Description: Regulators share their perspective on a variety of issues including statutory reserve related issues. From a session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002

Description: From a teaching session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Discussion of the requirements under statutory codification that are of interest to actuaries. Topics included: • Policy classification • Deferred taxes • Accident and health issues • Disclosure • State differences • Implementation issues

Description: This summary of a session at the April 1976 Washington D.C. meeting presents information related to Solvency Standards for Life Companies and issues related to solvency standards and reserves.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 The National Association of Insurance Commissioners NAIC Valuation of Life Insurance Policies Model Regulation XXX sets forth the valuation requirements for life insurance with nonlevel premiums or nonlevel benefits, including term insurance and universal life with certain underlying guarantees. Panelists discussed the issues around implementation of the requirements. The issues discussed include: • Determination of X factors when no credible company mortality exists • Proper treatment of secondary guarantees in universal life insurance • Preparation of the mortality assumption opinion requirements • Impacts on product development and design

Description: This meeting session from the April 1982 Society of Actuaries meeting in Orlando, presented a discussion on allocation of assets and investment income. The discussions included: implications of allocating specific assets to particular lines of business, introduction and management of specific allocation procedures, and the principal allocation methods.

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Presents questions to actuaries who are experts in the field of actuarial valuation of insurance company assets and liabilities.

Description: This session is about meeting the needs for financial information in managing an insurance company. Topics include: 1. What are management's basic needs how are they met can financial systems continue to meet the challenge? 2. Are fundamental changes ahead for GAAP reporting? 3. Is it time for mutual companies to provide more meaningful financial information? 4. Can current regulatory reporting meet the needs of the 21st century? 5. Can separate statutory and GAAP systems continue to coexist? 6. Will the United States regulatory environment reduce our global competitiveness? 7. Variance analysis - Why your predictions were wrong - Which variances are acts of God? - Which variances should be blamed on somebody? - How to deal with interest rate fluctuations 8. Market valuation, why? - What questions are being addressed with market valuation

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Panel discussion overview of current risk-based capital RBC requirements of life insurers, as well as insight into topical issues and potential changes to RBC. Items covered include: • Recap of RBC law and RBC calculation rules • Tax impact on the factors • Common stock issue • C-3 testing • Proposed C-3 testing for Variable Annuity Guaranteed Living Benefits VAGLB • Liquidity risk issue

Description: This panel discussed studies of the risk of loss due to changes in the interest rate environment. It addressed why the C-3 risk is important and how inflation and stability in interest rates can affect the financial soundness of life insurance companies. There was also a discussion of the theoretical work being carried out to calibrate the C-3 risk of variation in interest rates and to what extent the valuation actuary can properly recognize the risk of loss from changes in the interest rate environment within the framework of valuations laws and regulations.

Description: The Society's Task Force to Study Risk of Loss from Changes in the Interest Rate Environment C-3 Risk Task Force was formed in March 1981 with the charge to quantify C-3 risk. The Task Force made a preliminary report as part of a panel discussion on C-3 risk at the Society's October 1981 meeting in Atlanta. This presentation provides an update on the progress to date and its future plans.