June 08, 2018
Embassy Suites Chicago Downtown
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Registration is now closed. The SOA Customer Service Center is available to assist you Monday through Friday, 8:00 a.m. to 5:00 p.m. CDT. Please call +1-888-697-3900.
The Society of Actuaries and PolySystems are co-sponsoring their annual Reserves Seminars this June. The seminars offer a comprehensive and hands on look at on the latest U.S. reserving principles for VM-20, traditional life, universal life and deferred annuity products.
All actuaries learn about reserving principles while in school or studying for exams. However, applying reserving principles as part of a company’s financial reporting process requires additional education that cannot be provided by a book.
The Reserves Seminars have been specifically designed by PolySystems to demonstrate how to apply the fundamental principles of reserving to the practical, on-the-job demands of statutory, GAAP, and tax financial reporting.
Registration is open to all. The concentrated syllabus and classroom style atmosphere of each seminar provides an environment in which new students and senior management alike will expand their knowledge and learn from actuaries with broad and deep experience in valuation processes.
About The Sponsors
The Society of Actuaries (SOA) is the largest global professional actuarial organization. With unmatched research and education, and more than 28,000 of the highest skilled actuarial professionals, we prepare the individuals trusted to drive better business decisions and promote financial security in an
PolySystems is a leading provider of comprehensive valuation, modeling and experience study software to life, health and annuity companies. PolySystems’ core strength is designing software solutions that meet regulatory reserve requirements. Their integrated solutions can be used to calculate reserves and capital, run
asset/liability projections for CFT and planning, set assumptions, carry out sensitivity and stochastic analyses, manage inforce profitability, price products and more.
PolySystems has been co-sponsoring this Reserves Seminar with the SOA for over a decade and is an industry leader in U.S. reserving methods and techniques. PolySystems has over 100 actuaries and IT professionals working in Chicago, New Jersey and South Carolina to meet actuarial software needs at both the product and
Join us at the 2018 Deferred Annuity Reserves Seminar for a comprehensive, introductory-level session on U.S. reserving principles for fixed, indexed, and variable deferred annuity products.
Fixed and variable deferred annuities were introduced in the 1950s to take advantage of rising long-term interest rates in combination with deferral of income tax on the earnings. The basic contract design has experienced many benefit enhancements and is still popular today. The valuation of the product has
evolved to deal with enhancements as they have emerged.
The presentation begins with a review of the basic product design as a building block for reserving concepts. The presenters will walk through the essential concepts and build on the basics while explaining the features of today’s products and their impact on the reserve calculations. All topics are
illustrated with comprehensive worksheet examples that are made available to all participants. The seminar concludes with an overview and regulatory update on principle-based reserves.
Course materials will be distributed via email the week before the class. Class participants are encouraged to bring laptops or tablets to dive into the spreadsheet examples along with the presenters.
Features of Deferred Annuities
Fixed, indexed and variable deferred annuities
Elective and non-elective benefits
Guaranteed riders commonly attached to annuity products
Forces driving the development of deferred annuities
Procedures for establishing U.S. statutory balance sheet entries for these products
Actuarial Guidelines 33, 34, 35, 39 and 43
CARVM valuation regulation and practice
Tax reserve under the new tax reform legislation
Fixed traditional and variable annuities: DAC amortization, excess benefit reserves and sales inducements
Fixed indexed annuities: host contract, value of embedded derivative, and fair value
Emergence of earnings
of Principle-Based Reserves for Fixed Annuities (VM-22)
Who Should Attend
Registration is open to all. PolySystems has specifically designed this seminar to demonstrate how to apply the fundamental principles of reserving to the practical, on-the-job demands of statutory, GAAP and tax financial reporting. The concentrated syllabus and
classroom style atmosphere of each seminar provide an environment in which new students and senior management working as actuaries or other professionals will expand their knowledge and learn from actuaries with broad and deep experience in valuation processes.