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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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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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Minimum Guaranteed Benefits on Variable Annuities
done to validate models on both a static and dynamic basis. The model used must fit the purpose. These ... available. Again, it's important to consider dynamic policyholder behavior because there are definitely ...- Authors: J Gaule, Larry M Gorski, James W Lamson, John M O'Sullivan
- Date: Jan 2005
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- 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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Capital Requirements for Investment Risks - Regulatory, Rating Agency and Economic Approaches
risk will be. There will be more stochastic and dynamic modeling. I think the regulatory implementation ... your competitor rate definition? What's your dynamic lapse formula assumption? Again, from an M&A perspective ...- Authors: Michael J O'Connor, Jeff Gimbel, Christian Shiemke, Jose Siberon, Nathan Hardiman
- Date: Jun 2004
- Competency: Technical Skills & Analytical Problem Solving>Incorporate risk management
- Publication Name: Record of the Society of Actuaries
- Topics: Enterprise Risk Management>Risk measurement - ERM; Finance & Investments>Risk measurement - Finance & Investments; 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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Appointed Actuary Forum
different requirements for how close my static and dynamic validations would have to come before I had confidence ... was replaced with something a little bit more dynamic. I hate to see what that would be offhand, but ...- Authors: Stephen Marco, Meredith Ratajczak, David A Ricci
- Date: Sep 2003
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Statutory accounting; Public Policy
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2001 CSO Mortality Table - The Time is Approaching
2001 CSO Mortality Table - The Time is Approaching This session from the 2003 Washington D.C. ... adopted in the 2001 male composite ultimate and dynamic valuation interest rates for purposes of valuing ...- Authors: William Carroll, Abraham Gootzeit, Kenton L Scheiwe, Brian King
- Date: May 2003
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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Advanced Regulatory Topics
Advanced Regulatory Topics Regulators share their perspective on a variety of issues ... American Academy of Actuaries=AAA;Annuity reserves;Dynamic simulation models;Guaranteed living benefits=GLB;Health ...- Authors: Karen Rudolph, Ernest Johnson, Kerry Krantz, Henry Siegel, Bruce D Sartain
- Date: Sep 2002
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Professional Values>Practice expertise; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Topics: Actuarial Profession>Qualifications; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Practitioner's Forum
Life Insurance (ACLI) actuarial committees on dynamic valuation interest rate proposal. The speakers ... what everyone is going to do. That’s like the dynamic valuation interest rates in the standard valuation ...- Authors: James Bridgeman, Norman E Hill, Joseph A Sikora
- Date: Nov 2001
- Competency: Technical Skills & Analytical Problem Solving>Incorporate risk management; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Ask The Experts
Ask The Experts From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena ... below the minimum standards. We then considered dynamic financial condition analysis. I believe the unified ...- Authors: Frank M Amrine, Andrew Bodine, Armand de Palo, Mark Freedman, Charles D Friedstat, James P Greaton, Meredith Ratajczak, William J Schreiner, Stephen N Steinig
- Date: Nov 2001
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Problem analysis and definition; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Financial Reporting & Accounting>Tax accounting; Public Policy
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Statutory Reserving Update-Life Products
casualty actuaries whom I've talked to, about dynamic financial analysis (DFA), feel like what they have ... responsibility, I think that it'll take on a very different dynamic than feeling as if they're trying to chase or avoid ...- Authors: Thomas Campbell, Michael Eckman, David Sandberg, Andrew M Erman
- Date: Oct 2000
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance
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General Session
adequacy. The SOA published, in early 1995, the Dynamic Financial Condition Analysis Handbook, which was ... actuary would prepare a viability analysis or dynamic financial analysis that includes new business ...- Authors: Errol Cramer, Douglas Doll, Sam Gutterman
- Date: Sep 2000
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Practitioner's Forum
Practitioner's Forum From an interactive forum session at the 2000 Valuation Actuary ... flow testing;Conditional Tail Expectation=CTE;Dynamic simulation models;Guaranteed living benefits=GLB;Life ...- Authors: Franklin Clapper, Armand de Palo, Kenneth Hammond, Isadore Jermyn, Hal B Phillips, Stephen N Steinig, Robert Buckner
- Date: Sep 2000
- Competency: Communication>Written communication; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Finance & Investments>Asset liability management; Financial Reporting & Accounting>Statutory accounting
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Regulatory Topics
Regulatory Topics From a session at the 2000 Valuation Actuary Symposium held in Washington ... strict number thing. We began to move to a more dynamic type of item. It is clearer when you look at what ...- Authors: William Carroll, Rodney E Friedy, John A Hartnedy, Kerry Krantz, Robert Potter
- Date: Sep 2000
- Competency: Professional Values>Public interest representation; Relationship Management>Relationships and trust
- Topics: Actuarial Profession>Professional associations; Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Small Company Issues
experience monthly. That seems to be far more dynamic in causing changes on a monthly basis than anything ... standard assumptions. Then you have to do your dynamic valuation, which is basically where you true up ...- Authors: Stephen Marco, John Miller, Lori A. Truelove
- Date: Sep 2000
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Topics: Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods; 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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Unified Valuation System Update
viability report. In the past, it might be called a Dynamic Financial Condition Analysis (DFCA) analysis. ... would have to do if they were going to implement a dynamic financial analysis (DFA)-type approach to financial ...- Authors: David C Jesionowski, David Sandberg, Donna C Novak, Sam H Dillard
- Date: Jun 2000
- Competency: Results-Oriented Solutions>Actionable recommendations; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Publication Name: Record of the Society of Actuaries
- Topics: Finance & Investments>Risk measurement - Finance & Investments; Financial Reporting & Accounting; Financial Reporting & Accounting>Fair value accounting; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods>Dynamic simulation models; Public Policy
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ZZZ and ZZZZ Update
criteria apply to optional replication, which permits dynamic hedging of an aggregation of policyholder liabilities ... the wording changed, essentially, to reflect a dynamic total portfolio hedging strategy. The other main ...- Authors: Alan Downey, Martin E Goldman, James P Greaton
- Date: Jun 2000
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods; 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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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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Update on Mutual Holding Companies
Update on Mutual Holding Companies 1998 SOA Annual Meeting, New York. Panelists discussed the ... value of the company. There's an organizational dynamic. Companies should be valued, not on a book basis ...- Authors: Jeffrey Beckley, Carl Harris, E Tom Hughes, Thomas P Tierney
- Date: Oct 1998
- Competency: Results-Oriented Solutions
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Public Policy
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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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Life and Annuity Valuation Issues
VALUATION ISSUES MR. R. THOMAS HERGET: We have a dynamic panel consisting of Donna Claire and Jim Greaton ... floor) in the UVS. We do anticipate preparing a dynamic financial condition analysis. We'll be calling ...- Authors: James P Greaton, R Thomas Herget, Donna Claire
- Date: Sep 1998
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting
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Ask The Experts
dramatically. The dynamic formulas that a lot of companies are using are probably not dynamic enough or they ... the issues that we have discussed, like the dynamic lapse assumption, policyholder behavior, and many ...- Authors: David N Becker, Donna Claire, Craig R Raymond, Stephen A J Sedlak
- Date: Jan 1998
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Practical and Theoretical Considerations in Strenghening Reserves Based on Cash-Flow Testing
Insurance Holding Company Act. Very little static or dynamic validation was ever performed. A representative ... purposes? Are companies validating the resulting dynamic 1terns like surrenders and death benefits, renewal ...- Authors: Karen Rudolph, Gerald A Lockwood, Stephen A J Sedlak, Stephen A Zonca, Stephen M Finley
- Date: Jan 1998
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance
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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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Equity-Indexed Product Management
assume that lapses are 2°/'0 a year. There are no dynamic assumptions on lapses at this point. This illustrates ... our product, that would be fine. We're doing a dynamic hedging program. The problem is the time steps ...- Authors: Michael J Hambro, Jean-François Poulin, Craig Fowler
- Date: Jan 1998
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Annuities>Equity-indexed annuities; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Dynamic Financial Condition Analysis Update
Dynamic Financial Condition Analysis Update 1998 Valuation Actuary Symposium. Dynamic Financial ...- Authors: Michael Eckman, James Reiskytl, Craig Reynolds, Norman J Zwitter
- Date: Jan 1998
- Competency: 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 Topics in Annuity Financial Reporting
of guaranteed benefits. Second, a structure of dynamic valuation interest rates was put into place to ... Reporting 23 Mr. Harrington: It has to be a dynamic calculation in the program. Mr. Robinson: Yes ...- Authors: Thomas Campbell, Errol Cramer, John Harrington
- Date: May 1996
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Annuities; Financial Reporting & Accounting; Financial Reporting & Accounting>Statutory accounting
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Life Valuation Issues XXX/Regulation 147
Life Valuation Issues XXX/Regulation 147 Presented at September 1995 Valuation Actuary ... guarantees require recasting of reserves, so XXX is dynamic. At the policy level, there is inconstancy. Assumptions ...- Date: Sep 1995
- Competency: External Forces & Industry Knowledge>Actuarial theory in business context
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance
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Practitioners' Forum
company, be advantageous. Now when you get into dynamic solvency testing, that's a whole different ballgame ... they are GAAP uses, financial projection uses, dynamic solvency testing, or other uses for the financial ...- Authors: David N Becker, Charles D Friedstat, Michael E Mateja, Stephen A J Sedlak
- Date: Sep 1995
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Finance & Investments>Asset liability management; Financial Reporting & Accounting>Statutory accounting
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State Variations and Reconciliation Requirements for Valuation/Appointed Actuaries
State Variations and Reconciliation Requirements for Valuation/Appointed Actuaries Presented at September ... One example is that some states adopted the dynamic maximum valuation interest rates for annuities ...- Authors: Frank Buck, Shirley Hwei-Chung Shao
- Date: Sep 1995
- Competency: Professional Values>Public interest representation; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Financial Reporting & Accounting>Statutory accounting
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Long-Term Care
Long-Term Care Presented at September 1995 Valuation Actuary Symposium. This session ... chapter of the Dynamic Financial Condition Analysis Handbook. We used to call this the Dynamic Soh,ency Handbook ...- Authors: Burton Jay, Bartley L Munson, James Robinson
- Date: Sep 1995
- Competency: External Forces & Industry Knowledge>External forces and business performance; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Financial Reporting & Accounting>Statutory accounting; Long-term Care>Long-term care insurance; Technology & Applications>Software
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Ask The Experts
more related questions. These have to do with dynamic lapses. Again, there's a series of questions ... structure of the formula and the actual factors) for dynamic lapsation? Do companies change their formula from ...- Authors: Shane A Chalke, J Duran, Daniel J McCarthy, Karen MacDonald
- Date: Sep 1995
- Competency: Professional Values>Practice expertise; Professional Values>Public interest representation; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Financial Reporting & Accounting>Statutory accounting
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Report on Dynamic Solvency Testing Research DST
Report on Dynamic Solvency Testing Research DST This session from the 1995 SOA Spring Meeting discusses ... to dynamic solvency testing - DST. From Record of Society of Actuaries Vol. 21, No. 1. Dynamic simulation ...- Authors: Allan Brender, Steve Dobronyi, Donna Claire, Godfrey Perrott
- Date: Apr 1995
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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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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Forum on Dynamic Solvency
Forum on Dynamic Solvency 1994 SOA Spring Meeting, San Francisco. This session provided an overview ... 3. Progress on the SOA's Dynamic Solvency Handbook. 4. Dynamic solvency research. 5. Canadian ...- Authors: Shane A Chalke, William James, Daniel J Kunesh, James Reiskytl, Craig Reynolds, Maria Thomson, Michael Hughes
- Date: May 1994
- Competency: Professional Values
- Publication Name: Record of the Society of Actuaries
- Topics: Actuarial Profession; Financial Reporting & Accounting>Statutory accounting; Public Policy
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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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Managing Statutory Performance
Managing Statutory Performance 1992 SOA Annual Meeting, Washington, D.C. The stated purpose ... But I do think that this focus toward a more dynamic and aggressive management of the products is necessary ...- Authors: Patricia Guinn, Terence Lennon, David E Neve, Robert Ozenbaugh
- Date: Oct 1992
- Competency: Results-Oriented Solutions; Strategic Insight and Integration
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Meeting the Needs for Financial Information
Meeting the Needs for Financial Information This session is about meeting the ... standards;Asset liability management=ALM;Capital management;Dynamic simulation models;Economic value;Embedded value;Fair ...- Authors: Bruce Darling, Michael E Mateja, R Stephen Radcliffe
- Date: Oct 1992
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Strategic Insight and Integration>Effective decision-making; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Understanding Generally Accepted Accounting Principles [GAAP] and Statutory Profitability
Understanding Generally Accepted Accounting Principles [GAAP] and Statutory Profitability Presenters ... Another major deviation from FAS 60 is our use of dynamic assumptions. That is, we change our prospective ...- Authors: Randall Boushek, John W Brumbach, Paul S Graham, Craig R Raymond
- Date: Jan 1992
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Financial Accounting Standards Board [FASB]; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; 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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Standard Valuation Law
Standard Valuation Law This session at the SOA 1990 Hartford Spring Meeting is about proposed ... a process of reflecting underlying risk using dynamic interest rates segmented by product type and guarantee ...- Authors: Robert J Callahan, Frank S Irish, Application Administrator, Donald R Sondergeld
- Date: Apr 1990
- Competency: Technical Skills & Analytical Problem Solving
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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The Future Measurement of Financial Solvency of Life/Health Insurance Companies in the United States
Non- Forfeiture Law in the United States. The dynamic solvency test which actuaries will be required ... approach to evaluating solvency and solidity. This dynamic approach is very straightforward and it aplSlies ...- Authors: Allan Brender, Sam Gutterman, Curtis E Huntington, Richard Kischuk
- Date: Oct 1988
- Competency: External Forces & Industry Knowledge>Actuarial theory in business context
- Publication Name: Record of the Society of Actuaries
- Topics: Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Statutory accounting
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The Future of the Mandatory Securities Valuation Reserve [MSVR]
NAIC amendments in December 1980 provided for dynamic valuation interest rates determined for each calendar ... since the adoption of the dynamic interest rates. The industry had to adopt dynamic interest rates to be competitive ...- Authors: Thomas K Hartman, Barry S Paul, James Reiskytl, Peter L Smith
- Date: Jun 1988
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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New York Regulation 126 Revisited
(SPL) issued during or after 1982 (or after the Dynamic Valuation Law) must be cov- ered in the opinion ... requirements. The rewrite is more specific that a dynamic lapse formula should be used where applicable; ...- Authors: Peter B Deakins, Donna Claire, Peter L Smith, Steven A Smith
- Date: Jun 1988
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Finance & Investments>Asset liability management; Financial Reporting & Accounting>Statutory accounting
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C-3 Risk and Liability Hedging
range of possible outcomes. d. There are many dynamic assumptions and relationships between asset cash ... reasonable and comprehensive in nature. The choice of dynamic assumptions for both asset and liability cash ...- Authors: William Britton, Douglas Doll
- Date: Jan 1988
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Financial Reporting & Accounting>Statutory accounting; Life Insurance>Universal life; Life Insurance>Whole life; Public Policy
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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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Statements of Actuarial Opinion and the Valuation Actuary
to the rapidly changing conditions through its dynamic provisions for interest rate assumptions. It was ... offsetting cash flow characteristics and coordinated dynamic investment strategies. The combination of risks ...- Authors: Carl D Anderson, Burton Jay, Michael E Mateja, I Edward Price, Ian M Rolland, Walter Rugland
- Date: May 1987
- Competency: Professional Values>Practice expertise
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Selection of Scenarios and Assumptions for Valuation Actuary Work
and profitability for their sensitivity to a dynamic and unknown future environment using multiscenario ... publication of the regulation last year. When the Dynamic 1398 SCENARIOS AND ASSUMPTIONS FOR VALUATION ...- Authors: Allan Brender, Reed Miller, Edward P Mohoric, James Stoltzfus, Francis X Cody
- Date: May 1987
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting
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Status of the Valuation Actuary in the United States
amendments, the Technical Advisory Committee on Dynamic In terest and Related Matters to the NAIC (C-4) ... Health Subcommittee stated: The ACLI's proposed dynamic law would not change the basic existing legal ...- Authors: Burton Jay, Edward Silins, Robert Stein
- Date: Jan 1987
- Competency: Technical Skills & Analytical Problem Solving
- Topics: Actuarial Profession; Financial Reporting & Accounting>Statutory accounting
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Valuation Reports for Regulators
Valuation Reports for Regulators From the 1986 Valuation Actuary Symposium, held in Washington ... Basical ly, New York was concerned about the Dynamic Valuat ion Law as it was and did not want companies ...- Authors: Donna Claire
- Date: Oct 1986
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Actuarial Profession>Qualifications; Actuarial Profession>Standards of practice; Financial Reporting & Accounting>Statutory accounting; Public Policy
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Summary of Current and Future Regulatory Requirements
, the Techn ica l Advisory Commit tee on Dynamic In teres t and Re la ted Mat ters to the NAIC ... Subcommit tee s tated , The ACLI's proposed dynamic law would not change the basic exist ing legal ...- Authors: John K Booth, Robert M Hammond
- Date: Oct 1986
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations
- Topics: Actuarial Profession>Code of Conduct; Actuarial Profession>Qualifications; Actuarial Profession>Standards of practice; Annuities>Reserves - Annuities; Financial Reporting & Accounting>Statutory accounting; Life Insurance>Reserves - Life Insurance; Public Policy
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Current Topics In Financial Reporting
Current Topics In Financial Reporting Presented at October 1986 Annual Meeting. This session ... including new business levels, and, thus, have a dynamic rather than a static system for testing solvency ...- Authors: Wayne Kauth, William J Schreiner, Wayne S Upton, George R. Wallace
- Date: Oct 1986
- Competency: External Forces & Industry Knowledge>External forces and business performance
- 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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Making Valuations Using Cash Flow Analysis
Making ... good and suf f i c ient reserves is t ru ly a dynamic one, and we undoubtedly sti l l have much ... l iabi l i t ies. Durat ion match ing is a dynamic s t ra tegy , espec ia l ly if in teres t ...- Authors: Joseph J Buff, Michael E Mateja, Michael R Tuohy
- Date: Oct 1986
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Finance & Investments>Asset liability management; Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods
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Individual Health Insurance Reserve Issues
1987. It would seem preferable to have a more dynamic approach for determin- ing the interest rate, perhaps ... date. In effect, that would move us back to the dynamic interest rate provided for under the existing minimum ...- Authors: E Paul Barnhart, Robert Dobson, Jan O'Sullivan, Mark E Litow, W H Odell
- Date: Oct 1985
- Competency: External Forces & Industry Knowledge>External forces and business performance; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Statutory accounting; Health & Disability>Health insurance