Description: Federal Tax Issues Under the 2001 CSO Mortality Tables

Description: As companies implement PBR, this article outlines challenges regarding the treatment of accelerated underwriting under VM-20 and in light of future innovation.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: This article compares earnings emergence under five popular world-wide accounting bases for two insurance products, term life and fixed deferred annuity.

Description: This article describes methods for addressing technical challenges related to modeling asset cash flows for PBR reserve projections.

Description: Illustrates key differences, in earnings for a segment of term insurance, between current GAAP standards and GAAP targeted improvements (based on tentative board decisions preceding the release of an exposure draft).

Description: A description of the controversy surrounding Actuarial Guideline 38 (AG38) and the joint working group that was formed to address the controversies.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: Mortality Credibility and its use within VM-20.

Description: A discussion of regulatory oversight of PBR with two former regulators to give some insight into how your company should be preparing for new PBR requirements.