Description: 2021 Life Meeting - Session 8E: Insurance M&A Valuation Methodologies and Considerations 9.1.21 Recording

Description: 2021 Life Meeting - Session 1C: Earnings Pressure Impact on Annuity Product Development and the Insurance-Linked Securities Market

Description: IFRS 17 will be effective as of 1 Jan 2023 and provide opportunities as well as challenges to both Direct Writers and Reinsurers across the insurance industry. If the new framework is not fully understood, an implementation can elevate the risk of problems in financial reporting, product development, investment management and more. The transition to IFRS provides an opportunity for companies to optimize the financial position of the enterprise by implementing mitigating strategies to reduce the risks and challenges that IFRS brings to the table.

Description: This session series is sponsored by Hannover Re Session 2 - COVID-19: Financial Impacts and Re-shaping Risk and Capital Management Practices COVID-19 has posed significant challenges to health insurers and providers to meet profit targets and maintain strong balance sheets and capitalization levels. As a result, companies are facing an ever-increasing need to better integrate their risk and capital management practices across the enterprise and evaluate a broader set of tools to manage and optimize their capital and liquidity needs. This second session of the COVID-19 series will help you examine the financial impact that COVID-19 has had on the health industry and review how companies are evolving their financial and capital management practices to achieve their strategic goals. It will also outline how structured reinsurance has emerged as an increasingly utilized form of managing capital. By attending this session, you will be able to explain how COVID-19 has impacted the financial performance and capitalization of the health insurance industry, and will gain a basic understanding of alternative ways of managing and optimizing capital, including the use of structired reinsurance.

Description: Join a discussion on the tax implications for direct writers ceding annuity blocks for both onshore and offshore reinsurance arrangements. Get an introduction to the tax consequences of the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are U.S.-based and not U.S. domiciled.

Description: The growth of the life insurance industry in Bermuda has been remarkable over the past several years. What may have been just a handful of commercial life insurance companies with operations on the island just a few years ago, has now mushroomed into nearly 200 registered companies.With a stable economy, robust regulatory framework, and tax-efficient environment, companies are increasingly looking to Bermuda when making strategic decisions.This session takes a case study approach in illustrating the financial implications that can lead to a strategic decision to put business into Bermuda. Other practical considerations such as investment portfolio opportunities, guideline interpretation, and tax status, are also explored By attending the session, you will: - Analyze the balance sheet complexities under the Bermuda regime. - Understand the implications of offshore reinsurance on distributable earnings and embedded value. - Develop knowledge on the impact of incorporating alternative assets on Bermuda required capital and EV. - Understand the practical considerations in reinsuring business offshore to Bermuda.

Description: Reinsurance has become more frequently used in the annuity market along with large M&A transactions over the past few years. Discuss the market forces and the impact to the product development and pricing. By attending the session, you will: Understand the benefits of reinsuring annuities and the types of reinsurance used for annuities.

Description: Almost half of recent FDA approvals have been for orphan drugs. This trend is expected to continue in 2023. Orphan drugs are priced more than 30 times higher than non-orphan drugs, therefore their cost burden in aggregate has the potential to overwhelm the budgets of payers, especially that of smaller health plans. Hear how the cost impact analysis for smaller health plans require different considerations than for a larger health plan when modeling the impact of rare diseases.

Description: Join us for discussion about the tax implications for direct writers ceding annuity blocks. The presenters will describe the mechanics and consequences for both onshore and offshore reinsurance arrangements. This will introduce the audience to the tax consequences, with the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are US-based and not US domiciled.

Description: At the conclusion of the first part, attendees will be able to describe sources of reserve redundancy for products under Principle Based Reserve (PBR) and products under Commissioners' Annuity Reserve Valuation Method (CARVM). Such products include Term Life, Whole Life, Universal Life, and Fixed Annuity with and without rider. We will also review sources of capital redundancy from the C-1 factor under Risk-Based Capital (RBC) and assets such as Unrated Asset Credit Fund can have high C-1 factor even if its risks are limited. At the conclusion of the second part, the attendees will learn about potential Reserve Relief reinsurance solutions. Such solutions can provide Reserve Relief for annuity and term life businesses, as well as potential innovative asset-side solutions. Asset managers can structure assets that the C-1 factor aligned with the corresponding risk.