Description: This article highlights some key points for IFRS 17 Variable fee approach (VFA) and provides an illustrative example on the measurement model logic.

Description: The first objective is to highlight the key trends and projections that describe the magnitude and scope of the aging world in the 21st century. The second is to identify some of the key issues that countries in the developed and developing world will have to face as a consequence of population aging. The third objective is to emphasize the triumph and opportunities of an aging world, providing a counterpoint to the prevailing notion that the aging of societies is a catastrophe, leading only to undue burden on future generations.

Description: Overview of the 21st Annual Caribbean Actuarial Association (CAA) Conference and the CAA's involvement in regional policy, practice and academics.

Description: The article discusses practical PGAAP issues under China GAAP, e.g. product classification, unbundling, acquisition expense allocation, VOBA grouping.

Description: The Society of Actuaries recently entered into an agreement with the China Association of Actuaries to promote collaboration between the two organizations.

Description: In a world where pensions for new hires are predominantly provided with defined contribution plans, defined benefit plans have moved in many cases from being a strategic human resource management tool to being a source of volatile historic liabilities and costs that need to be managed downward. While the approaches for dealing with these liabilities broadly consist of risk transfer, settlement or funding, the precise options available will vary by country depending on the local pension framework and legal requirements. Any company with material global pension liabilities would be well advised to monitor these closely, in order to be able to take advantage of opportunities to de-risk, and to ensure that a global pension de-risking budget is allocated to the activities which are expected to yield the best returns for the group.

Description: An account of the first South Asian Actuarial Conference organized by the Actuarial Association of Sri Lanka.

Description: The international presence of SOA-designated actuaries is on the increase, and the International Section will be aligning many of its activities to complement those of the SOA’s International Committee while continuing current successful activities and initiatives.

Description: An overview of reinsurance training class provided to the Bermuda Monetary Authority (Authority) and Central Bank of Trinidad and Tobago (Central Bank) covering all aspects of reinsurance. Article also provides an overview of initiatives that the two regulators (Authority and Central Bank) are involved with.

Description: An update on the China insurance industry and the issues surrounding the admission of foreign insurance companies