Description: This dialogue discusses the history and purpose of section 811(a) and its historic role in the computation of life insurance company taxable income and, in particular, reserves.

Description: Update on accounting and capital/RBC issues subsequent to tax reform.

Description: This paper, chapter VI of the 1987 Valuation Actuary Handbook, discusses a framework for the valuation of reserves and surplus in statutory financial statements, first providing a detailed section of definitions to clarify to clarify the terms used in the paper. The “new” environment of volatile interest rates is discussed, and the mathematics underlying ruin probabilities, and combinations of risks. Procedures for different products with different types of risks are discussed. Other topics include coordination of investment policy and product policy, aggregate reserves and surplus needed, use of simplifications, financial planning, and reinsurance.

Description: A discussion of the possible effort required and impacts resulting from the implementation of C3 Phase II for establishing risk-based capital for variable annuities. This article will describe practical considerations gleaned from actual valuation calculations recently performed by a consulting firm.

Description: This article describes how there are many kinds of plans and arrangements under which qualified annuities are issued, and the rules governing them differ considerably.