Description: This is the first in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It provides an introduction to the topic, giving an overview of what has and hasn't changed. Changes include a few that directly address reinsurance and others that indirectly result from changes to direct accounting and the existing ties between reinsurance and direct accounting.

Description: US GAAP for Life Insurers chapter 11 spreadsheets showing the development of the GAAP accounting items for credit insurance. Please see the book US GAAP for Life Insurers for more details on US GAAP accounting

Description: US GAAP for Life Insurers chapter 6 spreadsheets. Various spreadsheets illustrate a Universal Life product and the various accounting needs under SFAS97 including DAC and Unearned Revenue Reserve amortization and assumption unlocking. Please see the book US GAAP for Life Insurers for full details on US GAAP accounting.

Description: US GAAP for Life Insurers chapter 16 spreadsheet showing development of the GAAP DAC and Reserve for a non-US product. Also shown are cashflows and profits. Please see the book US GAAP for Life Insurers for further details on US GAAP accounting.

Description: US GAAP for Life Insurers chapter 19 spreadsheets showing various financial statement presentations such as Balance Sheet, Income Statement, Cash Flow Statement, DAC exhibit, Statutory and GAAP reserves, etc. These are shown for a number of product types from Participating Whole Life to Diability Insurance. Please see the book US GAAP for Life Insurers for further details on US GAAP accounting.

Description: This is the table of contents for the book entitled 'US GAAP for Life Insurers - Second Edition'.

Description: US GAAP for Life Insurers chapter 11 spreadsheets showing the development of the GAAP accounting items for credit insurance. Please see the book US GAAP for Life Insurers for more details on US GAAP accounting

Description: In this article, we collected data from the companies’ roll-forward disclosures related to calendar years 2021 and 2022 on Market Risk Benefit and shared a high-level summary of the Market Risk Benefit volatility that a focus group of companies incurred and summarized the most common ways to mitigate volatility.

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: Excel spreadsheet showing a FAS 133 numeric example from this session of the 2010 U.S. GAAP & IFRS conference held in New YorkProduct.