The New Valuation Manual and the Life Product Development Actuary Seminar PresentationsStatutory AccounLng • SecLon 17: $500 Million Direct/Assumed Premium Threshold on Report on Controls ... Starting assets at each valuation date use the ‘direct iteration’ approach The cohort is assumed to ...
Description: The new valuation manual will begin to impact the jobs of product development actuaries before it even becomes the official reality for the valuation areas of insurance companies. Companies need to understand how the new reserve regime will impact product development cycles and profitability. Many companies are not implementing or even prepared to implement PBR in 2017, but they will need begin preparations soon. This post symposium seminar will discuss how implementing PBR is impacting product development and how actuaries may feel their roles are changing.Hide
- Authors: Douglas Robbins, Leonard Mangini, Carrie Kelley, Chris Whitney, Kimberly Steiner, Sean Pena
- Date: May 2017
- Competency: Results-Oriented Solutions; Strategic Insight and Integration
- Topics: Life Insurance>Pricing - Life Insurance; Life Insurance>Product development - Life Insurance
Session 079 PD - Navigating Assumption Setting Across Valuation Basesclosely follow federal law. The Sherman Act, is the primary U.S. antitrust law pertaining to association activities ... Statutory Accounting • Section 17: $500 Million Direct/Assumed Premium Threshold on Report on Controls ...
Description: Attend this session to understand the convergence of assumption setting across different valuation bases, including Statutory (PBR), GAAP and Embedded Value. The presenters will provide an overview of the role of assumption setting within these bases while highlighting similarities and differences. The role of credibility will be discussed, with a focus on considerations and trade-offs of the two measures for PBR mortality assumption setting (Buhlmann and Limited Fluctuation). Monitoring and unlocking of assumptions and how this fits into the management of the business will be explored. Key governance considerations will also be highlighted.Hide
- Authors: Society of Actuaries, Lisa Marie Domonkos, Sebastian Kleber, Leonard Mangini, Kevin Piotrowski
- Date: Oct 2017
- Competency: Strategic Insight and Integration
- Topics: Life Insurance>Reserves - Life Insurance