Description: This article discusses tax and accounting issues that arise under a recently-issued Chief Counsel Advice in which the IRS applied a life insurance company tax rule to a nonlife company that issues life insurance products

Description: This article is designed to provide a statistical method for reviewing the accuracy of the incurred but not reported IBNR life claim liability estimates from prior points in time.

Description: On June 17, 2019, the Internal Revenue Service published Final Regulations implementing changes to loss reserve discounting under section 846 of the Internal Revenue Code made by the Tax Cuts and Jobs Act. This note addresses changes made in the Final Regulations, particularly modification of rules for determining the interest rate used for discounting, in response to comments from taxpayers on the proposed regulations.

Description: The NAIC is expected to adopt the model regulation for the 2001 CSO table in late 2002. The question then becomes: how quickly will states adopt the table? In the absence of a push by the insurance industry, there is a chance that there may not be 26 state adoptions in 2003.

Description: This article compares and contrasts the new 2017 CSO tables to the 2001 CSO tables and discusses considerations and possible implications of the new tables on reserves and the implementation schedule of the new tables.

Description: This article highlights features of the SOA's Regulatory Web Resource. The intent is to encourage greater use of the Resource among section members.

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

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: This article discusses the new valuation concepts under Regulation XXX and the practical issues that need to be addressed by companies.

Description: This article discusses the reservations small companies may have about the Principles Based Valuation proposal. Instead of prescribed methods, assumptions, and tables for statutory reserves, they would be computed based on actuarial judgment in accordance with standards of practice. of practice.