Description: Adjusting GAAP reinsurance reserves to account for reinsurance protection against the events that trigger direct reserve constraints (such as NPR capping or LFPB flooring) can be a challenge any time. Ceding a block of business that is already in force increases the challenge—especially if one of those constraints was already present at inception of the reinsurance. This article builds on previous work (published in the July 2022 and June 2023 issues) to show how to measure initial reinsurance reserves in a way that complies with AICPA guidance and prepares for effective measurement of subsequent changes in the effects of the constraints.

Description: A discussion with an experienced actuarial manager on how the COVID-19 pandemic has impacted people management and what we can learn and apply in the actuarial profession going forward.

Description: Actuarial functions are being asked to do more with less: being challenged to provide more value to the business through applying insight and foresight. This article examines ways in which actuaries can provide business insights with very limited investment. The article provides actionable steps that actuaries easily apply to their daily work.

Description: A story about a mother/actuary’s journey of discovering her work-life balance through entrepreneurship.

Description: The incoming E&R chair for the coming year reflects on past accomplishments of the E&R council, acknowledges with thanks contributors, and looks forward to continuation in the coming year.

Description: Expanding Horizons recently had the opportunity to interview Wenjun Zhu, the winner of the Society of Actuaries’ (SOA’s) third Actuarial Science Early Career Award.

Description: Description of the mathematics involved when looking at low probability events within a company from the perspective of the C-Suite. The accumulation of small probability events leads to a much higher probability of at least one of them happening in a given period.

Description: The author shares their experiences and timeline in building an actuarial science program from scratch and reaching the Advanced Curriculum level

Description: We discuss a teaching program for new actuarial science and risk management & insurance educators at Georgia State University that includes the following topics: - Introducing insurance - Syllabus construction - Creating content and actively engaging students - Student motivation and career paths - Assessment and grading rubrics - Professional ethics and other

Description: A real life situation is posed involving a management, leadership, or other business decision, and readers are invited to submit their responses to "What Would You Do?" This issue’s case study involved a communication and mentoring issue.