Description: discussion of the ongoing developments in reserving and risk-based capital RBC requirements for variable annuities including stochastic scenario projections

Description: This abstract describes a paper that generalizes the Poisson process to a renewal process, especially Erlang (n) renewal processes.

Description: This report presents the formal recommendation for a new mortality basis for individual annuity valuations. From Transactions of Society of Actuaries 1981, Vol. 33.

Description: The decrease in interest rates over the last several years has led to decreases in the maximum valuation rate and maximum nonforfeiture interest rate, and companies need to prepare for these changes.

Description: This session at the 2004 Valuation Actuary Symposium provides an overview of statutory valuation issues for life and annuity products including the Actuarial Opinion and Memorandum Regulation, variable products reserving standard, adoption of 2001 CSO, C-3 Phase II RBC project and nonforfeiture changes.

Description: This paper provides illustrative examples of using a Paid Claims Projection model to estimate claim reserves for products in the runoff and a Cash Flow Testing model to determine longevity and profitability of existing products.

Description: The article discusses the developments thus far with the adoption of the NAIC Valuation Manual and what steps still lie ahead. It also discusses the NAIC Life Actuarial Task Force’s response to the NAIC’s VM-20 Impact Study. In general, outcomes of the Phase III testing support the suggestion that the modifications made to VM-20 as a result of the NAIC Impact Study made progress in addressing the excessive conservatism demonstrated in the Phase I and Phase II testing.

Description: A pension actuary and a life actuary collaborate to express public pension liability and asset issues in terms and figures that an insurer would use

Description: Discussion of the biases understatement of risk/reserves that arise when aggregating cells in modeling Variable Annuity Minimum Guaranteed Death Benefits

Description: Hear from companies & consultants that early adopted VM-21 for year-end 2019. Learn from their experiences in preparing for the significant additional work required for implementation - updating models, assumptions, documentation, etc. Hear about the NAIC review and feedback (if available).