Description: This is the second article in a four–part series. In this article, the industry's products are examined.

Description: Outlines a generic business model for a life insurance company and concludes with thoughts on future trends and prospects.

Description: Historically different approaches have been used by actuaries in modeling mortality improvement. The SOA has recently released a framework that practitioners can use to project mortality improvement, providing methodological consistency across a range of applications.

Description: Join a discussion on the tax implications for direct writers ceding annuity blocks for both onshore and offshore reinsurance arrangements. Get an introduction to the tax consequences of the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are U.S.-based and not U.S. domiciled.

Description: IRS published final regulations on updated life expectancy and distribution period tables used for determining RMDs. The article intends to provide an overview on the development of the final regulations and highlight the key updates in final regulations, the transition rules to apply final regulations and some of the relevant issues not addressed in final regulations (e.g. MITT, Rev. Rul. 2002-62 and Notice 2004-15). The article also briefly discusses what financial institutions and actuaries would like to do before the regulations become effective on Jan. 1, 2022.

Description: This report summarizes the results of a 2022 survey examining mortality improvement practices of life and annuity companies in the U.S. and Canada.

Description: Discuss population mortality improvement trends in the U.S. This will include analysis of cause of death data and trends in mortality pre-pandemic and during the pandemic. We will also discuss ways to think about translating population mortality improvement to an insured population.Learning outcomes includea better understanding of the drivers of recent mortality improvement and insights on how to create a company view on mortality improvement.

Description: It has been a little over a year since the release of the Society of Actuaries (SOA) Research Institute's Mortality Improvement Model, MIM-2021. Since then, waves of COVID-19 have continued to occur in the U.S. The uncertainty around the COVID-19 pandemic and the slowing of U.S. general population mortality improvement prior to the pandemic are just a few of the reasons that make developing MI projection scales difficult. Uncoverthe results from intercompany surveys on mortality improvement, including one that addresses COVID-19, discover insights from a mortality expert panel on COVID-19 and future mortality, and discuss enhancements to MIM-2021. By attending the session, you will: - Understand MIM-2021 and 2022 enhancements. - Understand SOA Research Institute activities around COVID-19 and impact on mortality improvement. - Apply research results and insights presented to daily work.

Description: Variable annuity (VA) writers are facing many challenges in today's economic environment. Equity market volatility and low interest rates make guaranteed benefits increasingly expensive to hedge. Both GAAP Long Duration Targeted Improvements and the recent VM-21 changes will drive the need to manage the VA business under a new set of lenses. During this session, the presenters will explore the various in-force management tools VA writers have available and comment on their effectiveness.

Description: The annuity market has been declining while the registered index-linked annuity (RILA) market has been expanding. Find outwhy the market is growing along with key features and considerations for the product from an actuarial perspective. By attending the session, you will: - Explain the increase in consumer demand and product opportunity. - Explain the key features and mechanics of a RILA. - Understand the pricing of RILA product. - Comprehend the key risks and ALM risks associated with RILA. - Explain high-level reserving mechanics of RILA under U.S. GAAP and U.S. statutory frameworks. - Understand the regulatory landscape impacting RILA products.