Description: A summary of a preliminary report from the Committee on Valuation and Related Problems, on guidelines for quantifying balance sheet items in an insurance enterprise.

Description: An overview of how the VM-31 requirements for documenting PBR approaches and assumptions can/should reflect the Actuarial Standard of Practice on Modeling, ASOP No. 56

Description: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.

Description: The article discusses the continued popularity of indexed UL insurance and possible reasons why a company's actual indexed UL earnings may be below their original pricing expectations for the product. The article discusses several key items that may be the source of that underperformance (e.g., hedge ineffectiveness, policyholder behavior) and the need to monitor earnings and perform analyses to better understand those potential sources.

Description: This article helps companies better understand the currently proposed upcoming VM-22 regulation by comparing the VM-22 measurement model to LDTI MRBs. The article highlights key considerations as companies plan for adoption of these two measurement models. These considerations should help inform a company’s strategy related to the business impacted by these standards.

Description: This article discusses the need for more coordination and consistency in assumption setting between the pricing actuary, illustration actuary, appointed actuary, and financial reporting actuary.

Description: This article is an update, as of March 2019, on Financial Reporting Section sponsored projects in process and those recently completed.

Description: This article summarizes the key changes to VM-31 requirements in the 2020 version of the Valuation Manual for both life and variable annuities, and compares and contrasts the requirements for each. In addition, the article offers insights into common issues and recommendations for VM-31 reports from the viewpoints of a regulator, consultant, and company actuary.

Description: Article from The Actuary, January 1971 – volume 5 - Issue 1 is an actuary's view on accountants and adjusted earnings.

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