Description: Update on statutory Valuation reserves and required surplus for variable annuities with living benefit guarantees

Description: This article provides an update, as of October 2023, on Financial Reporting Section research projects in process and those recently completed.

Description: Article discussing the International Actuarial Association's meeting in November 2008.

Description: S&P reissued a second Request for Comment (RFC) in May 2023 that proposed changes to their insurer capital adequacy methodology and assumptions, and suggested these proposed changes may become effective at the end of 2023. This paper is to highlight the notable changes between the current capital model criteria and the proposed model. We also discuss major changes from the first RFC and the second RFC, as well as several key items that still require enhanced guidance and clarification. Our analysis is based on information gathered from S&P's public comments, conversations with industry participants, and publications released by S&P Global as of July 2023 when this paper was written. Most U.S. life insurers are rated by S&P using their U.S. Life Statutory Capital model, while other insurers use the GAAP/IFRS Capital Model. Statutory financials will remain the starting point for U.S. life insurers under the proposed model, however there will be additional adjustments made to these numbers in an effort to create consistency and comparability with other accounting and solvency regimes.

Description: VA GMDBs: Contemplating the Impact of the Proposed SOP on GAAP Income by David C. Heavilin and Karen J. Sasveld from The Financial Reporter, December 2001, Issue No. 48.

Description: Feature article giving updates on the International Actuarial Association’s activities which include efforts to create global actuarial standards.

Description: In this article, we collected data from the companies’ roll-forward disclosures related to calendar years 2021 and 2022 on Market Risk Benefit and shared a high-level summary of the Market Risk Benefit volatility that a focus group of companies incurred and summarized the most common ways to mitigate volatility.

Description: Feature article discussing the actuarial response to the global financial crisis and the actuary’s influence on IFRS.

Description: Feature article discussing expected future regulation changes for financial reporting.

Description: Relates actuarial discussions at a special meeting of the Insurance Accounting Committee of the IAA in Toronto in September regarding the IASB’s exposure draft, Insurance Contracts.