Description: The discount rate is one of the most critical topics in IFRS 17 and may have important repercussions on product profitability. The presenters will cover practical implementation considerations, including alternative approaches to illiquidity premium calculation for business supported by fixed assets with credit risks. Other implementation considerations will also be covered, including granularity of setting the discount rate, application to new business, and implications on asset and liability modeling. The presenters will then discuss how discount rates could be utilized in an Economic Scenario Generator (ESG) to assist IFRS17 calculations, particularly for risk-neutral valuation of the time value of options and guarantees.

Description: Discussion of potential volatility to non-participating long-duration traditional contract reserves under US GAAP targeted improvements to accounting for long-duration insurance contracts. Discusses the impact of revising assumptions as well as interaction of revising assumptions with changes to discount rates.

Description: This paper represents an attempt to formulate a cohesive and consistent approach to the analysis of claim liabilities. Probabilistic tools from risk and queuing theory have been incorporated into a stochastic model that quantifies the variability inherent in such liabilities and at the same time reproduces intuitive results that may be arrived at from a deterministic standpoint.

Description: Discover more about key Economic Scenario Generation (ESG) topics that are relevant for actuarial applications. Expect a focus on risk-neutral / market-consistent ESGs, like setting long term assumptions and scenario reduction. Long tern assumptions will focus on a basic introduction to challenges in deriving long term assumptions and key concepts to better understand how those are set. Come explore a basic overview of scenario reduction techniques and challenges as well as common sense criteria to address the reasonableness of the reduction.

Description: A review of model inputs, suggested methods to getting comfortable with the data that your model is using, and data validation lessons

Description: This article highlights the fact that new requirements for disclosure of average liability duration and interest rates could lead to diversity in practice. It also recognizes that elements of the new disclosure requirements will enable financial statement users to perform their own crude estimates of these averages in ways that could help them to better understand the liabilities and to compare companies using consistent methods. Finally, the article describes how companies might also find value in such crude estimates.

Description: Edited Content: Discover more about key Economic Scenario Generation (ESG) topics that are relevant for actuarial applications. Expect a focus on risk-neutral / market-consistent ESGs, like setting long term assumptions and scenario reduction. Long tern assumptions will focus on a basic introduction to challenges in deriving long term assumptions and key concepts to better understand how those are set. Come explore a basic overview of scenario reduction techniques and challenges as well as common sense criteria to address the reasonableness of the reduction. Provided Content: The overall objective would be to introduce key ESG (Economic Scenario Generation) topics to actuaries, with two topics below that are relevant for actuarial applications. We intend to focus on risk-neutral / market-consistent ESGs. 1. Setting long term assumptions o A basic introduction to challenges in deriving long term assumptions and key concepts to better understand how those are set 2. Scenario reduction o A basic overview of scenario reduction techniques and challenges as well as common sense criteria to address the reasonableness of the reduction

Description: Latest development in IFRS 17 including a first look at companies disclosures and financial impacts, as well as a discussion of some of the run time issues that companies face.

Description: This article discusses the FASB Exposure Draft, “Accounting and Reporting by Insurance Enterprises for Certain Long-Duration Insurance Contracts and for Realized Gains and Losses from the Sale of Investments.”

Description: This session 112 PD of the Toronto Spring Meeting covers principles developed during the Unified Valuation System UVS project of the American Academy of Actuaries with support from the Society of Actuaries and the Financial Reporting Section of the SOA. From the Record of the Society of Actuaries, Volume 27, No. 2.