Description: This report covers the intercompany experience under standard Ordinary insurance between 1961 and 1962 anniversaries for medically and non-medically underwritten business. Gender analysis is provided for the period between 1957 - 1962 anniversaries.

Description: The first study of mortality specifically related to structured settlement annuities, covering experience years 1966 - 1989. Both standard and substandard lives were analyzed.

Description: This paper discusses simple interest, amortization and simplicity. The author asserts that compound interest is an improvement upon simple interest that makes the calculation of interest simpler. Likewise, exponential amortization is an improvement upon linear amortization that makes the calculation of amortization simpler. From Actuarial Research Clearing House 1990, VOL. 2.

Description: This paper looks at adjusted earnings, adjusted book value and net worth as a means of better measuring the performance of a life insurance company. The paper compares insurance company accounting to other entities and defines adjusted earnings. From Transactions of Society of Actuaries 1968, Vol. 20, Pt. 1, No. 56 AB.

Description: This report describes two methods, an observation-based analysis and an actual to model analysis, to analyze long-term care insurance experience to determine if calendar year trends exist.

Description: This is the abstract of a paper in which the authors develop sixteen separate mortality models based on the current SOA mortality data being used for the preferred life study. The models are constructed using projection pursuit regression. The sixteen models arise from all combinations of sex, smoker status, select and ultimate status, and per life vs. per dollar mortality rates. In general the models confirm the following four facts: 1 Mortality rates increase as attained age increases. 2 Mortality rates increase as duration increases. 3 Mortality rates decrease as Face Amount Bands increase. 4. Mortality rates decrease if preferred underwriting is present.

Description: The current drafts of the principle-based reserves PBR model law and accompanying regulations appear to include credit life insurance within the scope. It is expected that once the scope of PBR is expanded to include accident and health insurance, credit disability will fall within its scope as well. This article describes how will this affect credit actuaries.

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: The valuation manual is a living document that continues to evolve. As more companies adopt Principle-Based Reserving (PBR) and file PBR Actuarial Reports, regulators have observed gaps and inconsistencies across the industry. As a result, PBR reporting requirements (VM-31) have expanded significantly in 2020 and still continue to evolve. This session will provide attendees with everything they need to fill out their PBR reports for both Life business and Variable Annuity business. We will dig into the new changes effective for 2020 reporting and approved changes for 2021, and compare and contrast the Life and VA requirements to help companies identify areas that can be leveraged between the two. In addition, we will share insights from regulators, consultants, and company actuaries on what to include or exclude in your report.

Description: Covers mortality experience for Canadian standard ordinary life insurance policies for the period 1989 - 1990 anniversaries. Historical data is also shown from 1982 forward.