Description: This is the traditional life excel spreadsheet example from this presentation on GAAP for traditional products under FAS60. This was part of the U.S. GAAP & IFRS: Today and Tomorrow conference held in New York in September of 2010.

Description: Summarizes financial reporting regulatory developments from April - June.

Description: Feature article describing the saga of the IASB’s and FASB’s joint Exposure Draft on Insurance Contracts.

Description: Feature article discussing IFRS 17 and its implications.

Description: The 2020 edition of the Valuation Manual permits mortality data aggregation thereby enhancing credibility but also has accompanying requirements and addresses calculation of company experience rates.

Description: LDTI’s introduction has forced many insurers to examine their existing operations and technologies. They must determine how to optimize compliance efforts while balancing data, analytics and system modernization considerations to achieve maximum value. This article will examine the four key facets—the data, technology, processes, and people—essential to any successful LDTI exercise. It will also touch on the various approaches for tackling LDTI and how a modernization mindset can help insurers realize much greater transformation for the business.

Description: The Society of Actuaries Financial Reporting Section is pleased to make available a new report examining the International Standards Board’s (IASB) Re-Exposure draft, Insurance Contracts, issued in June 2013. Performed by Rodrigo Careaga, Tara Hansen, Asad Khalid, and Bruce Rosner of Ernst & Young LLP, this study illustrates differences in earnings emergence for new business projections between current US GAAP and the proposed standard for a sample of 12 products. Additionally, it shows the impact on earnings emergence of various sensitivity tests.

Description: This project examines how companies perform deterministic scenario analysis, focusing on a worldwide IT disruption and its operational impacts. It highlights the use of table-top exercises to estimate direct and indirect effects, leveraging senior managers' experience.

Description: This article provides the reader with some insights regarding tax planning under the new required methodology.

Description: Read the February 2020 issue of Taxing Times, published by the Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.