Description: This article demonstrates that the alternative method of adjusting DAC amortization for actual experience fails to serve its purpose if amortization is based on amounts in force at the end of a reporting period. In that situation, the method would increase the amortization rate for excess terminations. Applying that increased rate to a lower basis, however, does not reliably reduce the unamortized DAC balance as required.

Description: A pension actuary and a life actuary collaborate to express public pension liability and asset issues in terms and figures that an insurer would use

Description: Canterbury Tales of Fair Value Fair Value of Life Insurance Seminar—March 1999 by Mike McLaughlin & Joan Lamm-Tennant, Ph.D. from The Financial Reporter, October 1999, Issue No. 40.

Description: Why More U.S.A. Life Insurance Companies Are Considering Economic Value as an Additional Internal Accounting System by Armand de Palo from The Financial Reporter, December 2001, Issue No. 48.

Description: Editorial highlighting outstanding articles in the Financial Reporter newsletter

Description: In September 2005, the AICPA issued SOP 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts. The SOP provides accounting guidance for DAC on internal replacements of insurance and investment contracts other than those specifically mentioned in FAS 97. Article discusses implementation issues.

Description: Feature article about the transitioning of life insurance products to RBC C3 Phase III.

Description: Feature article discussing quantitative impact studies, QIS5, on Solvency II.

Description: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.

Description: This newsletter article provides an update, as of December 2024, on Financial Reporting Section sponsored research projects in process and those recently completed.