Description: This panel discussed studies of the risk of loss due to changes in the interest rate environment. It addressed why the C-3 risk is important and how inflation and stability in interest rates can affect the financial soundness of life insurance companies. There was also a discussion of the theoretical work being carried out to calibrate the C-3 risk of variation in interest rates and to what extent the valuation actuary can properly recognize the risk of loss from changes in the interest rate environment within the framework of valuations laws and regulations.

Description: This dialogue discusses the history and purpose of section 811(a) and its historic role in the computation of life insurance company taxable income and, in particular, reserves.

Description: The September 2014 Issue of the Financial Reporting Section's newsletter, The Financial Reporter

Description: This article describes how there are many kinds of plans and arrangements under which qualified annuities are issued, and the rules governing them differ considerably.

Description: The Society's Task Force to Study Risk of Loss from Changes in the Interest Rate Environment C-3 Risk Task Force was formed in March 1981 with the charge to quantify C-3 risk. The Task Force made a preliminary report as part of a panel discussion on C-3 risk at the Society's October 1981 meeting in Atlanta. This presentation provides an update on the progress to date and its future plans.

Description: Update on accounting and capital/RBC issues subsequent to tax reform.

Description: This paper, chapter VI of the 1987 Valuation Actuary Handbook, discusses a framework for the valuation of reserves and surplus in statutory financial statements, first providing a detailed section of definitions to clarify to clarify the terms used in the paper. The “new” environment of volatile interest rates is discussed, and the mathematics underlying ruin probabilities, and combinations of risks. Procedures for different products with different types of risks are discussed. Other topics include coordination of investment policy and product policy, aggregate reserves and surplus needed, use of simplifications, financial planning, and reinsurance.

Description: Update on tax reform

Description: Quarterly update on regulatory trends of interest to financial reporting actuaries.

Description: A discussion of life insurance securitizations and how they can be structured to provide surplus relief associated with onerous reserve requirements.