Since October 2010, several insurance companies and trade associations from around the world have discussed how we could best support the work of the IASB and the FASB in the development of a single high-quality robust accounting standard for insurance contracts. Over the years, because the industry has traditionally been governed by local regulation, it historically never had a standard method of pulling together disparate views from different geographical locations. The leadership of several major international companies, national and regional trade associations from Asia, Europe, and North and South America met and decided to attempt to prepare a proposal for the Boards' consideration that would have broad industry support. We call ourselves the Hub Global Insurance Group with the idea we would serve as an effective center for inputting a common set of comments to the Boards without preventing individual companies and trade associations from making their own comments.
 

Hub Global Insurance Group Technical Papers

• Cover letter
• Supporters of the Hub Global Insurance Group
• Executive Summary
• Industry Proposal
• Application of business model to insurance contracts
• Use of OCI
• Use of OCI -  Options and Guarantees
  • Examples
• Locked-in approach
• Top down discount rate
• Top down discount rate Addendum
• Top down discount rate Addendum 2
• Traditional Measurement Approach
• Presentation of performance statement