Description: Development of relevant industry mortality experience for different market segments. Details about the 2017 CSGI Mortality Table for guaranteed issue products.

Description: Summary of NAIC's Winter National Meeting

Description: Continued look at unlocking of traditional contract valuation assumptions, this time examining the frequency of true up for actual experience.

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

Description: Illustrates the effects of different approaches to updating GAAP valuation assumptions for traditional life contracts.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: VM-20 requires prudent estimate assumptions that are based upon a combination of company experience, industry basic tables and prescribed margins. VM-20 has requirements on how company experience is defined, and also requires that additional margins be established if the actuary does not consider the prescribed margins to be adequate.

Description: A change in the way in which statutory life insurance and annuity reserves are determined in the United States is heading toward adoption. Currently, the Actuarial Opinion and Memorandum Regulation AOMR combines formulaic factor-based minimum reserves with reserve adequacy testing. The American Academy of Actuaries Academy is working with the National Association of Insurance Commissioners NAIC to finalize the basic framework of a principles-based reserve PBR methodology, based on a gross premium valuation, for life insurance products. The NAIC Life and Health Actuarial Task Force LHATF has also been considering Actuarial Guideline VACARVM that would introduce a PBR method for the valuation of variable annuity contracts.

Description: In physics and engineering education, Fermi problems require solutions based on good approximate calculations with little or no actual data, involving making justified guesses and deducing bounds without using sophisticated tools. The idea of Fermi problems are of particular relevance to today's actuaries, as pricing, reserving, and financial reporting involve more and more complex stochastic components. The paper discusses some approximate solutions developed in academia in the spirit of Fermi problems.