Time: 1:30 – 3:30 PM CT Join PolySystems and the Society of Actuaries for our highly sought-after series of virtual reserves seminars on Generally Accepted Accounting Principles (GAAP) in Long Duration Targeted Improvements (LDTI).
Time: 1:30 – 3:30 PM CT
Join PolySystems and the Society of Actuaries for our highly sought-after series of virtual reserves seminars on Generally Accepted Accounting Principles (GAAP) in Long Duration Targeted Improvements (LDTI).
This seminar will take a closer and more nuanced look into the complexities of market risk benefits as well as discuss some emerging issues related to GAAP LDTI for deferred annuities. Through case studies and spreadsheet examples, attendees will gain a better understanding of new LDTI requirements, the impact of these requirements and the developing practice being established to address challenges brought about by LDTI.
The Advanced LDTI for Deferred Annuities Seminar will focus on market risk benefits (MRBs) and covers the following:
· What is a market risk benefit?
· Fair value approach and requirements of ASU 2018-12
· Attributed fee methodology vs the Option Approach
· Pro and cons of seriatim vs cohort level MRB calculations
· Different interpretations of the Option Approach: What to do when fees are not sufficient to cover the benefits
· Retrospective transition issues
· Attribution analysis
· MRBs on indexed annuities: Dynamic resets of product features in a risk neutral framework
In addition to MRBs, the seminar will discuss appropriate amortization bases for deferred annuity products and demonstrate two accepted practices for calculating the experience adjustment.
With GAAP LDTI, the devil is in the details, and attendees will be exposed to topics they might not have previously considered. A limited amount of time will be available at the end of the session for questions submitted via the presentation app.
Topics will be illustrated with comprehensive worksheet examples. Course material, consisting of a set of presentation slides and spreadsheet files, will be distributed via email prior to the seminar.
If you are also interested in an introduction to GAAP LDTI or statutory reserving methodologies for deferred annuities, please consider attending the June 22–June 24 Deferred Annuities Reserves Seminar sessions.
Advanced LDTI Reserves for Deferred Annuities / MRBs
· GAAP LDTI: Market Risk Benefits
· GAAP LDTI: DAC / SIA / VOBA Amortization
· Interactive / Questions
PolySystems develops and maintains actuarial software solutions for life, health, and annuity insurance products that are used in over 100 companies for financial reporting and modeling requirements, including valuations, projections, experience studies, source of earnings, and most recently, the new FASB regulations pertaining to GAAP LDTI. Our team of experienced actuarial consultants routinely helps PolySystems clients with critical implementation projects including data management and model design, validation, and testing.
As an industry leader in U.S. reserving methods and techniques, PolySystems has been cosponsoring this Reserves Seminar with the Society of Actuaries (SOA) for over a decade. PolySystems has 100 actuaries and IT professionals working in Chicago, New Jersey, and South Carolina to meet actuarial software needs at both the product and enterprise level.
The SOA is the largest global professional actuarial organization. With unmatched research and education, and more than 30,000 of the highest skilled actuarial professionals, we prepare the individuals trusted to drive better business decisions and promote financial security in an ever-changing world.
John Adduci, FSA, MAAA, is a vice president at PolySystems and has more than 20 years of experience in the insurance industry. Adduci works on the client and consulting team, where his responsibilities include the installation of financial reporting software, on-site training and client support. He has been involved in numerous implementations of PolySystems deferred annuity, payout annuity, traditional life, universal life, and health software for U.S. and international clients including statutory, tax, U.S. GAAP and international accounting standards. Most recently, Adduci has been working on LDTI implementation projects at several large clients. John is a frequent presenter at industry meetings, including the SOA Annual Meeting, Valuation Actuary Symposium, Equity Based Insurance Guarantees Conference, Southeast Actuaries Annual Conference, and these Reserves Seminars.
Below is information regarding the pricing of the event, how to register and payment options. If you have any questions about any of the information, please reach out to Customer Service.
Individual Registration (one access code – no broadcasting)
Company Rate – 3+ from the same company **
** You may select from the drop-down option if 3 or more people from your company are attending. If you need to confirm eligibility for this discounted, rate please email Lisa Collins at email@example.com
- Log in instructions
- One access code to the live virtual event
- One set of presentation materials
- One Internet connection for streaming only
- Full payment is required at the time of registration.
- Register online, via credit card, received no later than the registration close date. An order confirmation of your registration will be sent by email.
- Refunds will not be issued.
- The SOA is considered a not-for-profit corporation in Canada and therefore needs to collect applicable taxes. Based upon your primary residency or company address, the appropriate tax will automatically be calculated for you during the online registration process.