Description: Go over how the actuarial processes have changed over the past 10+ years with the move to PBR, US GAAP LDTI, IFRS 17 and other emerging requirements.

Description: 2021 ImpACT Conference -Insurance ALM Survey - Early Results and Best Practices Recording

Description: Reinsurance has become more frequently used in the annuity market along with large M&A transactions over the past few years. Discuss the market forces and the impact to the product development and pricing. By attending the session, you will: Understand the benefits of reinsuring annuities and the types of reinsurance used for annuities.

Description: Amid macroeconomic uncertainty, proactive lapse management is becoming a growing strategic focus for Life and Annuity carriers. Interest rates have been increasing rapidly during the last eighteen months and insurers, especially annuity writers, have started to see higher lapses and withdrawals. After a prolonged low interest period, many insurers will have to (re)build capabilities to enable proactive lapse management.

Description: Kick off with key National Association of Insurance Commissioners (NAIC) activities, with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. The presenters will provide insights into the current set of activities and initiatives being considered and/or adopted by the NAIC Life Actuarial Task Force (LATF) and the NAIC Risk Based Capital Working Group as well as Actuarial Standards Board. In addition, other Actuarial Practice Issues and other Appointed Actuary and Opinion topics relevant to Life Insurance, Variable Annuities and Fixed Annuities will be discussed.

Description: The SOA has conducted a mortality study covering deferred annuities, both fixed and variable. This is a brand new area of analysis for the SOA's Individual Annuity Experience Committee and should be of critical interest to the industry. Previous industry annuitant mortality studies have focused on payout annuities, as well as the specialized structured settlement annuity market. Traditionally, mortality had not been seen as a critical assumption for deferred annuities. As the products have evolved over time, especially with the popularity of enhanced death benefits for variable annuities and guaranteed living benefits for both variable and fixed annuities, mortality has taken on increased importance. The results of this study have recently taken on even greater significance, as regulators are seeking mortality assumptions for the standard projection scenario for VM-22 (fixed annuities), as well as a potential update to those assumptions in VM-21 (variable annuities). By attending the session, you will: - Understand how deferred annuitant mortality compares with established annuitant mortality tables. Note that annuitant mortality tables, including the most recent 2012 tables, were developed based on payout annuitant mortality experience. - Become aware of the differences in mortality experience between fixed and variable annuities. - Gain insights into the effect of various guaranteed benefits on anti-selection and subsequent annuitant mortality, both for death benefits and living benefits. - Understand the durational aspects of emerging mortality experience, particularly for deferred annuities with guaranteed benefits.

Description: 2021 Life Meeting - Session 1C: Earnings Pressure Impact on Annuity Product Development and the Insurance-Linked Securities Market

Description: China’s pension system has transformed from traditional retirement system based on command economy to modern pension system based on market economy .

Description: 2021 ImpACT Conference - Session 2B: Interest Rates May Be Rising...Now What Do We Do? 10.25.21 Recording

Description: Actuarial governance has become a standard industry practice over the past decade due to its strategic benefits; however, the quality of governance frameworks varies greatly throughout the industry due to different resource prioritization and risk cultures among insurers. Enterprises that invest in a strong actuarial governance framework can experience significant benefits, such as increased confidence in results, earlier indication of potential issues, better insights for management decision-making, and process efficiencies that can save insurers millions each year. They can also reduce the risk of costly material weaknesses.Governance frameworks come at a cost, however, as their design and implementation require enterprise-wide efforts and, frequently, external support. How should insurers balance the cost of actuarial governance with the benefits of increased efficiency and reduced risk?Explore the world of actuarial governance with a focus on model, assumption, and data governance. Learn more about case studies to quantify the potential costs and savings associated with actuarial governance. By attending this session, you will:•Be able to describe key aspects of actuarial governance frameworks. •Understand the costs of implementing actuarial governance as well as some of the risks associated with poor governance.