Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: The article describes the impact of AG 48 to a captive reinsurer for a SGUL product.

Description: The article describes the impact of AG 48 to a captive reinsurer for a SGUL product.

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: Discussion of asset adequacy analysis: various ways to comply with requirements

Description: This is a letter to the editor regarding the October 2014 Taxing Times supplement on the Camp proposals on the taxation of life insurance companies.

Description: A description of how auditors or examiners can evaluate whether PBR reserves are adequate and reasonable.

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

Description: Written from a regulatory perspective, the article covers the purpose of regulation and some regulatory expectations. The topics include the appointed actuary's involvement in corporate governance, reasonability of results when compared to prior results, data quality, familiarity with the company's annual statement and applicable statutes, and areas where appointed actuaries can add value though services provided to smaller life insurance companies.