Life insurers face financial, regulatory and reporting changes
January 16, 2014 by Warren S. Hersch
Chief financial officers from North American life insurance companies acknowledge that their industry faces considerable cost and talent management challenges coinciding with several significant regulatory initiatives, according to a new survey by global professional services company Towers Watson.
The survey explores life insurers’ preparation to comply with current and emerging regulatory reporting requirements, and the impact these new regulations will have on business operations.
The survey addresses requirements for the International Financial Reporting Standards (IFRS) 4 Phase 2; National Association of Insurance Commissioners (NAIC) Own Risk and Solvency Assessment (ORSA); NAIC Valuation Manual (VM) 20; Actuarial Guideline (AG) 38, revisions for 8D and 8E; and Statement of Statutory Accounting Principles (SSAP) 102/92. Click here to read…
