Description: This webcast compares and contrasts four key regulatory capital regimes for life insurers around the world: Risk-Based Capital (RBC) in the United States, Life Insurer Capital Adequacy Test (LICAT) in Canada, Solvency II in the European Union and the Bermuda Insurance Solvency (BIS) Framework in Bermuda.

Description: This presentation is an open forum, session number 21OF, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. In this open forum, the panelists address the requirements under statutory codification, and the approaches being used to meet these requirements. Topics include policy classification, deferred taxes, disclosure, state differences, and implementation issues. Discussion from participants is included.

Description: As the size of the life reinsurance market in Bermuda has grown to over half a trillion dollars at the end of 2021, more and more actuaries are getting involved with this 21 square mile North Atlantic island in one way or the other. Come explore a fundamental understanding of the Bermuda solvency framework and an overview of its upcoming changes.

Description: Gain insight into lessons learned from VM-20 implementation and recent regulatory updates such as the introduction of future mortality improvement (FMI), changes to the economic scenario generator (ESG), and the recently adopted AG AAT. By attending the session, you will: •Have a high-level overview of recent VM-20 updates and hot topics, such FMI and ESG updates•Understand the challenges presented by PBR implementation, and the implications of performing multiple critical and required system updates simultaneously•Improve your understanding of the development and implications of the AG AAT

Description: In light of the bankruptcies of Enron and WorldCom, this panel at the 2003 Valuation Actuary Symposium addresses legislative and regulatory activity, potential implications for the regulation of professions in the United States, and implications for valuation actuaries.

Description: This session will be centered around the roles and responsibilities of a valuation actuary. Learn the best practices of health actuaries, along with technical considerations and professionalism issues surrounding the calculation and reporting of health liabilities and reserves. This session will focus on key actuarial liability and reserve provisions, including Claims Unpaid and Premium Deficiency Reserves. In this session, explore new ideas about calculation methods and the importance of the underlying assumptions. You will also learn best practices and practical applications concerning reserve calculation discuss best practices regarding the preparation of an actuarial memorandum supporting a Health Annual Statement. This will include key considerations from the American Academy of Actuaries' Practice Note about documenting and supporting the actuarial calculations. The discussion will also present views and considerations from both the insurer's and the regulator's perspectives.

Description: To some degree, we all operate in an environment influenced by regulation and accounting standards. This session builds on the first session in this series by considering how regulators are reacting to the biometric influencers, then delving into the impact of changing accounting standards on how firms assess, value and report on their business. Consideration will be given to uncertainties around pending regulation, including those uncovered in the process of firms implementing Principles Based Reserving and those yet to come with modifications to GAAP. This session is for anyone interested in better understanding the impact and influence that regulatory and reporting uncertainty has on their work.

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: The article reviews the creation and interpretation of federal tax law, with specific application to the life insurance industry

Description: This session will kick off the key National Association of Insurance Commissioners (NAIC) activities, with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. The presenters will provide insights into the current set of activities and initiatives being considered by the NAIC Life Actuarial Task Force (LATF) and Life Risk-Based Capital Working Group, as well as activities being undertaken by American Academy of Actuaries committees and work groups.