Description: Proposal to the NAIC and state regulators to recalibrate life insurance reserve and capital standards to ensure the life industry successfully withstands the historical low interest rate environment.

Description: View the September, 2016 issue of Financial Reporter.

Description: A discussion of Actuarial Aspects of Section 404 of Sarbanes-Oxley

Description: A pension actuary and a life actuary collaborate to express public pension liability and asset issues in terms and figures that an insurer would use

Description: This article examines potential approaches to the calculation of the risk adjustment component, with a focus on a case study related to a UL product.

Description: December 2016 edition of The Financial Reporter

Description: This article analyzes two common interpretations of SOP 03-1 in determining the guaranteed minimum death benefit GMDB liability in a variable annuity contract, and it analyzes the resulting impact on the initial GMDB reserve and on the volatility of GAAP earnings as actual experience emerges. This analysis could be applied to the guaranteed minimum income benefit GMIB, guaranteed minimum accumulation benefit GMAB, guaranteed minimum withdrawal benefit GMWB and other guaranteed benefits in a variable annuity contract that are subject to SOP 03-1, and the conclusions would be similar.

Description: COLIFR Corner by Harold Forbes from the Financial Reporter, May 1999, Issue No. 39.

Description: The article described two methods for calculating the benefit ratio described in AICPA Standard of Practice SOP 03-1. Method 1 calculates the benefit ratio as the quotient of the expectation of A and the expectation of B where A is benefits and B is assessments. Method 2 calculates the benefit ratio as the expectation of the quotient of A and B.

Description: Adjusted earnings has long been a fundamental KPI for investors to assess the core financial performance of a company. As a non-GAAP measure, there is a divergence in practice of how individual companies define adjusted earnings and what activities management views as “core” to their business. The arrival of US GAAP LDTI has led insurers to revisit their existing adjusted earnings framework as the new standard introduces additional “accounting noise” that if left unadjusted obscures the true underlying drivers of performance. This article provides key insights on the influence US GAAP LDTI has had to the adjusted earnings calculation, highlights changes from the pre-LDTI framework, and showcases key themes observed from public insurers 2023Q1 10-Q filings.