent fashion. This article addresses the limits to market consistency by questioning whether there in fact can be a market-consistent level annual premium for a term life insurance contract.

Description: This is the third in a series of articles about revenue recognition for insurance contracts. The articles address revenue recognition for those contracts that are measured by the building blocks approach under the emerging new standards for insurance that are being developed by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) of the United States.

Description: Chairperson’s column discussing the latest initiatives of The Financial Reporting Section of the Society of Actuaries.

Description: The article briefly discusses the modeled reserve concept being developed by the Annuity Reserve Working group, and goes on to suggest certain potential refinements to the scenario generation process. The approach may substantially diminish the work involved from a stochastic generation process and provide more appropriate results as well.

Description: Financial Reporting Section Council Chairman thanks prior council members and lays out agenda for 2016

Description: This article provides a brief overview of IUL US GAAP financial reporting practices and expands on the following three survey findings: 1. Over 70% of participants use simplified FAS 133 approaches to calculate IUL GAAP liabilities 2. Full-blown FAS 133 approaches have not converged 3. US GAAP creates the most significant financial reporting challenge for IUL

Description: This article compares earnings emergence under five popular world-wide accounting bases for two insurance products, term life and fixed deferred annuity.

Description: Examination of full surrender and benefit utilization industry experience for Variable Annuities with and without Guaranteed Lifetime Withdrawal Benefits. Part 1 of 3 articles focuses on full surrenders and building a dynamic surrender function using predictive modeling tools.

Description: A discussion of regulatory oversight of PBR with two former regulators to give some insight into how your company should be preparing for new PBR requirements.