Table of Contents

1. Background on fair value accounting of insurance company assets and liabilities.- 2. Comparison of methods for fair-value life insurance liabilities.- 3. Fair valuation of life insurance company liabilities.- 4. Experience in implementing fair value of insurance liabilities.- 5. Allowing for asset, liability, and business risk in the valuation of a life company.- 6. A market-value accounting framework for insurance companies.- 7. Option adjusted value of the firm.- 8. The cash flow method for valuing liabilities in Canada.- 9. The derivation and application of accounting standards to the market value of liabilities.- The indexed discount rate method for fair valuation of liabilities.- Is Paul vs. Virginia dead?.- Remarks.- List of contributors.