Description: This article reviews the results for the 1997 Society of Actuaries 1997 fiscal year.

Description: This session from the 1995 SOA New York City Meeting focuses on current topics at the NAIC including life nonforfeiture law and actuarial guideline GGG and on actuarial standards in regard to financial reporting issues and current GAAP topics. From the Record of the Society of Actuaries, Vol. 21, No. 2.

Description: 1996 VALUATION ACTUARY SYMPOSIUM. This session was an introduction to the symposium and provided commentary on activities in LHATFA.

Description: 1998 Valuation Actuary Symposium. In this open forum questions were fielded by the panel of experts. Some of the questions: 1. How do you pick spreads for use in your reinvestment strategy? 2. What's generally being done in terms of dynamically modeling policyholder lapsation? 3. How do companies treat riders and dump-in premiums and estimated gross profits for GAAP? 4. What impact does the current interest environment have on testing you are going to do this year? 5. Are there any suitable techniques for trying to aggregate the variable products with the fixed products?

Description: This presentation is a Teaching Session, number 4A, from the 1987 Valuation Actuary Symposium. The subject of the session is Regulation 126, effective for year end 1986 for all companies doing business in New York, which requires an actuarial opinion and memorandum with respect to the adequacy of the assets to support the liabilities for annuities, guaranteed investment products, and related products. The instructor discusses areas of concern from New York as a result of the first year of filings, including completeness, call and prepayment assumptions, default assumptions [sometimes zero], surrender assumptions [too low], failure to reflect taxes, poor communication between actuary and investment department, length of projections, varying yield curves, reflection of reinsurance, and the most common reason for rejecting the opinion: using starting assets greater than liabilities. Other problems were illustrated through examples, and changes to Regulation 126 were discussed.

Description: 1993 SOA Meeting, Quebec. The new SVL has expanded the scope and responsibilities of the valuation actuary. Topics covered: • Risk of legal liability for actuaries? • Vagueness of actuarial standards related to adequacy testing? • Reliance on other company experts? • Consultants versus company actuary perspectives? • The science versus the art of the process?

Description: The purpose of this reports is to define topics and provide information on techniques currently available in support of the development of dynamic solvency testing, DST. The paper covers topics of the time frame for analysis, scenario interpretations, credibility, confidence standards and reliance guidance.

Description: This session at the 1998 Valuation Actuary Symposium looks at a variety of valuation issues including the Unified Valuation System, codification, the actuarial opinion and memorandum, and several annuity and life insurance reserving issues.

Description: This presentation is a panel discussion, session number 2PD, from the 2000 Valuation Actuary Symposium, held September 14-15 in Washington, DC. The panelists provide an overview of current statutory valuation issues pertaining to life and annuity products, to be covered in-depth at subsequent sessions. Topics include: new valuation table for life insurance NAIC Actuarial Guidelines [AG] for variable product guaranteed living benefits and for equity-indexed universal life [ZZZZ] amendments to the Actuarial Opinion and Memorandum Regulation [AOMR] progress on Unified Valuation System [UVS] Model Regulations on Separate Accounts Funding Group Contracts with Guarantees, and on Synthetic Guaranteed Investment Contracts [GICs] regulatory concern over liquidity and Regulation XXX mortality X factors.

Description: Presented at June 1996 Spring Meeting. The status of emerging issues in financial reporting is discussed, including the NAIC codification project and new developments with the SEC and FASB.