English, Article edition: International Diversity in Measuring the Fair Value of Life Insurance Contracts* Paul J M Klumpes; Christopher D O'Brien; Andres Reibel

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/79086
Physical Description
  • article
Language
  • English

Edition details

Title
  • International Diversity in Measuring the Fair Value of Life Insurance Contracts&​ast;
Author
  • Paul J M Klumpes
  • Christopher D O'Brien
  • Andres Reibel
Physical Description
  • article
Notes
  • This paper discusses international diversity in accounting for insurance contracts as reported under various Generally Accepted Accounting Principles (GAAPs) in Australia, Canada, the U.K. and the U.S.A. Relative to statutory-based accounting principles, existing GAAPs allow insurance firms to match income to expenses over the term of an insurance contract in order to provide a more “realistic” basis for reporting to shareholders. However, those GAAPs do not employ a coherent and consistent view of how to measure the fair value of a life insurance firm's business. The International Accounting Standards Board (IASB) has tentatively concluded that fair value should be used in accounting for insurance contracts. This paper discusses how existing GAAPs differ from fair values and simulates their impact on the profits emerging on a simple endowment policy. We also consider Solvency II as providing a broader conceptual fair value-based framework within which additional risk-related disclosures can address currently unresolved conceptual and practical problems in implementing fair value for insurance contracts and related financial instruments. These recommendations are likely to bear upon current deliberations by the IASB on financial instruments and life insurance accounting. The Geneva Papers (2009) 34, 197–227. doi:10.1057/​gpp.2009.7
  • RePEc:pal:gpprii:v:34:y:2009:i:2:p:197-227
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment