Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: The new 2001 CSO regulation requires the filing of an asset adequacy opinion when the table is utilized - which can be a significant issue for small insurers.

Description: The New 2001 CSO: Implications for Universal Life Plans

Description: The Joint Actuarial Committee of the American Life Convention and the Life Insurance Association of America has been considering changes needed in the Standard Nonforfeiture and Standard Valuation laws in light of the high level of interest rates currently available and expected for future years.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: A change in the way in which statutory life insurance and annuity reserves are determined in the United States is heading toward adoption. Currently, the Actuarial Opinion and Memorandum Regulation AOMR combines formulaic factor-based minimum reserves with reserve adequacy testing. The American Academy of Actuaries Academy is working with the National Association of Insurance Commissioners NAIC to finalize the basic framework of a principles-based reserve PBR methodology, based on a gross premium valuation, for life insurance products. The NAIC Life and Health Actuarial Task Force LHATF has also been considering Actuarial Guideline VACARVM that would introduce a PBR method for the valuation of variable annuity contracts.

Description: This article summarizes recent proposed changes to the Valuation Manual that might take effect for 2019 valuations for PBR business.

Description: This is a summary of the NAIC meeting held in September of 2008.

Description: The NAIC is expected to adopt the model regulation for the 2001 CSO table in late 2002. The question then becomes: how quickly will states adopt the table? In the absence of a push by the insurance industry, there is a chance that there may not be 26 state adoptions in 2003.

Description: Discusses some of the new and different ideas being considered by the Wilcox Committee that is working on the Unified Valuation System, UVS, especially as they relate to smaller companies.