Description: discussion of the ongoing developments in reserving and risk-based capital RBC requirements for variable annuities including stochastic scenario projections

Description: Discusses how AG 34 provides a clarification of CARVM for variable annuities with MGDB’s.

Description: Update on statutory Valuation reserves and required surplus for variable annuities with living benefit guarantees

Description: Panelists provide background and updates on a number of statutory issues relating to life and annuity products, including statutory codification implementation, Actuarial Guideline MMMM, Actuarial Guideline AXXX and implications of the movement to the 2001 CSO table. Changes to federal reporting requirements, through the Sarbanes-Oxley Act, are briefly discussed relative to the recent accounting problems in the news. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 78OF of the Boston Annual Meeting.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of guaranteed minimum death benefits, guaranteed minimum income benefits, and guaranteed minimum accumulation benefits on variable deferred annuities, along with floor guarantees on variable immediate annuities. This session described the types of benefits found in the marketplace along with the associated risks. Current reserving practices, risk management techniques, and the latest American Academy of Actuaries AAA and National Association of Insurance Commissioners NAIC developments are discussed.

Description: After nearly a decade of work by ACLI and representatives of its member companies, the Society of Actuaries SOA, the American Academy of Actuaries Academy, and the NAIC’s Life and Health Actuarial Task Force LHATF, on Sept. 24, 2008, the NAIC adopted a new actuarial guideline for applying the method of computing statutory reserves for variable annuity contracts AG VACARVM.

Description: The NAIC has adopted revisions on Actuarial Guidelines 43 and C3 Phase II for Variable Annuities ("NAIC VA Reform"), effective January 1, 2020. The panel of presenters will provide background and overview of the Reform, and discuss detailed aspects of the new CTE Amount, Standard Projection and Withdrawal Delay Cohort Method. The panelists will share implementation considerations and the Reform's implications to hedging.

Description: This presentation is from session number 25, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists discuss Actuarial Guideline XXXIV, which was effective year-end 1998 and addresses reserving for minimum guaranteed death benefits associated with variable annuities, including the requirements of Actuarial Guideline XXXIII. Companies are now offering other guaranteed benefits such as guaranteed living benefits, and the National Association of Insurance Commissioners [NAIC] and the American Academy of Actuaries are working to address reserving for these benefits. The panelists describe the minimum guaranteed benefits in the marketplace and the risks associated with them. Current reserving practices and the latest NAIC and Academy developments are discussed. Discussion from participants is included.

Description: Changes to AG 43 and what that might mean for tax purposes. Also, summary of IRS Notice 2016-63 (provides safe harbor tax guidance on use of 2017 CSO tables).

Description: A discussion of the effective dates and statutory reserves cap for variable annuities under Actuarial Guideline 43.