Description: The 1980 CSO Tables were developed by the Special Committee to Recommend New Mortality Tables for Valuation to replace the existing 1958 CSO Tables as the minimum standard for valuation. This paper presents the new tables and recommendations. From Transactions of Society of Actuaries 1981, Vol. 33.

Description: This is a discussion of the paper, Actuarial Note: The Equation of Equilibrium by Donald C. Baillie. From Transactions of Society of Actuaries 1951, Vol. 3, No. 7.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: This note is motivated by Section 7.4 of Actuarial Mathematics. Consider two different fully-discrete policies issued to x, each for a unit of life insurance during the first h years. Here, h is less than or equal to the shorter of the two premium-payment periods.

Description: This panel discussion covers reports of The Society's Special Committees on Valuation and Non-forfeiture, report of The Special Committee on Valuation of Canadian Companies, and some reflections on valuation and related problems.

Description: This is a discussion of the paper, 'Insurance for Face Amount or Paid-Up Insurance Amount if Greater' by Cecil Nesbitt and Marjorie Van Eenam.

Description: 1992 SOA Annual Meeting, Washington, D.C. This 1992 session on the Statutory Valuation Opinion covered the following topics: 1. Regulatory issues and the amendments to the standard valuation law. 2. Practical considerations, such as accumulating data, setting assumptions and creating models. 3. Issues and considerations involved in cash-flow testing.

Description: The main focus of this report is the presentation of information and methodologies to support the analysis of the financial impact of AIDS on individual companies writing life insurance in the U.S. Topics include reserving and development of valuation tables used for both statutory and GAAP accounting. From Transactions of Society of Actuaries 1990, Vol. 42.

Description: Regulators observed a wide range of practice from early adopters of PBR in regard to the treatment of non-guaranteed reinsurance and adopted a formulaic solution on an interim basis for the 2020 Valuation Manual. A field test, supplemented with additional analysis performed using a model-office approach with representative models, is being performed over the first half of 2020 to inform regulators as they select a longer-term solution. This session will provide an update on this important issue as well as perspectives on how the resolution of this issue was approached and lessons learned for the future from those intimately involved in this work.

Description: This note suggests a simple approximate formula for the purpose of computing a terminal reserve when only mean reserves and net premiums are known. The author provides an expression for the error in this approximate formula and an exact formula for terminal reserves in terms of mean reserves, amounts of insurance, and a set of constants. From Transactions of Society of Actuaries 1951, Vol. 3, No. 6.