Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Teaching session covering the development of realistic liability models for use in asset adequacy analysis, asset/liability management, pricing/repricing, financial reporting or other corporate purposes. The primary focus is modeling issues for variable product features, such as minimum living or death benefit guarantees on both variable life and annuities, annuity death benefit enhancements, and variable immediate annuities. Topics include: • Analysis of the special risks posed by these products • Selecting realistic dynamic assumptions • Techniques used in modeling these products • Scenario testing and result presentation to best communicate risks

Description: Feature article discussing the results of a recent ULSG AG38 Valuation Research Report.

Description: A discussion of the growing popularity of annuities with guaranteed minimum income benefits GMIB during times of bear markets and some related discussion of product features, minimum statutory reserves and capital requirements for the product

Description: This report, prepared by Advisory Subgroup I, was included as Appendix 3 of the 1987 Valuation Actuary Handbook. This advisory subgroup, or committee, was appointed by the New York Insurance Department and chaired by Donna Claire. This committee was charged with developing suggested regulations to deal with the concept of the Qualified Actuary and Actuarial Opinion and memorandum in accordance with New York’s recently amended reserve and nonforfeiture laws for guaranteed interest contracts and annuities with and without life contingencies. The actual regulation, New York Regulation 126, combines the work of the committee with Subgroup II, which focused on minimum reserve standards.

Description: Feature article discussing the synergies between Principle Based Reserves and the NAIC’s Own Risk and Solvency Assessment (ORSA).

Description: Embedded Risk in Settlement Options on Older Life and Annuity Contracts

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: The article describes changes to the computation of tax reserves as a result of the Tax Cuts and Jobs Act.

Description: From the 1986 Valuation Actuary Symposium, held in Washington DC in October 1986 A summary of the history, current, and anticipated direction of future regulatory requirements applicable to the role and methodologies of the Valuation Actuary in the USA and Canada.