Description: Discussion of financial underwriting issues and methods for individual life insurance. Followed by discussion papers submitted by several authors

Description: This paper develops a tool that may be useful in explaining the differences between earnings that are reported under GAAP and profits that are expressed as an internal rate of return.

Description: Variable life insurance asset shares involve, in general, both the separate account and the general account. This paper develops, for both accounts, under the New York Life design, the annual asset share equations of equilibrium for the separate account asset share, for the general account asset share, for the basic reserve, and for the surplus and also derives the individual expressions for the interest and mortality contributions to the surplus. Followed by discussion papers submitted by several authors.

Description: Section 818c of the Life Insurance Company Income Tax Act of 1959 provides, for companies holding other than net level premium reserves, a choice of two methods: exact revaluation or approximate revaluation to this basis. This paper discusses the impact of the choice on the level of a company's tax reserves. A discussion paper follows.

Description: This report presents the results of a survey of the actions companies took on their term products in response to the introduction of the NAIC Valuation of Life Insurance Policies Model Regulation, ‘Regulation XXX,’ and Actuarial Standard of Practice No. 40. The survey also explores the development of companies' X factors, the associated annual X factor certification process and how Regulation XXX impacts the companies' level term pricing. The survey was conducted by the Regulation XXX Survey Subcommittee of the Society of Actuaries Life Insurance Mortality and Underwriting Survey Committee. Common survey responses to Regulation XXX included consideration of reinsurance, changes in product design, the most common changes reported being the length of the guarantee period and the level of the gross premiums, and changing rates on existing products.

Description: A research paper that outlines a seamless method of deriving assumptions for modern reserving and solvency capital requirements from a company’s own data.

Description: A report to explain the new Valuation Basic Tables (VBT), Relative Risk tables (RR), and Commissioners Standard Ordinary Mortality Tables (CSO)

Description: The purpose of this research project was to survey professionals in the viatical and life settlement a.k.a. secondary insurance industry to discover how actuaries could best serve this particular business.