Description: After a summary of FASB decisions in their GAAP Targeted Improvements project, this article describes several issues that will need to be resolved either by the board or in actuarial practice and argues for seeking solutions that provide meaningful results without overly complicating valuation processes.

Description: Presentation of formulas for measuring the effects of experience variances and assumption changes on traditional contract DAC and benefit reserves under GAAP targeted improvements (ASU 2018-12).

Description: Article describing an exposure of a practice note titled, “Treatment of VOBA, Goodwill, and Other Intangible Assets under PGAAP.”

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

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.

Description: Continued look at unlocking of traditional contract valuation assumptions, this time examining the frequency of true up for actual experience.

Description: This is the second in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at GAAP, as amended by LDTI, as if there were no precedent, specifically focused on products that require net premium reserves. With possible objectives for compliance, performance, and simplicity, it describes calculation techniques that could achieve all three objectives for a variety of long-duration reinsurance contracts.