Description: This article analyzes two common interpretations of SOP 03-1 in determining the guaranteed minimum death benefit GMDB liability in a variable annuity contract, and it analyzes the resulting impact on the initial GMDB reserve and on the volatility of GAAP earnings as actual experience emerges. This analysis could be applied to the guaranteed minimum income benefit GMIB, guaranteed minimum accumulation benefit GMAB, guaranteed minimum withdrawal benefit GMWB and other guaranteed benefits in a variable annuity contract that are subject to SOP 03-1, and the conclusions would be similar.

Description: Presented at May 1985 Spring Meeting. This session discussed: Guidelines for the Reporting of Self-Administered Reinsurance, What are the proposed guidelines, Why are they necessary, How will ceding companies be affected, What is the impact of recent auditing and U.S. Tax law developments.

Description: A summary of regulatory developments related to principle-based reserving.

Description: Discusses how frequently should interim financial statements be prepared and how complete should they be, methods for estimating or computing reserve liabilities and other items, use of interim statements to forecast year-end results and methods for doing so.

Description: Presented at the March 1975 Spring Meeting. Discusses whether traditional valuation principles can provide as much financial security in the future as in the past, including GAAP, impact of changing asset values on cash flow, and regulatory developments.

Description: A discussion of European CFO Embedded Value Guidelines

Description: This article demonstrates how returns on GAAP capital are related to the internal rate of return, which is calculated on a statutory basis. The purpose of this paper is to further develop this relationship.

Description: This paper describes a method of interest allocation which relies on a computerized model of invested assets. Characteristics of this method, known as the investment generation model method, are discussed in relation to other allocation methods in current use and in relation to desirable criteria of interest allocation given in this paper. The paper concludes by identifying important management benefits associated with this method of allocation. Followed by 2 discussion papers submitted

Description: Presented at May 2002 Spring Meeting. Discusses changes to reserving and tax regulations and the implications they have on product development.

Description: For establishing the ongoing adequacy of claim reserves for blocks of long-term care insurance, retro testing is a blunt tool, the results of which are not conclusive. Claim reserve retro tests should be reviewed by claim duration, include the impact of interest consistently, and include updated assumptions that can have an impact on claim termination rates or other factors. The new NAIC LTC Experience Reporting Forms estimated to arrive for reporting year 2008 will help modernize LTCI retro tests, providing additional accuracy and standardization. Actuaries should not wait for these forms, but rather ensure that any claim reserve analysis moves beyond a basic calendar year retro test.