Description: This article Provides a description of an IRS Directive that provides a safe harbor tax reporting position for computing tax reserves for pre-2018 tax years for annuity contracts subject to AG43 and VM-21 and life insurance contracts subject to VM-20 Principal Based Reserves methods. The safe harbor is required to be implemented on the 2017 tax return, with certain spread amounts in some cases to future tax years starting in 2018.

Description: This report studies the various benchmarks for analyzing the option-adjusted spreads of the major fixed income asset classes of life insurance companies. In addition, this report analyzes the historical benchmark performance against default rates for the asset class being benchmarked.

Description: This article helps companies better understand the currently proposed upcoming VM-22 regulation by comparing the VM-22 measurement model to LDTI MRBs. The article highlights key considerations as companies plan for adoption of these two measurement models. These considerations should help inform a company’s strategy related to the business impacted by these standards.

Description: August Zilmer 1831-1893, a Prussian actuary best known for the development of preliminary term valuation, also made some observations on life insurance accounting that seem quite contemporary. Zillmer also wrote the first comprehensive German actuarial mathematics text in almost a century.

Description: A review of Actuarial Guideline AXXX

Description: Feature article discussing the Life Actuarial Task Force (LATF) recent exposure of the National Association of Insurance Commissioners’ (NAIC) Valuation Manual.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: This article summarizes VM-31 updates to the 2018 and 2019 Valuation Manuals, and considerations for PBR Reports based on findings from the 2017 submissions.

Description: The valuation manual is a living document that continues to evolve. As more companies adopt Principle-Based Reserving (PBR) and file PBR Actuarial Reports, regulators have observed gaps and inconsistencies across the industry. As a result, PBR reporting requirements (VM-31) have expanded significantly in 2020 and still continue to evolve. This session will provide attendees with everything they need to fill out their PBR reports for both Life business and Variable Annuity business. We will dig into the new changes effective for 2020 reporting and approved changes for 2021, and compare and contrast the Life and VA requirements to help companies identify areas that can be leveraged between the two. In addition, we will share insights from regulators, consultants, and company actuaries on what to include or exclude in your report.

Description: Discusses Aug. 23, 2007, meetings in Salt Lake City, Utah, about principles-based approach for both reserves and risk-based capital, RBC.