Description: Illustrates the effects of different approaches to updating GAAP valuation assumptions for traditional life contracts.

Description: Development of relevant industry mortality experience for different market segments. Details about the 2017 CSGI Mortality Table for guaranteed issue products.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: This article discusses a number of product variations seen in the market with respect to Universal Life products with secondary death benefit guarantees, factors leading to those designs and considerations regarding the adequacy of reserves that emerge under AXXX formulas. This article also identifies a series of factors that authors believe will make it difficult to quickly and equitably resolve these issues through formula-based changes.

Description: Compares Term VM-20 modeled reserves at low credibility factors.

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

Description: Actuary/accountant/tax attorney dialogue on recent guidance issued regarding treatment of deficiency reserves with respect to the “statutory reserves cap” of Internal Revenue Code section 807(d)(1).

Description: Mortality Credibility and its use within VM-20.

Description: Continued look at unlocking of traditional contract valuation assumptions, this time examining the frequency of true up for actual experience.