Description: In the time since the original proposal to move healthwriting companies from the blue blank to the orange blank, there have been several incremental updates to the blue blank by the NAIC Blanks Working Group to integrate portions of the orange blank into the blue blank. Meanwhile, the NAIC RBC Working Group has issued their proposal to change the health test for comment and appear to be moving forward with the proposal to revise the health test. This would obligate companies that write predominantly health business onto the orange blank rather than the blue blank, which they have historically used for reporting. Discover background of the revised health test, the incremental updates to the blue blank that have been implemented recently, additional incremental updates proposed for upcoming blue blanks, and the current status of the Health RBC Working Group proposal to revise the health test. Hear observations about companies that have opted to 'take the plunge' and move to the orange blank ahead of the revised health test as well as companies that have opted to remain on the blue blank and incrementally update as new requirements are integrated into the Blue blank. By attending the session, you will be able to: • Understand the context of the initiative to revise the NAIC health test. • Summarize the recent changes to the blue blank implemented by the Blanks Working Group that integrate portions of the orange blank into the blue blank. • Summarize the upcoming proposed changes to the blue blank by the Blanks Working Group that integrate additional portions of the orange blank into the blue blank. • Summarize the current status of the Health RBC Working Group proposal to revise the health test. • Provide industry perspective on companies that have opted to move to the orange blank ahead of the revised health test and companies that have opted to remain on the blue blank until the NAIC requires it.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: The IFRS Foundation’s establishment of the International Sustainability Standards Board is a major step toward achieving relevant, decision-useful sustainability information for market participants that is comparable across industries and jurisdictions.

Description: Statutory and GAAP metrics are useful for regulators, investors, and other external parties who require a consistent basis for viewing snapshots of companies at a point in time, however, their uses are more limited for managers who are tasked with making strategic decisions. Many insurers are turning to internally developed metrics such as value of new business (VNB) for better profitability insights at the point of sale and to understand how new business profitability changes over time. By leveraging existing models and reporting processes, insurers can reduce the additional effort involved, applying VNB toward applications such as pricing, capital allocation, and risk management. Discuss key considerations for developing and using VNB. Begin with a brief overview of VNB, including how VNB addresses specific shortcomings of Stat and GAAP. Next, discuss applications of VNB for life and annuity business and conclude with some implementation case studies.

Description: Are you a health actuary affected by recent developments in business practices and accounting standards that have created situations in which you may be involved in estimating balances under accounting rules that differ from those typically used by insurers? In this session you will learn about situations where non-insurance accounting regimes may intersect actuarial practice, with an intended focus on two particular topics.

Description: Most insurers operate in a multi-GAAP world: Many U.S. insurers are regulated on a statutory/risk-basec capital (RBC) basis, report to markets under U.S. GAAP, pay taxes on a tax basis of accounting, and manage their business internally on an economic or other basis. In addition, many have overseas entities exposed to even more reporting bases. Reporting requirements are ever increasing and convergence of frameworks is not a reality in most parts of the world.Learn about a multi-GAAP framework to gain a bottom-up understanding of the differences in reserves and other balance sheet and income statement line items across reporting bases, both now and for future projections/plans. Using such an approach enhances insight into the valuation of the business, removes inconsistencies and results in operational efficiencies in the valuation process. At the conclusion of the session, you will learn technical concepts behind the Multi-GAAP framework and some practical ways to design and implement it.

Description: It is time to'go live with ASU 2018-12, otherwise known as long-duration targeted improvements (LDTI). For companies that have single premium limited payment contracts, additional work will be necessary under LDTI if the contracts are currently utilizing a break-even discount rate to defer the excess of the gross premium over the net premium, i.e. the deferred profit liability. This is mainly driven by requirements under LDTI to update for actual experience and review assumptions at least on an annual basis. This session is designed to cover LDTI implications specific to carriers of single premium limited payment contracts, including changes to how deferred profit liabilities are calculated going forward under LDTI and their impact to financial statements. By attending the session, you will: - Identify the LDTI implementation issues impacting their immediate annuity business. - Determine how balances will be established at transition. - Describe the explicit DPL calculations required going forward under LDTI, and their impact to financial statements.

Description: In this Determining Appropriate Sensitivity Tests webcast, explore sensitivity testing effectiveness, the important difference between sensitivity and stress testing and more. Understanding sensitivity testing is critical to actuarial work, especially in order to properly assess and evaluate risk factors. Come explore approached to sensitivity tests and effective evaluations of sensitivity test results in order to elevate your knowledge within the actuarial science field.

Description: This report provides a framework that actuaries can use to evaluate moderately adverse conditions.