Description: The National Association of Insurance Commissioners (NAIC) has developed the Group Capital Calculation (GCC) for U.S.-based insurance groups since late 2015. GCC is designed to provide a coherent analytical framework to show a panoramic, transparent view of the interconnectedness, business activities and underlying capital support for an insurance group. The last field testing was completed in May 2019. The final proposal was adopted in late 2020. The Federal Reserve Board (FSB) also recently updated the group capital standard to an aggregation method, which is similar to the NAIC GCC. The Insurance Capital Standard (ICS) is under the development by International Association of Insurance Supervisors (IAIS) for Internationally Active Insurance Groups (IAIGs). It has entered the five-monitoring period from January 2020 to monitor the performance of the ICS V2.0 and the IAIS will perform a comparability assessment of the ICS V2.0 with the Aggregation Method (e.g. NAIC GCC) during this period.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: Reinsurance can be used as a tool to improve profitability and competitiveness on in force and new business for companies. Emerging reinsurance solutions will help organizations better manage their capital in different ways. During this webcast, the following solutions will be covered: Use of reinsurance to manage and improve capital and profitability Turning spread-based business into fee-based business Strategic use of affiliate and sidecar reinsurance

Description: Learn how modernization of data, models, and technology are influencing workflows. This webcast will address how workflows are changing in response to new regulatory requirements and the impacts the changes have on modeling and end-to-end future state operating models. Industry leading actuaries will discuss: How team collaboration can increase quality and speed of reporting to internal and external stakeholders How to strengthen controls and compliance frameworks across finance and actuarial departments How to modernize actuarial input/output for strategic analysis and insights How to attract and retain top talent by improving opportunities for actuaries There will also be dedicated time to ask questions of those who have made the transition.

Description: The introduction and effective application of US GAAP LDTI have increased the scrutiny of those reviewing the updated financial results. That is because LDTI has resulted in significant changes in actuarial reserving and deferred acquisition cost (DAC) models for long-duration contracts, including significant changes to data, assumptions and required disclosures. In light of the changes, greater reliance has been put on companies’ model risk management (MRM) teams and model validations to assess the conceptual soundness and accuracy of their companies’ actuarial models and to assess that the underlying data and process utilized are suitable and appropriate. This article covers a brief background on model validation, walk through a sample LDTI-focused model validation framework/test plan, then provide insights on common LDTI-related validation observations based on the authors' prior validation experience.

Description: The IFRS 17 implementation deadline is near and companies have decisions to make. While many decisions pertain to specific IFRS 17 requirements, others are more strategic in nature. This session will explore key considerations and decisions faced by stakeholders as they finalize their implementation work and determine ongoing best practices in light of this new standard.

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: This report focuses on the risks of change in the insurance industry and adapting to the "New" New Normal. It includes survey results, analysis, and discussions on various risks affecting the industry in the current environment.

Description: Join us for the Pandemics & Paradigm Shifts: ERM in an Intensely Dynamic World panel discussion, where industry and regulatory perspectives will help provide insight into a number of topics. Expect interactive dialogue opportunities based on the conversation between the panelists and the audience. Key topics that will be conversed about, but the panel is not limited to, include a brief review of historical paradigm shifts and subsequent insurer failures, best practices and an outlook on the ultra-dynamic world of today and consideration of a company's enterprise risk management framework as it affects ratings and insurance department examinations.

Description: Recent regulatory developments and ASOP 56 have reinforced the need for robust governance over actuarial models, but there is no one-size-fits-all solution. Design and implementation of an efficient and sustainable model governance framework requires customizing various aspects (e.g., risk rating system, ownership and responsibilities, usage of testing and documentation templates) to fit each company's unique culture and organizational structure.