New York, NY, March 24, 2019 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that William Hines, FSA, MAAA, Principal & Consulting Actuary with Milliman, will speak at The Knowledge Group’s webcast entitled: “Complying with FASB’s Insurance Accounting Standard: Effective Preparation and Implementation Strategies.” This event is scheduled for Thursday, April 11, 2019 from 12:00 pm to 1:00 pm, Eastern Time.
For further details, please visit: https://www.theknowledgegroup.org/webcasts/fasbs-insurance-accounting-standard/
About William Hines
William consults extensively on financial reporting issues involving U.S. GAAP, IFRS, regulatory accounting, and embedded value. He has served as appointed actuary for more than a dozen life insurers in the United States, Bermuda and the Cayman Islands. William is recognized as an expert in insurance company accounting and serves on the International Accounting Standards Board’s IFRS 17 Transition Resource Group.
His consulting assignments have also included litigation support, reserve reviews, pricing analysis, mergers and acquisitions, mutual company reorganizations, alternative financing structures, securitizations, captive insurance companies, and reinsurance transactions.
Prior to joining Milliman, William worked at John Hancock in Boston, where he gained experience in GAAP and statutory financial reporting, valuation, dividend scale development, profitability analysis, and projection, as well as many aspects of demutualization.
Milliman is among the world’s largest providers of actuarial, risk management, and related technology and data solutions. Our consulting and advanced analytics capabilities encompass healthcare, property and casualty insurance, life insurance and financial services, and employee benefits.
With more than 3,500 employees and revenue of US$1 billion in 2017, the firm serves the full spectrum of business, financial, government, union, education, and nonprofit organizations.
Founded in 1947, Milliman today has offices in principal cities worldwide, covering markets in North America, Latin America, Europe, Asia and the Pacific, the Middle East, and Africa.
The Financial Accounting Standards Board (FASB) recently released its Accounting Standards Update (ASU) that revamped the financial reporting of insurance companies’ long-duration contracts like life insurance, disability income, long-term care, and annuities. The new accounting standard demands enhanced disclosures, improves uniformity among similar market-based benefits, and sets standard liability discount rate.
The changing FASB standard poses a considerable impact on various stakeholders. Revisiting existing financial reporting practices and integrating a doable strategic plan are imperative for effective and efficient compliance.
Join a panel of key thought leaders and professionals assembled by The Knowledge Group as they provide the audience with an in-depth analysis of the recent developments in FASB's Insurance Accounting Standard. Speakers will also discuss its implications to stakeholders as well as the best preparation and implementation strategies to avoid pitfalls.
This Live Webcast will discuss the following key provisions:
• The Backstory of the New Insurance Contracts Accounting Standard
• FASB Consideration of Industry-Input and Feedback
• Implementing the Spirit of Clarity
• Implementation and On-Going Calculations
• Data Requirements and Governance
• Explaining the Impact to Stakeholders
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/