Description: This article helps companies better understand the currently proposed upcoming VM-22 regulation by comparing the VM-22 measurement model to LDTI MRBs. The article highlights key considerations as companies plan for adoption of these two measurement models. These considerations should help inform a company’s strategy related to the business impacted by these standards.

Description: A lot is happening in the annuity industry. Understand key developments in annuities and their implications to product actuaries. Learn about recent product and market trends in fixed, indexed and variable annuities. Explore emerging regulatory requirements affecting annuities, such as VM-22 and Best Interest rules, as well as how they may impact product development. By attending the session, you will: - Learn about recent product and market trends in annuities. - Be informed of key emerging regulatory developments affecting annuities. - Understand how these developments may affect product development.

Description: Sidecars have become prominent in the US Life & Annuity industry as an alternative reinsurance structure by which Life & Annuity insurers can access third-party capital, and new capital providers can support insurers in de-risking their balance sheets. This session will provide an overview of life & annuity sidecars and the panel will include both actuaries as well as a lawyer to provide a holistic set of considerations for insurers and investors.

Description: Almost half of recent FDA approvals have been for orphan drugs. This trend is expected to continue in 2023. Orphan drugs are priced more than 30 times higher than non-orphan drugs, therefore their cost burden in aggregate has the potential to overwhelm the budgets of payers, especially that of smaller health plans. Hear how the cost impact analysis for smaller health plans require different considerations than for a larger health plan when modeling the impact of rare diseases.

Description: IFRS 17 and US GAAP LDTI represent the biggest accounting changes for life insurers in decades and both become effective starting January 1, 2023. While many are familiar with the forthcoming changes under either IFRS 17 or LDTI, users of financial statements will need to be able to translate between the two accounting models (or at minimum, understand both models) when reviewing the financials of multi-national insurers. Learn about earnings expectations under both accounting models and compare and contrast product features performance, measurement requirements (including key policy decisions), and financial statement presentation under IFRS 17 and LDTI for traditional life insurance products. Explore illustrative examples as well as anecdotes from first-hand implementation experience to solidify the key themes and insights. By attending the session, you will:•Understand the impacted components of the financial statement for both IFRS 17 and LDTI as well as be able to translate between the two different presentations.•Describe the key methodology differences between IFRS 17 and LDTI and how those differences will impact earnings.•Describe the advantages and disadvantages of accounting for an insurance product under IFRS 17 versus LDTI.•Describe expected earnings impacts for traditional life products under both IFRS 17 and LDTI.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: It is time to'go live with ASU 2018-12, otherwise known as long-duration targeted improvements (LDTI). For companies that have single premium limited payment contracts, additional work will be necessary under LDTI if the contracts are currently utilizing a break-even discount rate to defer the excess of the gross premium over the net premium, i.e. the deferred profit liability. This is mainly driven by requirements under LDTI to update for actual experience and review assumptions at least on an annual basis. This session is designed to cover LDTI implications specific to carriers of single premium limited payment contracts, including changes to how deferred profit liabilities are calculated going forward under LDTI and their impact to financial statements. By attending the session, you will: - Identify the LDTI implementation issues impacting their immediate annuity business. - Determine how balances will be established at transition. - Describe the explicit DPL calculations required going forward under LDTI, and their impact to financial statements.

Description: In this Determining Appropriate Sensitivity Tests webcast, explore sensitivity testing effectiveness, the important difference between sensitivity and stress testing and more. Understanding sensitivity testing is critical to actuarial work, especially in order to properly assess and evaluate risk factors. Come explore approached to sensitivity tests and effective evaluations of sensitivity test results in order to elevate your knowledge within the actuarial science field.

Description: Explore LDTI impact to life pricing profit metrics and discuss considerations in life product development to be ready for LDTI. By attending the session, you will: Be able to better understand LDTI impacts to life product pricing and be prepared for the LDTI implementation.

Description: As an addendum to a July 2022 article, this article restates the formulas then presented for a framework to measure the reinsured portion of a direct loss from capping a net premium ratio or flooring a liability. The article corrects a flaw in one of the original formulas and shows, by example, how the framework can be applied to a specific application of reinsurance accounting.