Description: This presentation is from session number 25, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists discuss Actuarial Guideline XXXIV, which was effective year-end 1998 and addresses reserving for minimum guaranteed death benefits associated with variable annuities, including the requirements of Actuarial Guideline XXXIII. Companies are now offering other guaranteed benefits such as guaranteed living benefits, and the National Association of Insurance Commissioners [NAIC] and the American Academy of Actuaries are working to address reserving for these benefits. The panelists describe the minimum guaranteed benefits in the marketplace and the risks associated with them. Current reserving practices and the latest NAIC and Academy developments are discussed. Discussion from participants is included.

Description: The proposed new table, recommended as suitable for a new Group Annuity Reserve Valuation Standard, if accepted and adopted by regulators, would incorporate the use of generational mortality into statutory reserving requirements for group annuities for the first time. From Transactions of Society of Actuaries 1995, Vol. 47.

Description: The Society’s Committee to Recommend a New Mortality Basis for Individual Annuity Valuation was formed in 1980 at NAIC request because the margins in the 1971 IAM Table had eroded. This article describes the development of the 1983 Table a and shows how well the 1973 Experience Table fits the underlying data.

Description: Insurance companies are not immune to liquidity risks.

Description: Building on the Part 1 article, Introduction to the Representative Scenarios Method, this article describes testing the methodology with respect to four product types, fixed indexed annuities with GLIBs, level term life insurance, universal life with secondary guarantees, and variable annuities with GLWBs. This Part 2 article describes testing results, refinements to the RSM methodology, and next steps.

Description: This session at the SOA 1990 San Francisco Regional Meeting looks at issues surrounding reserves for structured settlement and similar annuities including interest rates, cash flow testing, NAIC guidelines, mortality assumptions, and GAAP considerations.

Description: 1998 Valuation Actuary Symposium. In this teaching session on Equity-Indexed Annuities, the panelists discussed the background and techniques of the NAIC's Guideline ZZZ, what must be done, the market-value-based methods, the book-value method, and ideas regarding making the best overall choice among the methods.

Description: 1998 Valuation Actuary Symposium. The panelists addressed regulatory activity with respect to minimum guaranteed benefits for variable annuities: Specifically, AG XXXIV as it relates to minimum guaranteed death benefits and regulatory work that is being done in the guaranteed living benefits area.

Description: Update from the ACLI about its continued contact with Treasury relating to AG VACARVM and Life PBR.

Description: Practical Considerations for Implementing the New Statement of Position for Long Duration Contracts and Separate Accounts .