Description: Description of the mathematics involved when looking at low probability events within a company from the perspective of the C-Suite. The accumulation of small probability events leads to a much higher probability of at least one of them happening in a given period.

Description: From session 60PD at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999, Panel examines a range of issues surrounding the organization of the actuarial department of an insurance company.

Description: This session at the SOA 2003 Washington, DC Spring Meeting focuses on the process for identifying and resolving significant differences of opinion on assumption levels between pricing and financial actuarial areas of a company. Developing a consistent view of a company's financial picture is discussed.

Description: This presentation at the 1989 Valuation Actuary Symposium discusses the background and status of the trial compliance questionnaire, which will require the valuation actuary to demonstrate compliance with standards of practice.

Description: The article reviews the creation and interpretation of federal tax law, with specific application to the life insurance industry

Description: This article highlights the key implications and insights as a result of the change to the determination of reserves under GAAP accounting guidance for insurers with long-duration liabilities due to Accounting Standards Update (ASU) 2018-12 (“LDTI”) for IDI and LTC products.

Description: This discussion is about group life insurance for employees on leave due to military service, methods for estimating group dividend liabilities, and issues in the underwriting of Group Hospital Expense insurance.

Description: In 2018, the Financial Accounting Standards Board (FASB) adopted significant revisions to the U.S. GAAP insurance accounting literature, via Accounting Standards Update (ASU) 2018-12. The title of ASU 2018-12 is “Targeted Improvements to the Accounting for Long-Duration Contracts,” and as a result a common acronym for ASU 2018-12 is LDTI (long-duration targeted improvements).

Description: December 2016 edition of The Financial Reporter

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.