Description: As financial institutions become increasingly global, actuaries are interacting with financial professionals from different countries. The different regulatory, market, and educational situations make finding a common understanding difficult. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 76PD of the New Orleans Annual Meeting.

Description: The discount rate is one of the most critical topics in IFRS 17, which may have important repercussion on product profitability. Having a low discount rate may indicate a low profitability of a group of contracts, while a realistic expectation may differ. A similar issue was prevalent especially for U.S. companies when discount rates were set using a market consistent framework. The session is intended to help develop a discount rate framework that aligns with the business practices and address the concerns around the market consistent framework. This session will cover practical implementation considerations to set and apply IFRS 17 discount rates. The panelists will discuss alternative approaches to allow for a level of illiquidity premium for business supported by fixed assets with credit risks. Discussions will also cover other implementation considerations including granularity of setting the discount rate, application to new business, implications on asset and liability modeling, and a planning aspect for a successful implementation of the discount rate setting process. The panelists will share case studies to illustrate different approaches of setting the discount rate and their potential financial impacts. At the conclusion of the session, attendees will be able to: understand key requirements of setting discount rates under IFRS 17; understand how to align the discount rate to the actual business practices; understand implications of the discount rate in actuarial modeling; understand potential impacts on financial results; and develop a realistic plan to set discount rates appropriate to the business practices.

Description: This discussion at a 1967 Regional Meeting is about methods of allocating investment income using the investment year method, the treatment of unrealized capital gains, considerations in choosing interest assumptions, and challenges presented when comparing investment yields among companies.

Description: Key performance indicators (KPIs) are essential in order to monitor and communicate a life insurance companies’ financial results, and effectively manage the business. This presentation will illustrate how the currently used KPIs may develop and evolve with the adoption and implementation of IFRS 17. Will the IFRS 17 insurance revenue be an appropriate measure for growth? Will the profitability and new business value measures be different? The panelists will discuss the implications of IFRS 17 on the existing KPIs and the possible changes that may lay ahead

Description: This session from the 1995 SOA Boston Meeting discusses value-added financial reporting, the meaning of value added and embedded value, value-added as a tool for setting corporate goals, monitoring progress, motivating behavior, and improving financial success. From the Record of the Society of Actuaries, Vol. 21, No. 4a.

Description: This panel discussion from the 1979 SOA Fall Meeting focuses on the financial accounting controls for life insurance company actuarial reserves.

Description: Presented at May 1986 Spring Meeting. This session discussion is about Financial Reporting in Canada and the United States, Financial Accounting Standards Board 'FASB' update, National Association of Insurance Commissioners 'NAIC' update, the role of the Valuation Actuary in the United States.

Description: This session at the SOA 1990 Hartford Spring Meeting is about statutory and GAAP financial reporting activities of the NAIC, Financial Accounting Standards Board, Actuarial Standards Board, American Academy of Actuaries, American Institute of Certified Public Accountants, SEC, and the SOA Committee on Actuarial Principles.

Description: This session at the SOA 1990 San Francisco Spring Meeting presents information about a number of countries around the world with respect to insurance products, market, regulation and financial reporting.

Description: Session 9 of the 1990 Valuation Actuary Symposium is an open forum on reinsurance.