Examples of Insurance Expert in a sentence
FASB representatives also discussed the project in various private meetings with auditors and industry preparer groups (such as the ACLI, GNAIE property casualty group, and the AICPA Insurance Expert Panel).
The Commission Services had a number of meetings with the Expert Group on Banking, Payments and Insurance (Expert Group), composed of Member State experts, on 15 May, 13 June, 30 June, 9 July, 16 July, 23 July, 30 July, 10 September, 25 September, 2 October and 8 October 2014.
Private meeting with members of the AICPA Insurance Expert Panel (November).
A majority of FinREC and the Insurance Expert Panel recommend that the composite margin should offset any increases in the probability-weighted estimate of future cash flows as a “shock absorber”.
The majority of FinREC and the Insurance Expert Panel do not object to the proposed guidance for reinsurance contracts allowing a Day 1 gain by the cedant if the expected present value of future cash inflows plus the risk adjustment exceed the expected present value of future cash flows, as a transfer of risk exists through the reinsurance contract.
However, a minority of FinREC and the Insurance Expert Panel believe that gain recognition upon entering into a reinsurance contract would be inconsistent with the concept in the ED of no Day 1 gain for direct written insurance contracts, and might result in accounting arbitrage.
This will promote stability in the insurance industry in particular and the financial sector in general.The Insurance Expert is expected to assist in developing the insurance sector by increasing insurance surveillance analysis (including conducting stress tests), building public trust, and making the insurance sector stronger and more competitive.
E) If the IASB were to adopt an approach that includes a composite margin, a majority of FinREC and the Insurance Expert Panel recommend that the composite margin should offset any increases in the probability-weighted estimate of future cash flows as a “shock absorber”.
A staff member participated in four meetings (one by telephone) of the AICPA Insurance Expert Panel’s SOP 03-1 Subgroup that is working on providing guidance for certain implementation issues related to the AICPA Statement of Position 03-1, Accounting and Reporting by Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts.
Furthermore, we would like to thank Olaf Weeken, Giuseppe Insalaco (both ESRB Secretariat), members if the Work Stream of ESRB Insurance Expert Group (Lasse Hjortsballe, Alexander Ristig, Liliana Arias, Katia Specchia) for their valuable comments and input.