Edward C. Jarrett, FSA, MAAA

Principal and Director of GAAP Systems & Consulting

 

Ed has over 35 years of experience in the life insurance industry. He began his career with one of the nation's leading life insurers, after which, he began a very successful consulting career.  Ed has accumulated a broad range of experience, as outlined below.

 

Recent Experience

  • GAAP valuation

    • Mr. Jarrett is the ARC firm expert in U.S. GAAP.

    • He developed, implemented and currently manages ARC’s solution to the valuation actuarial requirements for FAS 97, FAS 120, SOP 03-1, SOP 05-1, and fair value of equity indexed annuities

    • Designed and managed implementation of US GAAP valuation processes for multi-national insurer

  • GAAP conversions

    • Assisted in numerous GAAP conversions of universal life, annuities, and traditional life business to ARC’s valuation systems and the Prophet System

  • GAAP actuarial

    • Provided professional review of US GAAP valuation processes and results.

    • Provided input and guidance to companies in developing and implementing GAAP practices and procedures

 

Education / Exams

  • Bachelor of Science in Mathematics - California Polytechnic University at San Luis Obispo

  • Fellow of the Society of Actuaries

  • Member of the American Academy of Actuaries

 

Relevant Experience

  • Prophet (2+ years experience)

    • Libraries: US, International, Conventional, Unit Linked, ALS

  • ARCVAL (25 years experience)

    • GAAP UL, GAAP DA, GAAP History Builder, Financial Forecaster, TL-Flyer, ULtraVAL, CARVM

  • Financial Reporting for all aspects of life, annuity and health insurance, both on US GAAP and Statutory accounting bases

  • GAAP and Purchase GAAP for Insurance Products under FAS 60, FAS 97, and FAS 120

  • Life Company Evaluations including Acquisition and Actuarial Appraisal Valuations

  • Pricing and Product Design for Interest Sensitive Life, Annuity and Universal Life Products

  • Traditional Life and Health Product Design and Pricing

  • Term Insurance Product Development and Strategy Formation

  • Management of In Force Life and Health Insurance

  • Measuring of Experience on Life and Health products

  • Evaluation of Reinsurance Costs and Competitiveness