Description: Economic Scenario Generator - Investment Section Web Series Session #1 - Fundamentals & Hot Topics This session will cover the following points: 1. Introduction: ESG Basics, What is Risk Neutral and Real World? 2. Interest Rate Modeling 3. Equity and Private Equity Modeling 4. Example use cases facing investment professionals and actuaries today

Description: The National Association of Insurance Commissioners (NAIC) is in the middle of of a project to change the real-world economic scenario generator (RW ESG) prescribed for principle-based reserve and capital calculations. The presenters will provide a brief summary of the NAIC's RW ESG project and provide a general overview of RW ESGs. In addition to that, they will explain how RW ESGs impact principle-based reserve and capital levels and consider potential differences between the currently prescribed RW ESG and the proposed RW ESG.

Description: With long duration targeted improvements in the U.S., and IFRS 17 in other countries, the insurance industry is currently undergoing the adoption of two of the most significant accounting changes in recent history. While the scale of these specific events are infrequent, change is the norm in the world of insurance and life of an actuary. We live in a dynamic environment that will continue to bring challenges in how companies make decisions in order maximize their value and return on capital. Capital management requires an ability for insurance companies to take corporate actions and understand the impact this will have on both the current and future available capital. Being able to make optimal decisions when the goal posts are subject to frequent and material shifts in accounting regulation is a difficult process. It requires holistic consideration of all tools available to manage capital and how KPIs can shift in their measurement under new regimes. By attending the session, you will: Discuss the challenges that companies have in managing capital in an ever evolving environment, what steps they have taken in managing the current scope of accounting change, and how they can be prepared for adjustments in the future.

Description: Hot Topics in Setting Pension Return Assumptions is the third in a series, following Mathematics of Pension Return Assumption and Inflation, focusing on Effects, Forecasts, and Role in Pension Valuations. What time horizon is more appropriate for Capital Market Assumption (CMA) forecasts: mid-term or long-term time horizon, or a blend of both? How do we map the asset classes of a plan's own investment policy to the asset classes of investment forecasters' CMAs? If we use asset-smoothing for valuation assets, should we use market-driven expected returns or smoothed/average versions of them?

Description: The rapid and persistent rise in rates has increased many insurer's concerns around liquidity, disintermediation, and overall ALM risk management. Learn an overview of ALM, including the goals and reasons for performing it, common approaches, and real-world examples of common pit falls and mistakes that have been made in the industry. Explore the differences in approaches, and the pros and cons of these various approaches.Learn about the importance of understanding the ALM approach, with clearly defined strategic objectives. Additionally,discover an understanding of the value to both managing risk and optimizing enterprise value. Come away with a deep appreciation for the value that a well-constructed ALM program can bring to valuation/capital planning/asset adequacy testing/pricing (life and annuity).

Description: A panel of actuaries and investment experts share their experience with the AG53 requirements for Asset Adequacy Testing. Discuss challenging areas in the inaugural year of the consideration of complex assets as well as discuss potential areas of future regulatory expectations

Description: 2021 ImpACT Conference - Session 11E: Real World ESGs and the NAIC's ESG Project 10.28.21 Recording

Description: As a consequence of increased merger and acquisition activity in the insurance market in recent months, understanding the methodology behind goodwill calculations is becoming more relevant. Actuaries play an integral role in the calculation and validation of goodwill values. By understanding the principals and concepts in more detail, we can ensure that an optimal approach can be achieved both in terms of accuracy and value to the business. Gaininsight into the various components of goodwill, including an overview of the actuarial appraisal method that establishes how to calculate those components. Drill down to core intangibles, including VOBA, VODA and VOCRA. Explore the best practices for calculation of these components and obtain an understanding of the assumptions, methodology, and challenges that are being presented while deriving values of goodwill. Identify the key choices which can be made and how they impact the value both initially and over time. By attending the session, you will: - Describe the components of goodwill. - Calculate the components of goodwill. - Understand the challenges of calculating goodwill. - Understand what decisions are available within the methodology and their impact.

Description: In this Determining Appropriate Sensitivity Tests webcast, explore sensitivity testing effectiveness, the important difference between sensitivity and stress testing and more. Understanding sensitivity testing is critical to actuarial work, especially in order to properly assess and evaluate risk factors. Come explore approached to sensitivity tests and effective evaluations of sensitivity test results in order to elevate your knowledge within the actuarial science field.

Description: While a rising sea helps all ships, the insurance industry is a ship that hasn't seen much water in the past decade. Examine valuation and product management considerations in a high interest rate environment