Description: As the Valuation Manual continues to evolve and PBR standards for additional products are drafted and incorporated, it will become increasingly important for companies to understand where the requirements are consistent across products, as well as how they differ. This session will scan the life (VM-20) and annuity (VM-21, VM-22) PBR standards across the Valuation Manual to compare and contrast key requirements. Attendees will understand where common methods and techniques can be used across products and platforms. Attendees will also be better positioned to consider assumption and margin setting, asset and derivative modeling, and model efficiency techniques for all types of principles-based valuations. Additionally, this session will profile specific challenges that can arise when actuaries use models to project PBR reserves at future dates for internal planning, pricing, and projections across life and annuity businesses.

Description: Presented at May 2002 Spring Meeting. Discusses the proposed new valuation table and how it affects future product development and design.

Description: Presented at May 1996 Spring Meeting. This session provides an update on current annuity financial reporting topics, including: status of annuity valuation law revisions and proposed Actuarial Guideline GGG.

Description: In session 148PD of the Washungton Annual Meeting the Panel discusses changes in current accounting practices and identifies issues that might directly impact actuaries. From the Record of the Society of Actuaries, Vol. 23, No. 3.

Description: This presentation, session number 6PD, took place at the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. The panelists discuss recent and potential developments in statutory reserving for annuity products, including reserves for variable annuities with guaranteed living benefits, NAIC Actuarial Guidelines 33, 34, and 35, new annuity valuation table update, proposed revisions to NAIC Actuarial Guideline 9-A on substandard annuity reserves, reserves for annuities linking returns to general account asset pools, reserves for guaranteed investment contracts with bailouts triggered by downgrades, changes to NAIC Model Actuarial Opinion and Memorandum Regulation, and unified valuation system update. Discussion from participants is included. From the Record of the Society of Actuaries, Volume 26, No. 3.

Description: This summary of a session at the April 1976 Washington D.C. meeting presents information related to Solvency Standards for Life Companies and issues related to solvency standards and reserves.

Description: This session from the 1984 SOA Atlanta Meeting covers statutory reporting, GAAP reporting, management reporting and accounting treatment of new generation life and annuity products such as universal Life, UL and flexible premium annuities. It also discusses the NAIC proposed regulation for univeral life insurance and the actuarial opinion required under the regulation.

Description: Presented at June 1986 Spring Meeting. This discussion is about the work of the committees of the Society of Actuaries and American Academy of Actuaries in advancing the role of the valuation actuary: Current status of the valuation actuary movement, Standards of practice, Qualification requirements, The valuation actuary in Canada.

Description: Discusses status of compliance with NAIC Annual Statement Blank requirement, survey of regulatory responses to interrogations, comments of the American Academy of Actuaries Task Force on first year results, and use of non-guaranteed elements in sales presentations. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.

Description: From the Valuation Actuary Symposium Proceedings January 1986 Discussion of the development of the valuation actuary concept, various aspects of current regulation, and major features of the valuation actuary concept. Also discussion of the nature of professional liability and the specific legal liability of the valuation actuary. Finally an overview of some methods of limiting that liability.