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: Practical Considerations for Implementing the New Statement of Position for Long Duration Contracts and Separate Accounts .

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

Description: The article described two methods for calculating the benefit ratio described in AICPA Standard of Practice SOP 03-1. Method 1 calculates the benefit ratio as the quotient of the expectation of A and the expectation of B where A is benefits and B is assessments. Method 2 calculates the benefit ratio as the expectation of the quotient of A and B.

Description: Feature article discussing the synergies between Principle Based Reserves and the NAIC’s Own Risk and Solvency Assessment (ORSA).

Description: Feature article discussing assumption committee development and their role.

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: This article is to outline the new requirements for valuation rates in VM-22, highlighting key differences and example calculations to enhance understanding.

Description: Embedded Risk in Settlement Options on Older Life and Annuity Contracts

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