5 Nov 2019 - 5 pm - 7:30 pm
DePaul Center 1 E Jackson Blvd Chicago
In 2018, the Financial Accounting Standard Board (FASB) finalized the Targeted Improvements (a.k.a LDTI) to U.S. GAAP for long durational insurance contracts. Public business entities are required to issue financial statement under this new GAAP standard starting 2022 and 2024 for non-public business entities. We will provide an overview of the accounting change. Topics will include major changes to liability for future policy benefits, DAC, MRB, as well as transition approaches and the new required disclosures reporting.
Gaurav Rastogi is a senior manager in the Insurance and Actuarial Advisory Services practice of Ernst & Young LLP’s Financial Services Office. He is based in the firm’s New York office. Prior to Joining EY, Gaurav held multiple valuation and pricing roles with a leading global life insurance company in their Canada offices. Gaurav is an actuarial transformation specialist and has close to 10 years’ experience in the actuarial modeling and financial reporting space. More recently, Gaurav has been assisting clients with financial reporting, data and systems changes required by insurers as a result of regulatory updates, such as IFRS 17, long duration targeted improvements and PBR.
The event ends with a networking reception at 6:00 p.m.
Members, $30 with reception; $20 without reception
Non-members, $40 with reception; $30 without reception
Retirees/Unemployed/Students, $10 with reception; free without reception