Description: Description of FASB redeliberations on targeted improvements for long duration contracts as of the end of 2017, including a summary of the anticipated impacts

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: This article summarizes the results of the survey covering industry practices relating to the valuation of variable annuities under FAS 133/157 including implied volatility parameters used in the FAS 133/157 liability scenario generator, non-performance risk and liquidity premium adjustments to discount rates, as well as the determination of risk margins.

Description: A pension actuary and a life actuary collaborate to express public pension liability and asset issues in terms and figures that an insurer would use

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: Feature article discussing the results of a recent ULSG AG38 Valuation Research Report.

Description: Discussion of the biases understatement of risk/reserves that arise when aggregating cells in modeling Variable Annuity Minimum Guaranteed Death Benefits

Description: CARVM Reserves for Variable Annuities with Guaranteed Living Benefits by James W. Lamson from The Financial Reporter, June 2000, Issue No. 42.

Description: Perspectives on the Valuation Manual.

Description: The article focuses on GAAP accounting for indexed products with riders; specifically, how rider charges should be addressed in FAS 133 reserves, estimated gross profits for FAS 97, and company financial statements.