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Non-Variable Annuity PBR and Statutory Reserving Updates
VM-21 requirements, with additional disclosure for dynamic assumptionsPolicyholder Behavior(Modeled Reserve) ... a similar business segment e) Dynamic Assumptions – Encourage dynamic assumption-setting and require ...- Authors: Christopher Conrad, Jason Kehrberg, John Miller
- Date: Aug 2020
- Competency: External Forces & Industry Knowledge
- Topics: Annuities; Annuities>Reserves - Annuities; Financial Reporting & Accounting; Financial Reporting & Accounting>Statutory accounting
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PBR Impacts to Annuities
further, additional sensitivity testing around dynamic assumptions, remainder TBD. 7-11 – Liability Assumptions ... conditions if using static assumptions or one-sided dynamic assumptions c) Non-Guaranteed Elements (NGEs) ...- Authors: Yuan Tao, Joshua Chee, Albert Zlogar
- Date: May 2020
- Competency: External Forces & Industry Knowledge
- Topics: Annuities; Annuities>Equity-indexed annuities; Financial Reporting & Accounting>Statutory accounting
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Session 179: What Do I Need to Know if I'm Not Implementing PBR?
Session 179: What Do I Need to Know if I'm Not Implementing PBR? Companies exempt from ... VM-31 3.D.2.e Table showing numerical static and dynamic validation results, and commentary on these results ...- Date: Mar 2020
- Competency: External Forces & Industry Knowledge
- Topics: Actuarial Profession; Actuarial Profession>Standards of practice; Financial Reporting & Accounting; Financial Reporting & Accounting>Statutory accounting
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Session 137: Pension Plan Hibernation: Don't Poke the Sleeping Bea
Session 137: Pension Plan Hibernation: Don't Poke the Sleeping Bea Near the end of a pension ... factors to its proprietary models. Due to the dynamic nature of factors affecting markets, there is no ...- Authors: Brett Dutton, Rene Martel, Hilja Viidemann
- Date: Feb 2020
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting; Financial Reporting & Accounting>Statutory accounting; Life Insurance; Life Insurance>Product development - Life Insurance; Pensions & Retirement; Pensions & Retirement>Defined contribution and 401k plans
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Session 15 - Update on AG 43 and C3 Phase 2 Revisions
C3P2 CTEA 90 Best Efforts (reflects static and dynamic hedging) C3P2 CTEA 90 Adjusted (reflects static ... CTEA 70 Best Efforts (reflects static and dynamic hedging) AG43 CTEA 70 Adjusted (reflects static ...- Authors: Zohair Motiwalla, Lance Berthiaume, Yuan Tao, Nicholas Carbo, Stephen Matthew Tizzoni FSA,MAAA
- Date: Sep 2019
- Competency: External Forces & Industry Knowledge
- Topics: Annuities>Variable annuities; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting
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Session 49 - Practical Perspectives from VM-20 Implementations Workshop
assumptions for expenses on PBR • Some are using dynamic assumptions for premium, lapse, inflation that ... business given low experience • Uncertainty about dynamic lapse assumptions and whether margins need to be ...- Authors: Thomas Bruns, Timothy Cardinal, Reanna Nicholsen, Laura Hanson, John Robinson, Dylan Strother
- Date: Sep 2019
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance
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Session 81 - PBR Workshop - Life Insurance
Session 81 - PBR Workshop - Life Insurance In this workshop format session, attendees will ... Independent calculation B. Attribution Analysis C. Dynamic validation D. Third-party validation E. Others ...- Authors: Paul Fedchak, Carrie Kelley, Yibo Yan
- Date: Sep 2019
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting; Financial Reporting & Accounting>Statutory accounting
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Session 37 - PBR Attribution Analysis: How to Explain Reserve Movements
Session 37 - PBR Attribution Analysis: How to Explain Reserve Movements A session detailing how to ... be Not enough information alone to perform a dynamic validation/analysis Mainly supports analysis ...- Authors: Leonard Mangini, William Sayre, Dylan Strother, Chris Whitney, Kunalajit Kang
- Date: Aug 2019
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting
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08 - Regulatory Role Play
to the current methodology for establishing “dynamic” valuation interest rates in the Standard Valuation ... to the current methodology for establishing “dynamic” valuation interest rates in the Standard Valuation ...- Authors: Brian Bayerle, Laura Hanson, John Robinson
- Date: Aug 2019
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting; Financial Reporting & Accounting>Statutory accounting
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Regulatory Update for 2013
Regulatory Update for 2013 The article summarizes recent regulatory discussions of interest to ... Since events in the industry remain volatile and dynamic, readers are strongly encouraged to read email ...- Authors: Norman E Hill
- Date: Mar 2014
- Competency: External Forces & Industry Knowledge
- Publication Name: Small Talk
- Topics: Financial Reporting & Accounting>Statutory accounting
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Chairpersons Corner Another Good Year for SmallCo
Chairpersons Corner Another Good Year for SmallCo A review of the major activities and accomplishments ... above, we are also on the POG for the project “Dynamic Policyholder Behavior.” It is likely that we will ...- Authors: Mark C Rowley
- Date: Sep 2013
- Competency: External Forces & Industry Knowledge
- Publication Name: Small Talk
- Topics: Financial Reporting & Accounting>Statutory accounting
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Principle-Based Reserves Update
Principle-Based Reserves Update Update on the Standard Valuation Law amendments and the ... streams if not guaranteed. Credit for a company’s dynamic hedging risk 7. mitigation techniques are currently ...- Authors: Karen Rudolph
- Date: Sep 2008
- Competency: External Forces & Industry Knowledge
- Publication Name: The Financial Reporter
- Topics: Financial Reporting & Accounting>Statutory accounting
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Where Have You Gone, Formula Reserves? Update on Principles-Based Reserves for Life Insurance
Where Have You Gone, Formula Reserves? Update on Principles-Based Reserves for Life Insurance ... correlating with the economic scenarios—for example, dynamic lapse rates—is to be reflect- ed in the stochastic ...- Authors: Richard Daillak
- Date: Aug 2006
- Competency: External Forces & Industry Knowledge
- Publication Name: Reinsurance News
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance; Reinsurance>Reserving - Reinsurance
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Actuarial Guideline 38 Now and the Future
Actuarial Guideline 38 Now and the Future Panelists and participants discuss the past and present, ... of people look at these products somewhat on a dynamic basis, certainly from a pricing perspective. But ...- Authors: Todd Erkis, Elinor Friedman, David Weinsier
- Date: Jan 2005
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting
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Risk-Based Capital
was the first official filing. It's basically a dynamic tool for measuring solvency, relative to the scale ... vanilla, equity index. I would guess that's a dynamic thing, but I'm not sure. We know from our equity ...- Authors: Craig Likkel, Lloyd Spencer
- Date: Sep 2004
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting
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Valuation Issues Arising from the Current Economic Environment
future there will be no more formulas. It's a dynamic valuation environment and the number is whatever ... management. It's really problematic because the more dynamic the valuation framework becomes, the more you're ...- Authors: David A Ricci, Francis Sabatini
- Date: Sep 2003
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Risk-Based Capital C-3 Testing
more consistent with recent industry advances in dynamic cash-flow testing. Copyright © 2001, Society ... formula change is that it does capture both the dynamic and integrated nature of asset/liability management ...- Authors: Nancy Bennett, Hubert B Mueller, Miles B Yakre
- Date: Sep 2000
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Guaranteed Separate Account Products - NAIC Reserving Proposals
account. The liability is valued with the same dynamic valuation rates, and so on. Everything is just ... the goals are the same. If we move to this new dynamic C-3 testing that we were talking about at a workshop ...- Authors: Robert A Brown, Michael A Cioffi, Larry M Gorski
- Date: Oct 1999
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Appointed Actuaries at Risk?
Appointed Actuaries at Risk? This article intends to provide some background on how and when the state ... One example is that some states adopted the dynamic maximum valuation interest rates for annuities ...- Authors: Shirley Hwei-Chung Shao
- Date: Oct 1999
- Competency: External Forces & Industry Knowledge
- Topics: Actuarial Profession; Financial Reporting & Accounting>Statutory accounting
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Small Company Issues
Small Company Issues 1999 Valuation Actuary Symposium, Los Angeles. This session discussed ... they’re talking about, in which you’re going to do a dynamic financial analysis, you’re probably going to have ...- Authors: Charles K Chacosky, Paul J Sulek, Douglas Knowling, Rodney Keefer, Brett E Morris
- Date: Sep 1999
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Ask the Experts
Ask the Experts This presentation is an open forum, session number 44, presented at the 1999 Valuation ... I would add that there should be some kind of dynamic link on your different scenarios to the rates of ...- Authors: Daniel J McCarthy, Craig R Raymond, Edward Robbins
- Date: Sep 1999
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting
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New UVL Update
called a viability report. This is similar to the dynamic financial condition analysis proposals, looking ... personal opinion again is that one of the reasons the dynamic financial condition 1999 Valuation Actuary Symposium ...- Authors: Larry Baber, Arnold Dicke, R Thomas Herget, Kerry Krantz, David Sandberg
- Date: Sep 1999
- Competency: External Forces & Industry Knowledge
- Topics: Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Proposed Changes to the Statutory Risk-Based Capital Requirements
Proposed Changes to the Statutory Risk-Based Capital Requirements Panelists provide an overview of ... Risk-Based Capital Task Force. We have a very dynamic panel to talk about risk-based capital (RBC) ...- Authors: Robert A Brown, Joseph Dunn, Larry M Gorski, Cande Olsen
- Date: Oct 1998
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Regulatory Topics
1997 issues, which was 5.5%. I looked at the dynamic valuation law, which was 4.5%. I called the actuary ... the valuation date, then perhaps they need to do dynamic solvency testing. If they say that the rates ...- Authors: Larry M Gorski, Mark Greene, Kerry Krantz
- Date: Sep 1998
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting
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Approach in Drafting a Unified Valuation Law - Issues without End
Approach in Drafting a Unified Valuation Law - Issues without End This article explains the ... isfy another objective of a new valuation law for dynamic financial information. New business projections ...- Authors: Norman E Hill
- Date: May 1998
- Competency: External Forces & Industry Knowledge
- Publication Name: Small Talk
- Topics: Financial Reporting & Accounting>Statutory accounting
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New UVL Update
New UVL Update 1998 Valuation Actuary Symposium. The panelists provided background about the Unified ... appointed actuary would have to certify that a dynamic financial condition analysis (DFCA) report, had ...- Authors: Arnold Dicke, Meredith Ratajczak, Robert Wilcox
- Date: Jan 1998
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Current Developments in Financial Reporting
NAIC RBC & AVR 4. Asset Adequacy Analysis 5. Dynamic Financial Condition Analysis 6. Present Value ... TABLE 3 LIST OF TOOL CHARACTERISTICS 1. Static or dynamic 2. Unique result? 3. Ease of auditing 4. Ease of ...- Authors: Arnold Dicke, Shirley Hwei-Chung Shao, William C Weller, Robert E Wilcox
- Date: Oct 1997
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Global Perspectives
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Current Developments in Financial Reporting
for use on annuities? Is it dynamic enough? Do we need to go to a more dynamic yield curve approach? Should ... applies to all contracts issued from the date of dynamic interest, which is 1981 on and, again, as he pointed ...- Authors: Frank Buck, Frank P Dino, Donna Claire
- Date: Apr 1995
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Risk-Based Capital: Industry Implications
tool that could be used is cash-flow testing or dynamic solvency testing. The Alliance came out with their ... a replace- ment, but is still an alternative. Dynamic solvency testing or cash-flow testing will probably ...- Authors: Ralph S Blanchard, Frederick O Kist
- Date: Apr 1994
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Appointed Actuary Update: Is the U.S. on the Right Track?
About 50% had looked at the persistencyand the dynamic persistency. Twenty-five percent tested expenses ... SensitivityTesting Mortality Base persistency I 52 Dynamic persistency ( 52 Expenses I 25 Base premium persistency ...- Authors: Frank Buck, Robert J Callahan, Robert H Dreyer, Susan M Ende, Robert E Winawer
- Date: Oct 1993
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Product Development in the Age of Risk-Based Capital
Product Development in the Age of Risk-Based Capital 1993 SOA Annual Meeting, New York. This ... risk where you're t_yingto essentiallylook at a dynamic situationof balancing assets/liabilitiesout for ...- Authors: Michael Cowell, A Hemphill, Robert W Omdal, Application Administrator, John Dawson
- Date: Oct 1993
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Reserve Testing and the C-1 Risk
Reserve Testing and the C-1 Risk 1993 SOA Meeting, Quebec. Actuaries doing reserve testing under ... reasonable." The recently released report of the Dynamic SolvencyTask Force also says that "the actuary ...- Authors: Nicholas Bauer, Linn Richardson, Michael L Zurcher, Warren R Adams
- Date: Jun 1993
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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New Standard Valuation Law SVL
the solvency issue. The Society of Actuaries Dynamic Solvency Task Force released a report in March ... this guarantee system. The Society of Actuaries Dynamic Solvency Task Forcedeveloped a planthat covers ...- Authors: Douglas Doll, Donna Claire, Douglas Knowling, James N Gorsline
- Date: Jun 1993
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance; Public Policy
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Risk-Based Capital
Risk-Based Capital 1993 SOA Spring Meeting, San Diego. This session is about risk-based capital, ... appliedconsistently. As previouslymentioned,a more dynamic approach would be appropriate,if feasible. Those ...- Authors: Darrell Knapp, Karl Madrecki, James N Roberts
- Date: Apr 1993
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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The Valuation Actuary – 1991 Developments
assumptions that can be made, e.g., for the dynamic lapse factor, which would be equally accurate ... first policy year, grading up 0.5% thereafter. A dynamic lapse formula was determined as follows: Base ...- Authors: Douglas Doll, Donna Claire, Steven A Smith, Sheldon Summers, William T Bryan
- Date: Jan 1991
- Competency: External Forces & Industry Knowledge
- Topics: Annuities>Reserves - Annuities; Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance
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Cash-Flow Projection Methods and Assumptions
the higher valuation rates allowable under the dynamic valuation law for valuing annuity and GIC reserves ... cies and action plans. You'll want to emulate the dynamic investment environment. And you've got to remember ...- Authors: Jacqueline M Keating, Douglas J Collins, Timothy Harris, R Thomas Herget
- Date: Oct 1990
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Current Research and Alternative Technologies
t ime that the investment s t rategy, is dynamic but it is felt that the above ph i losoph ies ... assumption is def ined as follows: the formula is dynamic, and is equa l to a baseline amount plus two times ...- Authors: Arnold Dicke, Douglas Doll, Gregory D Jacobs
- Date: Sep 1987
- Competency: External Forces & Industry Knowledge
- Topics: Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods
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Accounting Issues For Insurance Companies
Accounting Issues For Insurance Companies This session from the 1983 SOA Vancouver Meeting ... take that one step further and convert it into a dynamic approach instead of a static approach, the pre-set ...- Authors: Grace V Dillingham, Douglas A Eckley, Glen Gammill, Norman E Hill, Clark Ramsey, Neal N Stanley
- Date: May 1983
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting
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Nonforfeiture and Valuation Concerns in the 1980's
membership is basically in two parts: One part is the dynamic interest rate and the other part is deemed or conjecturized ... the ACLI release of M_rch 21 which includes the dynamic proposal as well. NONFORFEITURE AND VALUATION ...- Authors: John C Angle, Ardian Gill, Richard S Miller, William K. Nicol
- Date: Apr 1980
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Publication Name: Record of the Society of Actuaries
- Topics: Annuities; Financial Reporting & Accounting>Statutory accounting; Life Insurance; Public Policy
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Proposed - A Dynamic Valuation Interest Rate
Proposed - A Dynamic Valuation Interest Rate This panel discussion session focuses on a proposal to ...- Authors: James Bridgeman, Yuan Chang, Carl R Ohman, Hodge L Jones
- Date: Oct 1979
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Measurement of Financial Results
you can bring in, and on a whole series of other dynamic factors, rather than the static factors that we ... measurement system might be characterized as a dynamic closed-end cycle. Future production capacity eventually ...- Authors: Donald D Cody, Richard S Robertson, Robert Shapiro, Harry D. Garber
- Date: May 1977
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting