Description: An overall analysis and attribution analysis of the impacts of the 2017 Tax Cuts and Jobs Act for certain life insurance contracts.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date and recent discussions and decisions on the treatment of non-guaranteed reinsurance.

Description: Article outlining the recent activity of the NAIC Life Actuarial Task Force LATF VM-20 Subgroup activities and the Academy’s Life Reserve Working Group dealing with feedback from the VM-20 impact study.

Description: Summary of SOA research report "Optimizing Risk Retention" which applies parametric survival models and Monte Carlo simulation to a block of term life business.

Description: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: This paper develops explicit relationships connecting these reserve bases, and, in the course of this development, derives several new and interesting actuarial relationships, all of which can be generalized to the case of monthly premium payment computations. Followed by a discussion paper submitted

Description: The author explores reasons why blocks of business may become legacy blocks and discusses ways to decrease the likelihood of legacy blocks in the future.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: The article discusses recently-issued regulations under section 807 of the Internal Revenue Code, concerning the computation and reporting of reserves. The provisions addressed generally relate to the Tax Cuts and Jobs Act of 2017.