Description: This paper uses a mortality surge model to estimate the total financial impact on the U.S. insurance industry of a flu pandemic. It does not attempt to determine the probability of such a pandemic.

Description: This article will focus on introducing where IFRS17 differs from US GAAP conceptually, and key aspects of this paradigm shift from actuaries’ perspective.

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: Identifies current trends and considerations when setting the mortality improvement assumption for individual life insurance in the US.

Description: Compares Term VM-20 modeled reserves at low credibility factors.

Description: Look into history of long-term care insurance industry to understand the forces that shaped current industry's position and to identify new directions.

Description: Review of changes made to life insurance taxation in Australia.

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: Article Book Review by Ray in The Actuary, January 1979, Volume 13, Number 1