Description: From an interactive forum session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Discussion of the major financial reporting issues and concerns of senior actuaries in life insurance companies. Discussion focused cash flow testing methods and interpretation of results.

Description: Findings from EY Insurance Risk Management Team's 2016 (annual) Insurance Chief Risk Officer Survey.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 A discussion of liquidity management for life insurance companies marketing institutional clients, in particular with respect to GIC contracts and Funding agreements. Topics included: · What happened at General American with their defaults on funding agreements. Why did the regulators and rating agencies miss the problems? · What was the impact of reinsurance? · What is the effect of adding institutional business such as putable funding agreements on liquidity management? · Are there prudent levels of this business that can be beneficial? · What is the effect of funding agreements with downgrade provisions on liquidity risks, and do such provisions create a preference for sophisticated institutional contract holders?

Description: This panel discussion session looked at recent and proposed regulation of life insurance underwriting. Specific topics included: i. Problems with traditional underwriting classifications: privacy, disclosure, anti-discrimination, etc. 2. New and acceptable classifications: smoking, lifestyle, build, blood pressure, finances, etc. 3. Possible transition problems: existing policies, persistency, coordination of previous data with newer classes, etc.

Description: Increased attention was paid to regulatory capital with the global financial crisis in 2008. Whilst companies may not have the incentives to retain a large amount of capital in the absence of regulatory capital requirements, overcapitalized entities can have drawback such as its impact on competitiveness. There are other weaknesses in the regulatory capital model such as its limitation in facilitating risk-based decisions as regulatory capital does not necessarily reflect the economic reality and risks an entity faces. Nonetheless, there are ways for regulators and/or companies to handle the weaknesses in the regulatory capital model. For instance, granularity can be introduced in determining regulatory capital. Economic capital can be used to encourage entities to implement risk management controls and facilitate risk-based business decisions (e.g., risk-adjusted performance assessment and risk-based capital allocation). Ultimately, hav ing effective risk management and risk-based capital determination are ways to prevent company failures and bankruptcies.

Description: 1987 Valuation Actuary Handbook: Chapter 1: Addresses life insurance company statutory reserve valuation.

Description: The Life Risk Based Capital Working Group of the NAIC asked for a recommended capital standard from the American Academy of Actuaries for variable annuity contracts with guarantees. In response, the Life Capital Adequacy Subcommittee’s C-3 Work Group the Work Group, chaired by Bob Brown, formulated an approach, which has been dubbed RBC C-3 Phase II.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of guaranteed minimum death benefits, guaranteed minimum income benefits, and guaranteed minimum accumulation benefits on variable deferred annuities, along with floor guarantees on variable immediate annuities. This session described the types of benefits found in the marketplace along with the associated risks. Current reserving practices, risk management techniques, and the latest American Academy of Actuaries AAA and National Association of Insurance Commissioners NAIC developments are discussed.

Description: From a panel discussion session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Overview of New York Regulation 163, including the limits on different types of derivative activities, the Derivative Use Plan required by New York, and the reporting and control requirements.

Description: From a session at the annual meeting of the Society of Actuaries held in Chicago, Illinois, October 15-18, 2000 Discussion of indexed guaranteed separate accounts, typically issued to defined-benefit pension plans. Contract terms, risks, marketing, financial reporting, reserves, and investment strategies are discussed. Risk-based capital and the National Association of Insurance Commissioners Model Regulation for Separate Accounts with Guarantees are also discussed. A hypothetical indexed separate account is analyzed for return on capital and economic risk.