Description: Feature article describing the different types of risk cultures companies can have.

Description: Noteworthy Reads has a simple aim—to inform our readers of good sources on models; specifically, to point out sources beyond what we can include in a newsletter. Noteworthy Reads will select a few and provide mini-reviews.

Description: This SOA report’s purpose is to increase awareness of the importance of many reinsurance treaty terms/provisions, identify common treaty structures, practices, and/or solutions in reinsurance treaty construction and negotiation and illustrate how treaty terms have evolved over time. Lessons can be learned from ceding companies’ and reinsurers’ viewpoints and objectives on key treaty provisions and by considering obstacles, compromises, conflicts and solutions during and subsequent to the treaty construction and negotiation process. This report is based on questionnaire responses, telephone interviews, participant research assignments, follow-up email correspondence and an in-person roundtable discussion. This report documents participant’s points, counterpoints, counter-counterpoints and insights

Description: Find information about the Life Reinsurance Treaty Construction. The report’s purpose is to increase awareness of the importance of many reinsurance treaty terms/provisions; identify common treaty structures, practices, and/or solutions in reinsurance treaty construction and negotiation; and illustrate how treaty terms have evolved over time.

Description: This PBA Implementation Guide provides verbal summaries and visual flow chart overviews of various VM-20 and PBA components and requirements, six Case Study Road Maps, and action items to bridge the gaps and implement PBA. During the Guide’s development these templates and exercises were vetted with more than 15 participants selected from a diverse group of companies

Description: The days of reinsurance treaties bound by a handshake are long gone. Treaties have evolved into complex legal documents. The session will use a recently released study on recapture provisions as a starting point and will expand the discussion to other key treaty provisions. The focus will be on understanding the intentions, concerns and relative positions of both the direct company and the reinsurer so that a mutually beneficial compromise can be explored.

Description: In November 2020 the Life Actuarial (A) Task Force unanimously passed APF 2020-08 which adds a third permissible method in the Valuation Manual to determine company experience mortality rates. This article describes the three methods

Description: An observation is made regarding the impact interest rate scenarios have on VM-20 stochastic reserves.

Description: This PBA Implementation Guide provides verbal summaries and visual flow chart overviews of various VM-20 and PBA components and requirements, six Case Study Road Maps, and action items to bridge the gaps and implement PBA. During the Guide’s development these templates and exercises were vetted with more than 15 participants selected from a diverse group of companies

Description: With the halfway point of the transition period in the rear view mirror, many companies are well underway with their VM-20 implementation and analysis efforts. Beyond attempting to master the new rules of the road, actuaries have discovered new effects of product design and assumption setting. Panelists in this session will discuss their experiences with VM-20 reserves for various products and designs, their applications of actuarial judgement and the areas where even they don’t have all the answers. The audience is encouraged to bring their questions and also to share their insights.