Description: Panelists in this session at the 2004 Valuation Actuary Symposium discuss current embedded value and fair-value practices, similarities and differences between embedded value and fair value, and benefits and drawbacks of embedded value, fair value and other measurement systems for internal management purposes.

Description: What do we do now? So many changes in tax and financial reporting are having an impact on smaller insurance companies. What do we need to do and what are our options? Tax and financial reporting specialists discuss what is happening and what they see in the industry.

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: In session 120IF of the Washington Annual Meeting panelists discuss latest developments related to Dynamic Financial Condition Analysis. From the Record of the Society of Actuaries, Vol. 23, No. 3.

Description: Panelists at this session of the SOA 1998 Maui I Spring Meeting discuss opportunities to discuss and influence state legislative and regulatory activity from the standpoint of a small insurance company. Activities within the ACLI and HIAA as well as the role of the Small Company Section of the SOA newsletter are discussed.

Description: In session 32 IF of the New York Annual Meeting the panel discusses the ongoing consolidation at the domestic and foreign levels of the financial services industry, and the ensuing need for an international accounting standard. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: 1994 SOA Spring Meeting, San Francisco. This session provided overviews of the history of MVA, statement of financial accounting standards documents that pertain to this issue, and implementation issues. The liability methodologies and latest developments were also covered.

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: 1987 Valuation Actuary Symposium. This open forum discussed the implementation of GAAP for life insurance companies in Canada. Topics included the history, concerns, provisions for adverse deviations, developments, application, and practical implementation.