GAAP forecast projections have become materially more complex with the introduction of Long-Duration Targeted Improvements (LDTI) and need to project Future Policyholder Benefit (FPB) and Market Risk Benefit (MRB) reserves. In this session, you will hear company, auditor and software vendor perspectives as the focus is on requirements and best practices related to projecting the LDTI financials in a timely and understandable manner, including:
· The need for nested-processing for both FPB and MRB reserves
· Modeling outer-loop stresses
· Modeling inner-loop responses to outer-loop stresses
· Rolling the financials forward
· Reflecting reserve unlocks within the appropriate projection quarters
· Identifying the impact of assumption unlocks vs. actual-to-expected in projected rollforwards
· Managing the model and data-updated forecast dashboards for management
Learning Outcomes:
Attend this session and you’ll:
· Better understand of actuarial practices and pitfalls related to forecasting GAAP financials under LDTI.
1.20 SOA CPD
1.00 CIA