Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date and recent discussions and decisions on the treatment of non-guaranteed reinsurance.

Description: A recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes.

Description: This article Provides a description of an IRS Directive that provides a safe harbor tax reporting position for computing tax reserves for pre-2018 tax years for annuity contracts subject to AG43 and VM-21 and life insurance contracts subject to VM-20 Principal Based Reserves methods. The safe harbor is required to be implemented on the 2017 tax return, with certain spread amounts in some cases to future tax years starting in 2018.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date, model robustness and common simplifications.

Description: A recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes.

Description: Oliver Wyman surveyed the life insurance industry in 2Q 2018 on emerging life PBR practices. Key takeaways and a deeper dive on select practices are provided.

Description: With the halfway point of the transition period in the rear view mirror, many companies are well underway with their VM-20 implementation and analysis efforts. Beyond attempting to master the new rules of the road, actuaries have discovered new effects of product design and assumption setting. Panelists in this session will discuss their experiences with VM-20 reserves for various products and designs, their applications of actuarial judgement and the areas where even they don’t have all the answers. The audience is encouraged to bring their questions and also to share their insights.

Description: Inaugural article in a series to share resources with other actuaries at smaller companies. This article will introduce the reader to the Academy's Life and Health Valuation Law Manual, an annual publication containing numerous references, notes and guidelines to help valuation actuaries complete their statutory regulatory work.

Description: There are so many things going on in the life market that challenge and engage all parties of the insurance transaction. The presenters will cover a variety of aspects of the life market including accelerated underwriting, principle based reserves, and regulatory and product changes occurring in the life insurance market. At the conclusion of the session, attendees will be able to: - Describe how the life insurance market is being impacted by changes internal and external to companies - Describe how companies are navigating changing underwriting landscape - Explain how regulations may impact companies going forward

Description: July 2019 issue of Small Talk by the Smaller Insurance Company Section. Practical information for actuaries, trends that impact section, and section activities.