Statutory vs gaap in regards to MTM losses.?
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Can anyone give me a clear explanation of the difference between statutory vs gaap accounting methods when it comes to mark-to-market losses especially for monoline insurers. Does statutory accounting require the losses to directly reduce capital while gaap doesn't? Or how exactly does it work.
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Answer:
Guess there aren't many actuaries here. I tried reading your question, but frankly don't understand most of it. Maybe an accountant would be more helpful?
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