Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.

Description: Haven’t we all been watching for the next big financing transaction and wondering whether it will be done by a reinsurer or an insurer? Also will it support XXX reserve redundancies or will the market have finally “cracked the code” for the financing of AXXX reserves?

Description: The current life insurance development with a focus on the latest regulation change from actuarial perspective and its possible impact to the Vietnam industry.

Description: Article summarizes how life insurers have financed redundant XXX and AXXX reserves in the past and how methods may change under principle-based reserves.

Description: Section 807d of the IRC provides that the deductible reserve for a life insurance contract is the greater of net surrender value or the Federally Prescribed Reserve FPR calculated under prescribed interest rate and mortality assumptions, but in no event can the tax reserve exceed “aggregate statutory reserves” i.e., the statutory cap. This article logically concludes that deficiency reserves are included in the calculation of the statutory cap.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: This article summarizes recent proposed changes to the Valuation Manual that might take effect for 2019 valuations for PBR business.

Description: This article summarizes VM-31 updates to the 2018 and 2019 Valuation Manuals, and considerations for PBR Reports based on findings from the 2017 submissions.

Description: The Revenue Act of 1987 amended section 807d2B of the Internal Revenue Code. It established the interest rate used in the calculation of tax reserves to be the greater of the applicable federal interest rate or the prevailing maximum statutory valuation rate for the contract’s calendar year of issue. The amendment is effective for contracts issued in tax years beginning after December 31, 1987. This document shows all the applicable federal interest rates from 1998 - 2009.

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