This hot breakfast session will include an update on Investment Section activities and provide a social and networking opportunity for actuaries who work in the investment practice area. Come meet your peers and get connected!

The recent economic environment has made it difficult for many products to project material accumulation potential, placing an increased focus on protection products. At the same time, changes to AG38 have forced product changes in 2013 for ULSG writers. Term and ULSG are feeling the pains of new valuation rates and low interest rates.

The session will provide guidance for when predictive modeling tools can be effectively used and when they cannot. There will be an opportunity for the audience to ask questions. At the conclusion of the session, attendees will be able to: identify predictive modeling tools that can be used to model extreme events and determine when predictive modeling tools do and do not apply to modeling extreme events.

This session will present the beneficial uses of captive reinsurers and will include practical application and examples of effective use by companies in the market today. At the conclusion of the session, attendees will be able to evaluate potential uses or application of captive reinsurance solutions to their company situation.

This session will provide an introduction to the various discount rate methodologies and accompanying case studies described within the monograph. Although the IAA monograph's focus is setting discount rates for financial reporting, citing examples from different countries, it has the potential to inform the practice of actuaries in other roles, too. At the conclusion of the session, attendees will have a greater appreciation of the challenges of setting discount rate assumptions in current economic climate and challenges faced by actuaries in other areas of practice and countries.

The presentation will move to issues being faced by illustration actuaries and companies concerned about complying with the model regulation. The session will allow for open discussion of ideas and concerns related to passing illustration testing and issuing certifications. At the conclusion of the session, attendees will have an understanding of the Life Illustration Practice Notes to help with their day-to-day job and gain insight into issues faced and actions taken by many companies in order to comply with the Life Illustration Model Regulation.

Life insurers in Canada have over 10 years of experience using a principle-based approach to reserving known as the Canadian Asset and Liability Method (CALM). What insights can be gained by comparing the two methods? Listen as presenters compare, contrast and discuss the merits of the principle-based approaches to reserving in the United States (VM20) and Canada (CALM), including specific details on assumptions setting and updating, working with regulators, external peer review requirements, income patterns, negative reserves and more. At the conclusion of the session, attendees will be able to better interpret the practical implications of the U.S. principle-based reserving method detailed in VM20 and compare it to the Canadian Asset and Liability Method (CALM).

This session will provide an update of the current state of the variable annuity market along with guaranteed living benefit (GLB) features. At the conclusion of the session, attendees will be able to identify the variable annuity market and product features including GLBs. The attendees will also be able to describe different reinsurance techniques to mitigate volatility.

Regulatory change is nearly constant for the life insurance industry. Keeping up with the latest developments is challenging, but key for product actuaries. This session will update attendees on the latest U.S. life insurance and annuity regulatory and/or tax code changes affecting product development. At the conclusion of the session, participants will be able to understand the latest regulatory and tax developments in the industry.

The session will begin with an overview of the emerging experience in the post level period and the key drivers of that experience. Analysis of the impact of this experience on profitability and ways to manage the resulting profitability will next be addressed. Audience interaction will be expected as the presenters will be well-prepared to address questions and comments from the audience.