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Insurance Regulation: Shortcomings in Statutory Asset Reserving Methods for Life Insurers

GGD-94-124 Published: Jun 03, 1994. Publicly Released: Jun 03, 1994.
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Highlights

Pursuant to a congressional request, GAO reviewed the National Association of Insurance Commissioners' new methods of calculating statutory asset reserves for life insurers, focusing on whether the new methods overcome the shortcomings of the old mandatory securities valuation reserve (MSVR) method.

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Accounting proceduresFinancial disclosureFinancial managementInsurance companiesInsurance regulationInvestmentsLife insuranceLossesReporting requirementsMortgages