Description: This article gives the highlights of the 88-page report including detailed assumptions for products including universal life with secondary guarantees (ULSG), cash accumulation universal life (CashAccum), current assumption universal life (CAUL), indexed universal life (IUL) and variable universal life (VUL). The 29 companies and 83 products represented in the report allow for an interesting perspective on premium persistency assumptions used in pricing, cash flow testing (CFT) and generally accepted accounting principles (GAAP)/international financial reporting standard (IFRS) functions. This article covers some general results and ULSG-specific results.

Description: Practical Considerations for Implementing the New Statement of Position for Long Duration Contracts and Separate Accounts .

Description: There is often a disconnect between the way products are priced IRR and embedded value methods and the way business performance is measured once it is already on the books GAAP and GAAP ROE. This article discusses the theoretical reasons for this disconnect and how an accounting system could be developed to eliminate the disconnect and thereby align investor and management expectations with the financial reporting system.

Description: New GAAP Guidance Likely to Be Promulgated for Non- Traditional Products and Separate Accounts by David C. Scheinerman and Mary S. Saslow from The Financial Reporter, September 2001, Issue No. 47

Description: Purchase GAAP for Equity-Indexed Annuities

Description: A review of Section 404 of the Sarbanes-Oxley Act, including a review of the need for life and health insurance actuaries to review and, in most cases, substantially strengthen their internal controls over financial reporting.

Description: Treasurer’s Report of the Financial Reporting Section of the Society of Actuaries—2001

Description: This article provides a discussion of the manner in which actuaries have implemented the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2010-26, Accounting for Costs Associated With Acquiring or Renewing Insurance Contracts, for purposes of disclosure statements in conjunction with the Dec. 31, 2011 US GAAP financial statements

Description: Column from section chairperson describing upcoming events pertinent to the Financial Reporting Section.

Description: Under the leadership of recent and current Section chairs, your Council has committed to creating a new textbook on U.S. GAAP for life insurance company actuaries.