Within the current Generally Accepted Accounted Principles (GAAP), living benefits (GLWBs) in fixed index annuity products are typically accounted for under SOP03-1. Long Duration Targeted Improvements (LTDI) require companies to classify these riders as Market Risk Benefit (MRB).
During this webcast, the presenters will cover:
- Challenges and considerations of the MRB implementation
- Industry practices of the reserving approach
- Hedging and pricing implications