Life Financial Reporting Committee

The Life Financial Reporting Committee proactively provides actuarial advice and communication on life insurance topics that involve financial reporting matters, with an emphasis on GAAP and IFRS issues. It also coordinates activities, as appropriate, with the Life Valuation Subcommittee and the RMFRC's Financial Reporting Committee.


Staff liaison: Ian Trepanier

Chairperson: Katie Cantor
Vice Chairperson: David Ruiz
Rodrigo Careaga
Thomas Chamberlain
Sophia Dao
Bruce Fuller
Gregory Goulding
Tara Hansen
Nelson Lum
Joseph Rafson
Christopher Strom
Duncan Szeto

Related Publications

Academy Senior Life Fellow Nancy Bennett and Senior Casualty Fellow Jim MacGinnitie presentation to the Financial Stability Oversight Council (FSOC) on regulatory capital requirements for U.S. insurers. (December 11, 2015)
The Financial Reporting Committee, Pension Accounting Committee, Casualty Committee on Property and Liability Financial Reporting, Health Financial Reporting and Solvency Committee, and Life Financial Reporting Committee comments on the Public Company Accounting Oversight Board’s (PCAOB) “The Auditor's Use of the Work of Specialists” consultation paper. (July 15, 2015)
Life Financial Reporting Committee practice note detailing practices on the treatment of value of business acquired (VOBA), goodwill, and other intangible assets under the purchase method of accounting of Generally Accepted Accounting Principles, or PGAAP. (October 15, 2014)
Stress Testing Work Group comments on NAIC Life Risk-Based Capital Working Group stress testing proposal.
(June 18, 2014)
Practice note detailing practices on the purchase method of accounting on VOBA, goodwill and other intangible assets under Generally Accepted Accounting Principles commonly referred to as Purchase GAAP.  Exposed for comment until June 2.
(April 04, 2014)
Life Financial Reporting Committee practice note Optional Retrospective Application of ASU 2010-26 Acquisition Costs. (October 01, 2011)
Financial Reporting Committee practice note on Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards. (March 01, 2011)
Life Insurance Financial Reporting Committee comments on the New York State Insurance Department's draft survey about VAGLBs. (January 24, 2001)