Description: At the end of December 2020, Congress enacted the Consolidated Appropriates Act, 2021, which included revisions to Section 7702. Effective for policies issued after December 31, 2020, the fixed 4% and 6% minimum annual effective rates under these tests were changed to refer to a market-based rate called the “insurance interest rate”. For contracts issued in 2021, the insurance rate was set to 2% - defined as the lower of the Section 7702 applicable federal interest rate based on the 60-month period ending December 2019 (2%) and the Section 7702 valuation interest rate in effect for 2020 (3.5%). This reduction in the rates used for compliance testing required significant product, operational, and technology changes for companies to reach product compliance. After 2021, the insurance interest rate is redetermined annually with a minimum change floor.

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: 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: State regulators continue to focus on the emergence of private equity firms purchasing life insurance companies, supporting reinsurance transactions, and the growing trend in life companies owning more complex assets. Modeling of complex assets is also growing in focus to balance risk and return parameters in forward financial models and asset adequacy testing. Hear from actuaries, regulators and rating agencies as they present the latest developments for the future of the intersection of private equity and life insurance companies and the potential for new regulatory guidance.

Description: This article provides an alternative method to the computation of the Reduction in Benefits Test under 7702A. Part 1 provided for reduction in death benefits. Part 2 provides for reduction in Qualified Additional Benefits.

Description: The qualification of life insurance under Sections 7702 and 7702A can often be complex and result in inadvertent instance of noncompliance for life insurance companies. This session with explore the complexities of product tax compliance from a due diligence perspective as well as discuss other alternatives companies may have as they administer reductions in benefit under Section 7702A.

Description: A recap of the SOA Research Institute's participation in the NAIC Spring 2023 meeting

Description: In the light of growing adoption of AI in life insurance and with it a growing emphasis on the need to safeguard the data used against reidentification,traditional approaches to de-identifying data mitigate these risks but often fail to protect against more sophisticated attacks. Find out more about data anonymization methods, geographic differences in regulation (PIPEDA, HIPAA) and special considerations when dealing with particular data types By attending the session, you will: Gain knowledge of various data anonymization techniques and understand the differences in how data anonymity is defined across different regulatory schemes.

Description: Explore various aspects of the Asian reinsurance market in this webcast. Learn about the landscape within the market as speakers cover key topics like product perspectives, structured solutions and emerging trends and issues. Take an in-depth look at the post COVID-19 impact, as well as regulatory considerations that could affect the Asian reinsurance industry. Secure your spot in this opportunity and dive into the direction of this marketspace.

Description: Explore the findings from the research paper recently released by Milliman and the SOA, highlighting the growing need for support of informal/family caregivers. We will discuss both quantitative and qualitative data that illustrates not only the cost and burgeoning need, but the mental/emotional stressors that come along with this work.