Description: Health insurance company assets and liabilities have evolved since the Patient Protection and Affordable Care Act (ACA) was signed into law in March 2010. The ACA fundamentally rearranged how commercial health insurance is funded by integrating federal premium subsidies and pass-throughs together with a marketplace interwoven with transfer payments among stakeholders. The impacts of these programs can be seen in specific accounting items on the balance sheets of health insurance companies over the past 10 years. Their emergence follows three primary trends: (1) balance sheet items tend to be larger and take longer to settle, (2) there are more interactions among items, and (3) the final settlement amounts are more uncertain.

Description: Principal component analysis is an unsupervised linear transformation mainly used for dimension reduction. Determine key numerical variables with maximum variances in a dataset, identify the correlation and removal of redundant variables are the key aspects of this exploratory data analysis.

Description: This article discusses final Treasury Regulations published in October 2019 under Internal Revenue Code sections 101 and 6050Y. The regulations cover new tax reporting requirements for transfers and sales of life insurance contracts, as well as changes to the transfer-for-value rules related to reportable policy sales

Description: As term carriers continue dealing with the implementation of PBR, the 2017 CSO mortality table, accelerated underwriting programs and predictive models, one wonders what the next significant challenge will be for the term market. The implications of these changes are yet to be seen fully, and monitoring of the results will be important in the years to come. ...

Description: The widening gap in life span between high- and low-income Americans may be eroding the progressivity of Social Security retirement benefits. Differential longevity trends have had the effect of raising lifetime benefits for high earners but not for low earners. Social Security’s long-term financial problems result in part from an increase in average life expectancy driven by wealthier people living longer, and, thereby, collecting more benefits. Policymakers should not use funding shortfalls attributable to these trends as an excuse to cut monthly benefits alike for those who have gained (high earners) and for those who haven’t (low earners).

Description: In this article, Tze Leong introduces the subject of Takaful (Islamic insurance) to a worldwide audience based on his experiences and observations in Malaysia and its surrounding region. Through this, he shares some reflections that we could apply to the conventional insurance market.

Description: Feature article discussing the current state of the Ecuadorian social security system.

Description: This paper analyzes climate change's impact on corn yield and insurance claims in Southern Minnesota through an analysis of how temperature and precipitation are expected to change over the next 30 years.

Description: Read the May 2020 issue of Reinsurance News published by the Reinsurance Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Feature article describing how exponential technologies will affect the actuarial profession.