Description: Two experts in the reinsurance world discuss new developments in two topical but somewhat unrelated areas: the optional federal charter and offshore reinsurance. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 50PD of the New Orleans Annual Meeting.

Description: In PLR 202109001, the IRS ruled that a proposed assumption reinsurance transaction between related foreign parties changing the counter party obligated to a domestic corporation (“Taxpayer”) under an existing agreement did not give rise to Taxpayer being treated as making a base erosion payment (“BEP”), as Taxpayer did not receive a deduction under §832(b)(4)(A) from the amount of gross premiums written on insurance contracts during the taxable year for premiums paid for reinsurance.

Description: This article summarizes Munich Re’s annual survey for 2010, which covers U.S. and Canadian individual and group life reinsurance new business production and in force. The numbers are further subdivided into: 1 Recurring reinsurance 2 Portfolio reinsurance and 3 Retrocession reinsurance. Production is down across the board.

Description: This presentation is an open forum, session 49OF, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. Insurance and reinsurance companies have sought to pool their risks with others as a means of sharing risk as well as reducing volatility. The panelists provide a history of pool reinsurance and discuss how, unfortunately, participating in a pool can result in surprises and exposure to liabilities never anticipated. They discuss why many of these surprises have occurred, review actual case studies, and discuss what companies and reinsurers are doing to reduce and/or eliminate mistakes going forward. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 2.

Description: State insurance regulators discuss transfer of risk, letters of credit, surplus relief, mirror reserving, offshore reinsurance, and accounting credit for reinsurance. From the 1987 Record of Society of Actuaries, Vol. 13, No. 4B.

Description: This presentation is a panel discussion, session number 3PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists, including an attorney, a rating agency representative, and a state examiner, discuss regulatory and accounting issues relating to reinsurance, focusing on statutory accounting. They discuss risk transfer and other requirements, which if not met can cause the loss of reinsurance credit, how rating agencies evaluate the quality of reinsurance, what state examiners look for when reviewing reserve credits, how to perform due diligence on reinsurers, how to structure transactions to provide maximum security, and special issues associated with international reinsurance.

Description: Read the Quo Vadis Reinsurance.

Description: Jennie McGinnis, FSA, MAAA, CERA, SVP at Swiss Re, discusses her career in Reinsurance and her involvement in the Society of Actuaries.

Description: Provides: [1] the eulogy for John Culver Wooddy [1915–1987], and [2] a complete copy of the 'Guidelines for the Auditing of Administration and Reporting of Individual Life Reinsurance Assumed' developed by the Reinsurance Section. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.

Description: When annuity products became prevalent in the U.S., they all looked more or less the same. It was where folks put their safe retirement money, yielding modest guaranteed returns with a menu of payout options to help secure their retirement. Over time, this commoditization lead to a pricing squeeze and an exhaustive set of product options and features, exposing carriers to market and policyholder behavior risk over the past decade or so.