Description: You've written the position papers, updated the models, and designed the required disclosures, but you may be wondering how to explain the results during interim financial reporting periods to company management as well as other stakeholders. Explore ways to adapt existing management reporting and offer ideas for new metrics. Discover various methods for analyzing DAC amortization patterns, market risk benefit reserve patterns, and liability for future benefits (LFPB) movements. Investigate ways to integrate changes in LDTI with business planning and other broader business issues such as product pricing considerations and reinsurance strategy. By attending the session, you will: - Create effective management reports to explain movements in LDTI results, e.g., LFPB, DAC, and MRB changes. - Leverage management reports in other areas of the business, including Financial Planning & Analysis, Pricing/New Product Development, and reinsurance strategy. - Understand the implications of the LDTI results and how they impact their business decision.

Description: Long-duration targeted improvements (LDTI) will have unique consequences for long-term care and disability income. Discuss how to address these issues and learn more aboutboth standalone and combination LTC contracts. Understand the impact of LDTI on DAC, policies which previously held zero active life reserves, and allocation of IBNR to cohorts. By attending the session, you will: - Be able to create and defend accounting policies and to implement actuarial models consistent with the new U.S. GAAP accounting rules.

Description: An article presenting updated results as of 12/2021 by using analgorithm that formed part of a paper presented at the AFIR-ERMColloquium which took place in Panama, in 2017. This article starts by proving that the conditions that have to be met in order for the formula to apply that were present in 12/2015 still hold.

Description: This webcast will oversee a discussion on the impact of LDTI (transitions and earnings), in addition to day two items and other considerations. Examples include pricing, reinsurance and non-GAAP adjustments.

Description: Join us for the Pandemics & Paradigm Shifts: ERM in an Intensely Dynamic World panel discussion, where industry and regulatory perspectives will help provide insight into a number of topics. Expect interactive dialogue opportunities based on the conversation between the panelists and the audience. Key topics that will be conversed about, but the panel is not limited to, include a brief review of historical paradigm shifts and subsequent insurer failures, best practices and an outlook on the ultra-dynamic world of today and consideration of a company's enterprise risk management framework as it affects ratings and insurance department examinations.

Description: IFRS 17 will be effective as of 1 Jan 2023 and provide opportunities as well as challenges to both Direct Writers and Reinsurers across the insurance industry. If the new framework is not fully understood, an implementation can elevate the risk of problems in financial reporting, product development, investment management and more. The transition to IFRS provides an opportunity for companies to optimize the financial position of the enterprise by implementing mitigating strategies to reduce the risks and challenges that IFRS brings to the table.

Description: Following the success of our first webcast on IFRS 17 implementation in the GCC, we are excited to announce the second installment, which will take place on September 26. This time, we will have a new panel of experts representing the actuarial, finance, and IT functions. The journey towards IFRS 17 implementation has been complex, but it has also brought these three functions closer together, creating a true team effort. The SOA has been a committed partner in this journey, providing in-depth technical support to the industry. Our IFRI Certificate program has been well-received around the world, and we have also delivered several webcasts on the topic, including a three-part series with simultaneous translation to Arabic. This webcast is the second part of our three-part series on the implementation of IFRS 17, which went into effect on January 1, 2023. The series will focus on the lessons learned, challenges, and best practices that have been experienced in the GCC. The third and final discussion will take place in person during the SOA's Regional Symposium in Riyadh on November 19-20. We hope you will join us for this important discussion.

Description: In preparing claims reserves in the annual statement, health insurers and their opining actuaries will generally include a provision for adverse deviation (PAD) in their reserved amount in order to satisfy language in both in the National Association of Insurance Commissioners (NAIC) Health Annual Statement Instructions and in Actuarial Standards of Practice. This article explores the total level of PAD (both implicit and explicit margin combined) included in the reported claims reserves by examining NAIC filing data from 2016 through 2022.

Description: S&P reissued a second Request for Comment (RFC) in May 2023 that proposed changes to their insurer capital adequacy methodology and assumptions, and suggested these proposed changes may become effective at the end of 2023. This paper is to highlight the notable changes between the current capital model criteria and the proposed model. We also discuss major changes from the first RFC and the second RFC, as well as several key items that still require enhanced guidance and clarification. Our analysis is based on information gathered from S&P's public comments, conversations with industry participants, and publications released by S&P Global as of July 2023 when this paper was written. Most U.S. life insurers are rated by S&P using their U.S. Life Statutory Capital model, while other insurers use the GAAP/IFRS Capital Model. Statutory financials will remain the starting point for U.S. life insurers under the proposed model, however there will be additional adjustments made to these numbers in an effort to create consistency and comparability with other accounting and solvency regimes.

Description: Capital market model return expectations took a nose-dive over the past year or two due to historically low interest rates and historically high pricing levels. It seemed reasonable to assume that macroeconomic fundamentals had changed so that these conditions may have become something like ""the new normal"". But now capital markets are shifting again, and rather dramatically, with runaway inflation and monetary policy changes aimed at controlling it. Capital market outlooks are shifting as well in response to this new starting point. What might be reasonable to assume now -- is this just a temporary blip or should we expect a totally different environment going forward? By attending the session, you will: Develop a better understanding of what trends and factors underlie projected interest rates and investment portfolio returns.