Program Overview

This seminar is being jointly sponsored by the Society of Actuaries and the American Academy of Actuaries, and held adjacent to the 2008 Valuation Actuary Symposium. It will provide an in–depth discussion of several "hot topics" and specific implementation challenges related to the proposed Principle–Based Approach (PBA) for statutory reserves and capital (for both life and annuity products). The seminar has been designed for those who are familiar with PBA and would like to gain a deeper understanding of several key issues related to PBA. Active participation by the attendees in the discussion of these topics will be encouraged.

The seminar has been designed to provide participants with practical information regarding the implementation of PBA, including such topics as:

• Efficient Modeling Techniques
• Development of Economic Scenarios
• Stochastic Exclusion Test
• Development of Assumption Margins
• Use of Underwriting Scoring Procedure to determine Mortality Assumptions
• Modeling Results for Selected Products
• Reinsurance Examples
• Implementation of VACARVM
• Practicalities and Implementation Challenges of PBA