Description: The article described two methods for calculating the benefit ratio described in AICPA Standard of Practice SOP 03-1. Method 1 calculates the benefit ratio as the quotient of the expectation of A and the expectation of B where A is benefits and B is assessments. Method 2 calculates the benefit ratio as the expectation of the quotient of A and B.

Description: Panelists discuss many developments over the year 1992 that impact the valuation actuary. Session 1 of the 1992 Valuation Actuary Symposium.

Description: From a teaching session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of realistic liability models for use in asset adequacy analysis, asset/liability management, pricing/repricing, financial reporting, or other purposes.

Description: This discussion at the 1968 Philadelphia Regional Meeting focuses on issues for smaller companies including expense analysis, adjusted earnings, variable annuities, agency operations, and interim financial statements.

Description: In session 118 TS of the Washington Annual Meeting panelists discuss the growth in variable annuities and the increased insurance industry exposure to mortality risk associated with GMDB. The focus of this session is on current practices in the areas of reserving for GMDB and modeling the GMDB risk. From the Record of the Society of Actuaries, Vol. 23, No. 3.

Description: 1999 SOA Annual Meeting, San Francisco. The panelists provided a brief description of the guaranteed benefits offered on Variable Annuities in both the U.S. and Canada, followed by an in-depth comparison of current issues, including risk assessment, reserving, and cash-flow testing.

Description: This discussion at as SOA 1968 Regional Meeting focuses on issues for smaller companies including expense analysis, new products, variable annuities, interim financial statements, and taxes.

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.

Description: New York’s Regulation 126 effectively requires all companies doing business in New York to file an actuarial opinion and memorandum on their annuity and GIC business. This article attempts to answer 13 of the most commonly asked questions about this regulation.

Description: Accounting Standards Update (ASU) 2018-12, commonly referred to as long duration targeted improvements (LDTI), is the most significant GAAP accounting change impacting the life insurance industry in the past 40 years. This article discusses the impact of LDTI on variable annuities (VA) and fixed indexed annuities (FIA) from a product development and in-force management angle. Detailed discussion topics include hedging and ALM, product strategy and development, and pricing. LDTI will cause many VA and FIA writers to re-evaluate their hedging and asset liability management (ALM) strategy following the move to fair value accounting under the new MRB requirement. Stakeholder appetite for accounting volatility and resulting changes to hedging and ALM may trigger changes in product mix and designs. In addition to updating pricing infrastructure to handle the new requirements, pricing actuaries will need to produce analyses to educate stakeholders on the risks and pricing implications of any changes to designs, hedging and ALM.