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: This is an extensive, detailed, manual designed to implement Principles-Based Reserves. It includes an introduction, reserve requirements, actuarial opinion and report requirements, experience reporting requirements, and valuation manual minimum standards.

Description: Panelists discuss many developments over the year 1991 that impact the valuation actuary. Session 1 of the 1991 Valuation Actuary Symposium.

Description: 1993 SOA Meeting, Quebec. The new SVL has expanded the scope and responsibilities of the valuation actuary. Topics covered: • Risk of legal liability for actuaries? • Vagueness of actuarial standards related to adequacy testing? • Reliance on other company experts? • Consultants versus company actuary perspectives? • The science versus the art of the process?

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: 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.

Description: Panelists provide background and updates on a number of statutory issues relating to life and annuity products, including statutory codification implementation, Actuarial Guideline MMMM, Actuarial Guideline AXXX and implications of the movement to the 2001 CSO table. Changes to federal reporting requirements, through the Sarbanes-Oxley Act, are briefly discussed relative to the recent accounting problems in the news. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 78OF of the Boston Annual Meeting.

Description: This article provides an update on principles-based reserves for life insurance.

Description: Discusses how companies must ensure that significant and necessary product development, and administrative and compliance system changes, have been completed and tested in time to accommodate new requirements.

Description: The 2020 edition of the Valuation Manual permits mortality data aggregation thereby enhancing credibility but also has accompanying requirements and addresses calculation of company experience rates.