The Committee on Life Insurance Company Expenses is currently seeking life insurance company data submissions to the 2010 Individual Life and Annuity Expense Study. We strongly encourage your company's participation in this study.

The Committee is working on its 2009 inter-company expenses study for individual life and annuity products which will be posted on the SOA website as soon as practical. The 2008 study has been posted.

The objective of the 2010 study is to continue this effort while expanding the level of contributions to continue to serve as a useful unit expense benchmark to actuaries and their managements from which to assess their own unit cost performance. In addition, the Committee expects the results to be useful in improving the generation of the Generally Recognized Expense Table (GRET in the U.S.) used by some companies to demonstrate compliance with the NAIC model sales illustration regulation. This study is intended to be completed by U.S companies and U.S. operations of Canadian companies.

To the right are links to the Data Submission Forms (Excel workbooks) as well as instructions for completing them. Data should be submitted via the Excel workbook and emailed to Barbara Scott, Research Administrator. The deadline for submitting data is October 30, 2011.

Links at right include:

• Data Submission Form
• Data Submission Form–UL–A separate workbook has been created for Universal Life business only. If feasible, please complete this workbook with the unit and expense information applicable to Universal Life that is also included in the Permanent Life category on the workbook entitled Data Submission Form–All Categories. The primary workbook (Data Submission Form) should be completed as in previous years with all Permanent Life information included. The Data Submission Form–UL should only include information related to Universal Life.
• Instructions for Completing Workbook
• Notice of Intent to Submit Data Form–If your company intends to submit data, please indicate so by returning the Notice of Intent form below to Barbara Scott by September 30, 2011.

Please do not hesitate to contact Steve Siegel, SOA Research Actuary at 847.706.3578 if you have any questions or need further information.
Confidentiality

All data submissions will be kept completely confidential. Society of Actuaries staff will process the responses and no individual company data will be published or shared with committee members. Where comparative results are presented, no companies will be identified.

Thank you in advance for your participation!

Sincerely,
Sam Gutterman
Tim Harris
Co-Chairs, Committee on Life Insurance Company Expenses