William J. Gorski, FSA, MAAA, FRM
Stephanie T. Crownheart, FSA, MAAA
This session will cover the following:
- GAAP Liabilities
- Retrospective Unlocking
- Assumption Unlocking
- Discount Rate Unlocking
- Accounting for Expenses
- Market Risk Benefits
Our objective is not just to list the changes coming under ASU2018-12 (LDTI), but to describe the impact from the perspective of someone whose job will be to report and explain the GAAP earnings results.
Bill Gorski has a diverse background of more than 25 years in life insurance in both the US and internationally. He began his career doing pricing and product development with ING in the US. Prior to joining L&E, he spent 7 years overseas in Australia and then in Switzerland. During that time, he specialized in financial reporting, market consistent valuation and solvency capital models. His international financial reporting background, first under Australian GAAP and during the development of IFRS 17, brings a different perspective to the recent changes to US GAAP.
Stephanie Crownhart, FSA, MAAA is a Vice President in the Kansas City office of Lewis & Ellis and has 10 years of life insurance experience. She began her career as a pricing actuary at Generali USA Life Reassurance which was later acquired by SCOR Global Life. She held this position for 5 years and was exposed to a wide range of life products offered in the life insurance industry. Her consulting role at Lewis & Ellis has provided experience in the areas of enterprise risk management, experience studies, policy form review, pricing and product development. Her recent experience includes statutory and GAAP actuarial audit work, asset adequacy analysis, valuation and financial reporting for life insurance.