Description: This article is an update, as of March 2019, on Financial Reporting Section sponsored projects in process and those recently completed.

Description: This article is the first in a series of articles on insurance applicant mortality risk analytics. From Small Talk Newsletter, Issue 37, January 2012.

Description: The Universal Life Work Group ULWG of the American Academy of Actuaries’ AAA Life Valuation Subcommittee was formed in July 2004. Its charge is to develop a new “principle-based” approach definition follows for statutory reserves and capital requirements for life products with certain types of benefits and guarantees, where the value of the contract obligations vary significantly due to such things as future interest rates or equity returns.

Description: The author discusses an interpretation of the surrender charge limitations specified in New York’s Regulation 77 which increases the maximum allowable surrender charges for renewal years. This interpretation was presented to and accepted by the New York State Insurance Department.

Description: The purpose of this article is twofold. Number one, to estimate the growing level of statutory reserves that are being reinsured offshore, supported by Letters of Credit, as well as by assets held within a trust. Number two, to quantify the redundancy in the reserves due to the conservative nature of the required methodology, combined with the utilization of an outdated mortality table.

Description: This article is a discussion about automatic waivers and the corresponding procedures under IRC sections 7702 and 101f.

Description: Mr. Robert L. Brown's response to previously published solutions 14.6 and 15.3 of the New Life Contingencies. Also mentioned is the new Canadian reserve standard.

Description: This article is the final installment of our three-part series on economic scenario generators (“ESGs”). Part I and II were published in the November 2019 and August 2020 issues of The Modeling Platform. Part III contextualizes the framework for selecting, building, and validating ESGs and focuses on the Academy Interest Rate Generator (“AIRG”), the most commonly used real-world ESG for US actuaries

Description: This article is aimed to cover the following: 1) Provides an assessment of income volatility under Long Duration Targeted Improvements (LDTI) for several key types of long duration contracts along with select illustrations, and compares against those under current GAAP, 2) Discuss areas where accounting policies or methodologies can influence income volatility, and 3) Show how a company's management reporting can be adapted to help explain income variances under LDTI.