Description: Update on IFRS 17 including news, how IFRS 17 is impacting companies financials, comparisons to LDTI, and KPIs.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: This research report is the result of a second phase examination of the impact of VM-20 on life insurance product development.

Description: Read the Quo Vadis Reinsurance.

Description: On June 17, 2019, the Internal Revenue Service published Final Regulations implementing changes to loss reserve discounting under section 846 of the Internal Revenue Code made by the Tax Cuts and Jobs Act. This note addresses changes made in the Final Regulations, particularly modification of rules for determining the interest rate used for discounting, in response to comments from taxpayers on the proposed regulations.

Description: This article provides a summary of selected sessions of the October 2010 NAIC meeting.

Description: Life insurance and annuity illustrations are an important part of the sales and ongoing policy maintenance process educating consumers on how the products could perform in a given set of circumstances. While candidates for Fellowship in the Society of Actuaries and even practicing actuaries may have a general knowledge of what they are and awareness of the regulations and applicable standards of actuarial practice, they may not know much about the intricacies of illustrations and illustration testing. The purpose of this project is to create a resource to improve actuarial practitioners’ understanding of illustrations. Additionally, this topic is not currently addressed in the exam curriculum. It is intended that selected sections of the report on this research would be suitable for inclusion in the Fellowship syllabus.

Description: Excel file to be attached to cover sheet on this same 2005-2007 individual life persistency study. Contains the actual persistency experience data from the study.

Description: Future mortality improvement has been a common assumption in life insurance and annuity pricing and forecasting for many years. However, experience over the last decade suggests this might be an assumption that merits reconsideration in the United States. This article will take a closer look at factors that impact mortality improvement trends and discuss why insurers may want to reevaluate product designs to better manage the associated mortality risk. We then introduce a product idea with this in mind, where premiums are based on a life expectancy index and insurers share the risk (and opportunity) or mortality improvement with policyholders.

Description: This discussion presents the intercompany experience under Standard Ordinary life policies data in groupings and formats not shown in the regular report. The first table shows 1981 - 1986 mortality ratios for grouped ages, split by type of underwriting. The 2nd table shows smoker and non-smoker mortality for 1985 - 1986 by type of underwriting and age groups. The 3rd table shows smoker polices in 1985 as a percent of policies issued by type of underwriting and age groups.