The Fair Value of Insurance Business Softcover Repri Edition Contributor(s): Vanderhoof, Irwin T. (Editor), Altman, Edward I. (Editor) |
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ISBN: 1461370906 ISBN-13: 9781461370901 Publisher: Springer OUR PRICE: $161.49 Product Type: Paperback - Other Formats Published: October 2012 |
Additional Information |
BISAC Categories: - Business & Economics | Finance - General - Business & Economics | Management Science - Business & Economics | Management - General |
Dewey: 650 |
Series: New York University Salomon Center Series on Financial Marke |
Physical Information: 0.71" H x 6.14" W x 9.21" (1.05 lbs) 322 pages |
Descriptions, Reviews, Etc. |
Publisher Description: Insurance companies, as well as banks and thrift institutions, have traditionally reported assets and liabilities on the basis of their amortized cost, or book value. But following the turmoil in securities markets due to highly volatile interest rate fluctuations in the 1980s and the early 1990s, and problems caused by inadequate liquidity, in the mid-1990s the Financial Accounting Standards Board (FASB) issued a new ruling calling for financial intermediaries to report the fair, or market, value of most assets. Called FAS 115, this new standard is the first step in the eventual change to valuing all the assets and liabilities belonging to financial intermediaries under the fair value accounting method. Thus, these changes will pose tremendous future implications for three key business measures of a financial intermediary:
As the papers collected in The Fair Value of Insurance Business extend and update some of the issues treated in a previous Salomon Center conference volume, The Fair Value of Insurance Liabilities, this new volume may be viewed as a companion to the earlier book. |