Description: U.K. life insurers writing participating business have, since the end of 2004, been required by their regulator, the Financial Services Authority FSA, to value their assets and liabilities on a market-consistent basis. The purpose of this paper is to explain the new valuation approach based on market-consistent values and its rationale set out the issues faced by life insurers in implementing the new regime and explain how these issues have been addressed by insurers.

Description: An Overview of Stochastic Simulation modeling techniques and usages

Description: From a panel discussion session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Panelists discuss the embedded value process, including discount rate, uses for embedded value reporting and implementation issues. Also included a discussion of fair value accounting methodology.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of financial modeling considerations including: • Model platforms • Model structure • Static and dynamic model validation techniques • Data integrity

Description: From a teaching session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of realistic liability models for use in asset adequacy analysis, asset/liability management, pricing/repricing, financial reporting, or other purposes.

Description: Presented at October 19895 Annual Meeting. This session is about statutory, GAAP and management reporting for new life insurance and annuity products and nontraditional distribution systems.

Description: Presented at May 1985 Spring Meeting. This session discussed: Capital gains and losses accounting, Internal sales of investments among portfolios, Equity investment accounting, Internal stripping of securities, Internally manufactured puts and calls, Allocation of taxes and investment expenses among portfolios, Accounting systems needed.

Description: From the 1985 Valuation Actuary Symposium Discussion of the process for evaluating the financial soundness of an insurance organization from organizations outside of the Company

Description: This paper presents multiple book reviews: Reports from Staff of U.S. House of Representatives Committee on Ways and Means and U.S. Senate Committee on Finance, Reports in Connection with Social Security Legislation 1975-77, 'Statement on Cost Comparisons of Individual Life Insurance Policies', by Canadian Institute of Actuaries, 'Investment Activities of Life Insurance Companies' from Huebner Foundation Lectures, 'The Life Insurance Industry's Marketing Dilemma' by Johns, 'The Future of Social Security' by Munnell, 'Social Security - Today and Tomorrow' by Ball, 'Mortality Table Construction' by Batten, 'Mortality Table Construction' by Batten, 'The Crisis in Social Security - Problems and Prospects' by Boskin, 'A History of Interest Rates' by Homer, 'Indexation of Pensions and Other Benefits' by Robert Myers, 'Life Insurance Accounting' by Strain, '1978 Annual Report of the Board of Trustees of the Federal Hospital Insurance Trust Fund...' by US Congress. Brief summaries of additional readings are also included.

Description: The actuarial profession is faced with a problem of determining delta-ized reserves on a basis which will include appropriate provision for adverse deviations in mortality, lapses, interest rates, and expense rates. This paper describes briefly a method which could be used to solve this Followed by papers submitted by 2 authors problem in a flexible manner.

Description: Digests of following discussions: 1. Mutual life insurance companies - their objectives and operating philosophy 2. State, provincial, and municipal employee pension plans - financing and other problems 3. Mortality and underwriting of individual policies for large amounts 4. Investing during the 1970's 5. Long-range viability and regulation of corporate pension plans 6. Forecasting the environment for business 7. Liabilities and surplus in the 1970's 8. Changing modes of family life - work and income over the life cycle 9. The role of the actuary in collective bargaining 10. Health insurance in the United States 11. Adjusted earnings