Insurers and reinsurers are taking umbrage with the findings of a new paper that measures life and non-life insurance liabilities.

The backlash, spearheaded by the Group of North American Insurance Companies (GNAIE), expressed concerns because the paper—“The Role of Risk Margins in a Fulfillment Accounting Objective,” by Sam Gutterman, may influence joint discussions on insurance contracts of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

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