Description: From the 1985 Valuation Actuary Symposium. A discussion of the principles that should be part of a life insurance valuation. Also discussion of emerging actuarial professional standards of practice and regulatory requirements with respect to methodology for assessing reserve adequacy.

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: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

Description: The article describes changes to the computation of tax reserves as a result of the Tax Cuts and Jobs Act.

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: In physics and engineering education, Fermi problems require solutions based on good approximate calculations with little or no actual data, involving making justified guesses and deducing bounds without using sophisticated tools. The idea of Fermi problems are of particular relevance to today's actuaries, as pricing, reserving, and financial reporting involve more and more complex stochastic components. The paper discusses some approximate solutions developed in academia in the spirit of Fermi problems.

Description: Metadata for entire issue

Description: Actuary/accountant/tax attorney dialogue on recent guidance issued regarding treatment of deficiency reserves with respect to the “statutory reserves cap” of Internal Revenue Code section 807(d)(1).

Description: Reports on the Florida winter meeting of the NAIC’s Life and Health Actuarial Task Force, LHATF, regarding an agreement that was reached on an approach to be taken to reconstitute the Standard Valuation Law, SVL, applicable to life insurers.

Description: discussion of March 2009 NAIC/LHATF meeting