Description: Panelists discuss prevailing business models, as well as the role of the home office, adopted by valuation departments to meet business needs. Potential business models include decentralized subsidiary models, centralized hub, outsourced to external vendor and hybrids.

Description: This session at the 2004 Valuation Actuary Symposium provides an overview of statutory valuation issues for life and annuity products including the Actuarial Opinion and Memorandum Regulation, variable products reserving standard, adoption of 2001 CSO, C-3 Phase II RBC project and nonforfeiture changes.

Description: This presentation is a panel discussion, session number 2PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists introduce major life and annuity statutory and GAAP valuation issues, which are covered in depth at subsequent sessions. There is also a brief update on activities of the International Accounting Standards Board [IASB]. Statutory topics include the draft National Association of Insurance Commissioners [NAIC] Actuarial Guideline MMMM for variable products with guaranteed living benefits, amendments to the Actuarial Opinion and Memorandum Regulation [AOMR], Regulation XXX mortality factors, and codification update, potential changes to the Standard Valuation Law, risk-based capital, and adoption of the 2001 CSO Mortality Table for valuation. GAAP topics include Statement of Financial Reporting Standards [SFAS] 133, 141, and 142, and two draft AICPA Statements of Position [SOP], one on nontraditional, long-duration products and another on internal replacements. Discussion from participants is included.

Description: This presentation is an open forum, session number 45OF, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists provide an opportunity for participants’ questions to be addressed, including questions submitted in advance, on any valuation symposium issue, including financial reporting, valuation, and tax topics.

Description: This session from the 1993 Valuation Actuary Symposium discusses opinion and memorandum issues facing the appointed actuary including the criteria used to form an opinion, analyzing year-end testing, documentation needed, reliances, how to handle a qualified opinion and options other than cash flow testing.

Description: 1998 Valuation Actuary Symposium. The panelists provided background about the Unified Valuation Law model, how we got here, what's going on today in 1998, and what we can look for in the future.

Description: Panelists discuss: [1] Practice Bulletin 8 that was written for FAS 97, [2] Purchase GAAP [PGAAP], and [3] GAAP for re-entry term products. Session 10 of the 1991 Valuation Actuary Symposium.

Description: 1990 Valuation Actuary Symposium Proceedings on sessions 7 and 13. The discussion for both workshops covered three major topics: l. Asset segmentation 2. Measuring investment results 3. Measuring interest margins.

Description: Panelists provide background and updates on a number of statutory issues relating to life and annuity products, including statutory codification implementation, Actuarial Guideline MMMM, Actuarial Guideline AXXX and implications of the movement to the 2001 CSO table. Changes to federal reporting requirements, through the Sarbanes-Oxley Act, are briefly discussed relative to the recent accounting problems in the news. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 78OF of the Boston Annual Meeting.

Description: This session at the 1998 Valuation Actuary Symposium looks at mergers and acquisitions in the insurance business. Recent examples and actuarial considerations in M&A transactions are discussed.