Description: This report, prepared by Advisory Subgroup I, was included as Appendix 3 of the 1987 Valuation Actuary Handbook. This advisory subgroup, or committee, was appointed by the New York Insurance Department and chaired by Donna Claire. This committee was charged with developing suggested regulations to deal with the concept of the Qualified Actuary and Actuarial Opinion and memorandum in accordance with New York’s recently amended reserve and nonforfeiture laws for guaranteed interest contracts and annuities with and without life contingencies. The actual regulation, New York Regulation 126, combines the work of the committee with Subgroup II, which focused on minimum reserve standards.

Description: A discussion of the need to connect the interrelated requirements of reserve requirements, capital requirements, risk management, IASB requirements and so forth.

Description: In Canada, the actuarial considerations involved in developing financial reporting and disclosure principles have for some years been under active study by the Canadian Institute of Actuaries CIA and others, with a goal of moving toward one system of financial reporting for all users. The author discusses current proposals starting with a 1974 report released by the CIA, and the work of an Advisory Committee with members from the actuarial and accounting professions, industry, and Provincial Insurance Departments, appointed by the Federal Superintendent of Insurance, which completed its work in the form of a written report.

Description: View the complete issue for the August 2014 Reinsurance News newsletter.

Description: Discussion that reinsurance regulation is driving the amount and hence the cost of capital and hence the ability of reinsurers to price products competitively

Description: Update on Total Asset Requirements for statutory reporting of reserves and surplus for Variable annuity products with guarantees

Description: Reflections of a Regulatory Actuary by Larry Gorski