Description: This article summarizes key aspects of the Economic Balance Sheet (EBS) framework with respect to valuation of long-term liabilities. It highlights key implications of the EBS framework for life insurers and actuaries.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: This article is designed to provide a statistical method for reviewing the accuracy of the incurred but not reported IBNR life claim liability estimates from prior points in time.

Description: This article highlights features of the SOA's Regulatory Web Resource. The intent is to encourage greater use of the Resource among section members.

Description: The article discusses industry practices relating to US GAAP SOP 03-1 valuation for universal life with secondary guarantee products.

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

Description: “X” Factor—Modified Select Factor Adjusted Mortality Rates by Larry M. Gorski from The Financial Reporter, May 1999, Issue No. 39.

Description: Reflections of a Regulatory Actuary by Larry Gorski

Description: Mortality Credibility and its use within VM-20.

Description: Continued look at unlocking of traditional contract valuation assumptions, this time examining the frequency of true up for actual experience.