Description: A summary of a preliminary report from the Committee on Valuation and Related Problems, on guidelines for quantifying balance sheet items in an insurance enterprise.

Description: A presentation on the theory underlying Gross Premium Valuation reserves and techniques for computing them for purposes of compliance with asset adequacy testing of statutory reserves

Description: Article outlining the recent activity of the NAIC Life Actuarial Task Force LATF VM-20 Subgroup activities and the Academy’s Life Reserve Working Group dealing with feedback from the VM-20 impact study.

Description: An overall analysis and attribution analysis of the impacts of the 2017 Tax Cuts and Jobs Act for certain life insurance contracts.

Description: The author explores reasons why blocks of business may become legacy blocks and discusses ways to decrease the likelihood of legacy blocks in the future.

Description: More Efficient Monte Carlo Simulations for Mortality Assumption Testing

Description: Addresses U.K. actuarial discussion regarding “maturity guarantees”, i.e., the reserves necessary to support promises contained in investment-linked contracts.

Description: The purpose of this article is to discuss potential issues and considerations that may be encountered with the implementation of VM 20. Crucial considerations include the modeling software used, validation effort, assumptions used, complexity of the process, documentation, and run time. A key takeaway is that an integrated modeling platform with solid automation and asset-liability capabilities is imperative for addressing the issues and considerations encountered.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

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.