Description: This is the special report about actuaries taking professional inventory. External, as well as internal, forces have directed actuaries' attention to the need for a re-examination and reappraisal of their 'professionalism.' As evidence of the need for an introspective analysis, the following are issues that several actuarial bodies are currently examining through joint committees: 1. independence, 2. organization and disciplinary procedures, 3. professional conduct, 4. actuarial principles for funding of pension plans, 5. education and examination, and 6. experience requirements. Most of these involve the relationship of the actuary to the general public. From Transactions of Society of Actuaries 1974, Vol. 26, Pt.2D, No. 75 AB.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of guaranteed minimum death benefits, guaranteed minimum income benefits, and guaranteed minimum accumulation benefits on variable deferred annuities, along with floor guarantees on variable immediate annuities. This session described the types of benefits found in the marketplace along with the associated risks. Current reserving practices, risk management techniques, and the latest American Academy of Actuaries AAA and National Association of Insurance Commissioners NAIC developments are discussed.

Description: This presentation, session number 5PD, took place at the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. This session focuses on the Generally Accepted Accounting Principles, ‘GAAP,’ methods and standards of practice applicable to accounting for purchase of a block of business. The panelists discuss working with investment bankers and others, presentation and determination of actuarial opening balance sheet items such as benefits reserves and present value of future profits, actuarial appraisal values, impact of synergies, management initiatives, expense savings, projection of GAAP profits, various accounting issues, and applicable Actuarial Standards of Practice. Discussion from participants is included. From the Record of the Society of Actuaries, Volume 26, No. 3. Possible keywords: VOBA=value of business acquired PGAAP=purchase GAAP accounting Actuarial appraisal

Description: This is a panel discussion session on recommended guidelines and practices for determining dividends and illustrations for individual life insurance products, focused on the SOA's Committee on Dividend Philosophy's proposed recommendations. The differences between mutual company and stock company views are explored.

Description: Panelists provide a big picture overview of the M&A process and the roles of the actuary, investment banker, outside counsel, accountants, acquirer and seller. Includes a discussion on actuarial appraisals, ASOP 19 and due diligence. From Record of Society of Actuaries, Vol. 30, No. 1, Session 94

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Presents questions to actuaries who are experts in the field of actuarial valuation of insurance company assets and liabilities.

Description: A presentation of various views on establishing principles and practices for pension plan construction and valuation, in light of the passage of the Pension Reform Act. Presented at the Spring 1975 Meeting in Los Angeles.

Description: This presentation is a panel discussion from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. The panelists discuss the obligations and requirements with respect to cash flow testing for yearend 1991, at that time contained in Actuarial Standard of Practice No. 14. Topics include difficulties in the cash-flow testing process, such as asset and liability construction and assumptions, and strategy. Other topics are interpretation of results, how to cost-justify cash-flow testing, Canadian cash-flow techniques and issues, and asset liquidation versus borrowing. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 4A.

Description: 1992 SOA Annual Meeting, Washington, D.C. This 1992 session on the Statutory Valuation Opinion covered the following topics: 1. Regulatory issues and the amendments to the standard valuation law. 2. Practical considerations, such as accumulating data, setting assumptions and creating models. 3. Issues and considerations involved in cash-flow testing.

Description: This session from the 1995 SOA New Orleans Meeting reviews the codes of professional conduct and standards of practice and the professional obligations when practicing in various other countries. From the Record of the Society of Actuaries, Vol. 21, No. 1.