Description: Future mortality improvement is an important assumption in the valuation of life insurance and annuities. In this session, presenters will discuss the work of the Mortality Improvement subgroup of the American Academy of Actuaries’ Life Experience Committee and the Society of Actuaries’ Preferred Mortality Oversight Group Valuation Basic Table Team in developing mortality improvement scales for AG-38 and VM-20. In addition, two recent SOA efforts on mortality improvement will be examined. Research on developing a broader framework for modeling mortality improvement assumptions is being developed to enable U.S. actuaries additional ways to follow a consistent approach across a variety of actuarial practice applications. Results from a study on U.S. population mortality by socioeconomic category and how it fits into the broader consistent framework will be presented. Additionally, results of a survey on mortality improvement practices of life insurance companies and reinsurers in Canada and the U.S. will be shared.

Description: The Society of Actuaries Strategic Research Program Steering Committee is pleased to release this report examining how well people estimate their own life expectancy.

Description: The Society of Actuaries (SOA) has partnered with LIMRA and the American Council of Life Insurers (ACLI) to conduct a series of ‘sprint’ surveys on the COVID-19 pandemic and its potential impacts on the insurance industry. Because market conditions greatly impact the value of insurance companies’ assets and liabilities, one of these “sprint” surveys focused on best practices around asset and liability management (ALM). The survey was directed at actuaries, investment managers, and risk managers directly involved in assessing the impact of recent events on ALM. Responses to the survey were collected between August 17-31, 2020. Twenty-six companies responded to the survey.

Description: The Society of Actuaries (SOA) has partnered with LIMRA and the American Council of Life Insurance (ACLI) to conduct a series of ‘sprint’ surveys on the coronavirus (COVID-19) pandemic and its potential impacts on the U.S. life insurance industry. This report contains a summary of the results of the second survey on best practices in monitoring and modeling the potential impact of COVID-19 mortality on life insurance industry claims.

Description: The COVID-19 pandemic infection has greatly affected the economy, resulting in volatile market conditions. Because market conditions greatly impact the value of insurance company’s assets and liabilities, the fourth survey in this series focused on best practices around asset and liability management (ALM). The survey was directed at actuaries, investment managers and risk managers directly involved in assessing the impact of recent events on ALM. Responses to the survey were collected between April 22-28, 2020. Thirty-two companies responded to the survey.

Description: View the COVID-19 Low Interest Rate Environment Cash Flow Testing Survey Summary of Results April 23, 2020

Description: The goal of the third survey in this series is to collect and disseminate information on best practices around sales and the issuance of new business. The survey was directed at staff directly involved in assessing the impact of recent events on new business processes.

Description: ALM #2 Survey Questions