Description: A discussion of life insurance securitizations and how they can be structured to provide surplus relief associated with onerous reserve requirements.

Description: Update on research projects sponsored by the Financial Reporting Section.

Description: This session discussion is about tools, techniques, and methods used by the health valuation actuary HVA in dealing with business projections, cash-flow analysis, valuation on nonguaranteed premium business, target surplus analysis, reinsurance and claim reserves. From Record of Society of Actuaries Vol. 18, No. 1A.

Description: Changes to AG 43 and what that might mean for tax purposes. Also, summary of IRS Notice 2016-63 (provides safe harbor tax guidance on use of 2017 CSO tables).

Description: A copy of a recent 1967 ruling of the New York Insurance Department on the treatment of graded premium policies in Schedule Q.

Description: Author's views about adjustment of earnings. The thesis is, simply, that the distortion of earnings is caused by the establishment of a statutory reserve in the annual statement which differs from a realistic evaluation of the future liability. As a corollary, the concept of prepaid acquisition expense as a basis of adjustment will be seen to be inappropriate.

Description: VM-22 was first introduced into the Valuation Manual in 2018. A number of changes have been made since its introduction, with more expected on the way. This article compares valuation requirements for income annuities pre- and post-VM-22, discusses technical and implementation implications with regards to VM-22 (including comparison with New York Regulation 213), and considers future revisions.

Description: The article provides an introduction to tax accounting for U.S. life insurance companies, with a focus on NAIC statutory accounting concepts. The author discusses permanent and temporary differences, the current tax provision, and deferred tax accounting requirements, including admissibility testing under SSAP No. 101.

Description: This article helps companies better understand the currently proposed upcoming VM-22 regulation by comparing the VM-22 measurement model to LDTI MRBs. The article highlights key considerations as companies plan for adoption of these two measurement models. These considerations should help inform a company’s strategy related to the business impacted by these standards.

Description: This article summarizes the results of the first part of a U.S. Appointed Actuaries survey asking about the usefulness of the various documents that have been created to guide valuation actuaries.