Description: From the 1985 Valuation Actuary Symposium A review of the process involved in making an actuarial opinion and in developing the related actuarial report to management. This was accomplished through a case study approach, specifically covering a universal life product.

Description: From a session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Discussion of issues and the impact of current statutory valuation requirements for life insurance policies. Requirements covered include the Actuarial Standard of Practice on XXX, Actuarial Guideline AXXX, and Actuarial Guidelines 36 and 37. Products and issues discussed include nonlevel premium or nonlevel benefit insurance e.g., selective term, universal life with secondary guarantees or shadow accounts, determination of X factors, interpretation issues regarding XXX, variable life, and variable universal life, equity-indexed universal life, and the new CSO mortality table.

Description: The financial reporting of insurance is necessarily a complicated process because of numerous and stringent regulatory requirements, the inherent difficulty in estimating both the probability and cost of long-term contingent events, product diversity, and new products, such as equity-linked annuities. This literature guide provides the user with a summary of representative sources of current general information for continuing education purposes.

Description: Feature article discussing the results of a recent ULSG AG38 Valuation Research Report.

Description: From the 1986 Valuation Actuary Symposium, held in Washington DC in October 1986 Examination of real life case studies of recent insurance company insolvencies to test whether the concept of the Valuation Actuary would have prevented insolvencies or reduced the losses resulting from insolvencies.

Description: An illustration of how to calculate the Stochastic Exclusion Ratio Test given the required inputs as described in the Valuation Manual VM-20 (based on the December 2, 2012, version).

Description: The use of Other Comprehensive Income OCI is receiving its moment in the sun. It is being considered for housing some of the earnings volatility in the International Accounting Standards Board IASB current approach to measuring insurance contracts’ performance.

Description: Feature article discussing the synergies between Principle Based Reserves and the NAIC’s Own Risk and Solvency Assessment (ORSA).

Description: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

Description: Standard Valuation Law (VM-20) State Adoption Status (May 8, 2014)