The important distinguishing characteristics of insurance contracts are quite relevant to much of the discussion regarding insurance standards for insurance contracts.

The objective of this paper to present a general overview of a possible approach for the valuation of insurance liabilities and the capital requirements required as a consequence of the risk transfer from a policyholder to the insurer...

This document refers to sub-issue 11G of the IASC Insurance Issues paper and proposes a method to value risk-adjusted cash flows (refer to the IAA paper INSURANCE LIABILITIES - VALUATION & CAPITAL REQUIREMENTS, GENERAL OVERVIEW OF A POSSIBLE APPROACH, sections 2.2 and 2.3). The principles and...

The preliminary views of the Steering Committee in its Insurance Issues Paper (the IASC Paper) indicate that there has been significant disagreement within the Steering Committee as to whether to reflect expected investment margins in estimates of future cash flows related to the valuation of...

The IASC Insurance Issues Paper (the IASC Paper) mentions in a number of places the concept of market expectations regarding the expected value and corresponding adjustments for risk associated with the experience factors used in measuring the value of the liabilities of insurance contracts....

Three elements mentioned in paragraphs 191 and 192 of the IASC Insurance Issues Paper (the IASC Paper) provide an appropriate framework to examine the issue of the determination of the proper period over which the liability of an insurance contract (this does not apply to the liability for...

As mentioned in our response to sub-issue 7H of the IASC Insurance Issues Paper (the IASC Paper), the IAA agrees with the IASC Insurance Steering Committees tentative view as given in paragraph 357 that equalization provisions should not be recognized as a liability...

Paragraph 425 of the main text of the IASC Insurance Issues Paper (the IASC Paper) sets out the Steering Committees tentative view as follows:In the Steering Committees view, a prospective (policyholder benefit) approach is consistent with its view of a life insurance contract as a single set of...

Sub-issue 11I of the IASC Insurance Issues Paper (the IASC Paper) discusses whether the credit standing of the insurer should affect the measurement of its insurance liabilities. The following summarizes the major arguments (including significant counter-arguments) concerning this issue in a...

The proposals for determination of fair values of insurance contracts will require the application of sophisticated mathematical, statistical and modeling techniques.