Description: The IFRS Foundation’s establishment of the International Sustainability Standards Board is a major step toward achieving relevant, decision-useful sustainability information for market participants that is comparable across industries and jurisdictions.

Description: This report presents an analysis of the NAIC climate risk disclosures for reporting year 2021. The 2021 disclosures were the most recently available data at the time this analysis was conducted (in June and July of 2023).

Description: This report focuses on the risks of change in the insurance industry and adapting to the "New" New Normal. It includes survey results, analysis, and discussions on various risks affecting the industry in the current environment.

Description: An increasingly common question in our industry is - what should actuaries be doing and what should IT be doing? This gets at the difference between the self-service model, where actuaries have minimal reliance on ITand the shared-service model, where IT is a partner that helps with goals such as developing capabilities and running production models. The presenters will cover the unique value proposition of actuarial and IT functions and use that context to explore the pros and cons of the two models. They will ask what is going to drive the operating model in the future, considering the implications of trends in governance, technology toolkit and company culture. The presentation will be followed by interactive discussions on three case studies related to how IT and actuarial teams can work together most effectively, allowing the group to learn what works and what doesn't work from other companies approaching these challenges.

Description: This is an invitation to comment and an announcement on the IAA’s Exposure Draft of the Educational Monograph on Issues Associated with the Determination of Discount Rates for Financial Reporting Purposes. The SOA’s Financial Reporting Section is one of the cosponsors of this effort.

Description: The IFRS Foundation’s establishment of the International Sustainability Standards Board is a major step toward achieving relevant, decision-useful sustainability information for market participants that is comparable across industries and jurisdictions.

Description: Accounting Standards Update (ASU) 2018-12, commonly referred to as long duration targeted improvements (LDTI), is the most significant GAAP accounting change impacting the life insurance industry in the past 40 years. This article discusses the impact of LDTI on variable annuities (VA) and fixed indexed annuities (FIA) from a product development and in-force management angle. Detailed discussion topics include hedging and ALM, product strategy and development, and pricing. LDTI will cause many VA and FIA writers to re-evaluate their hedging and asset liability management (ALM) strategy following the move to fair value accounting under the new MRB requirement. Stakeholder appetite for accounting volatility and resulting changes to hedging and ALM may trigger changes in product mix and designs. In addition to updating pricing infrastructure to handle the new requirements, pricing actuaries will need to produce analyses to educate stakeholders on the risks and pricing implications of any changes to designs, hedging and ALM.

Description: 2021 Life Meeting - Session 4E: LDTI Earnings Analysis for Life Products 8.31.21 Recording

Description: Discusses the impact of the Foreign Account Tax Compliance Act, FATCA, on U.S. insurance industry.

Description: Sustainable operations under changes in accounting principles and solvency standards