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Observations on Emergence of Earnings under US GAAP Targeted Improvements
By François Dauphin and William C. Hines
01 April 2019
The changes to the measurement and reporting of long duration insurance contracts will have a profound impact on the emergence and volatility of earnings under US GAAP. This paper illustrates the potential impacts of Accounting Standards Update 2018-12, Targeted Improvements for Long-Duration Contracts relative to current US GAAP accounting with respect to four blocks of business: level term insurance, single premium immediate annuities, long-term care insurance and universal life insurance.
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Observations on Emergence of Earnings under US GAAP Targeted Improvements
This paper illustrates the potential impacts of Accounting Standards Update 2018-12, Targeted Improvements for Long-Duration Contracts relative to current US GAAP accounting with respect to four blocks of business: level term insurance, single premium immediate annuities, long-term care insurance and universal life insurance.
François Dauphin, William Hines