Description: The SOA textbook related to US GAAP for insurers has been updated. It incorporates the recent GAAP changes, including Long Duration Targeted Improvements, and now covers both life and non-life insurers. This is an essential updated for anyone working with US GAAP financial statements, whether you are an actuary or other finance professional.

Description: This article highlights the fact that new requirements for disclosure of average liability duration and interest rates could lead to diversity in practice. It also recognizes that elements of the new disclosure requirements will enable financial statement users to perform their own crude estimates of these averages in ways that could help them to better understand the liabilities and to compare companies using consistent methods. Finally, the article describes how companies might also find value in such crude estimates.