Description: Feature article about the transitioning of life insurance products to RBC C3 Phase III.

Description: Feature article discussing quantitative impact studies, QIS5, on Solvency II.

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: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.

Description: As a follow-up to a previous five-part series on accounting for ceded reinsurance under LDTI, this article focuses on one issue that has, until now, been left without a general solution—how to measure the reinsured portion of a direct loss from capping a net premium ratio or flooring a liability. After acknowledging limited guidance on the issue, the article describes the various events that can lead to a loss, how reinsurance protects against loss, and how that is translated into formulas for measuring the reinsured portion of a loss.

Description: Importance of non-GAAP operating earnings

Description: The article highlights the key components of the PBR resource manual and analyze its implications for companies' assumption management practice.

Description: We explore the considerations regarding discount rates in the new US GAAP Targeted Improvements, including selection of observable rates and methods for extrapolations rates where there is no observable data.

Description: Articles appearing recently in other publications that may be of interest to financial reporting actuaries.

Description: This article highlights the key implications and insights as a result of the change to the determination of reserves under GAAP accounting guidance for insurers with long-duration liabilities due to Accounting Standards Update (ASU) 2018-12 (“LDTI”) for IDI and LTC products.