Description: A multiway typology of measures of aging, longevity and superlongevity is presented, with measures classified as measures of aging and longevity, direct and indirect measures of aging and longevity, and measures based on population data, death statistics and life table functions.

Description: A multiway typology of measures of aging, longevity and superlongevity is presented, with measures classified as measures of aging and longevity, direct and indirect measures of aging and longevity, and measures based on population data, death statistics and life table functions.

Description: A pension plan uses Actuarial Equivalence to determine a 'fair' adjustment to pension benefits for form and timing of payment. The definition of Actuarial Equivalence is set in the Plan Document which may not have been reviewed for decades. With a wave of recent pension litigation in the U.S., plan sponsors, attorneys and actuaries now pay more attention to how pension plans define Actuarial Equivalence. How does a change in mortality table or interest rate affect the ultimate benefit? What are the requirements under ERISA and pertinent regulations? Are there court cases that have examined this question before? What are the issues behind the recent lawsuits and what can a plan sponsor do now to reduce their legal exposure? What alternative strategies are available for changing or not changing the definition in the plan document?

Description: The article discusses the role played by the "Blue Books" issued by the Congress's Joint Committee on Taxation and the authority accorded them by a recent U.S. Supreme Court decision.

Description: The presenters will discuss recent developments related to the federal qualification and taxation of life insurance and annuity contracts. Among other topics, there will be a focus on comparing and contrasting life insurance product qualification in the U.S. under IRC sections 7702 and 7702A versus qualification in Canada under the 'exempt test' of the Income Tax Act, which has been revised in recent years. Discussion will include comparisons of Canadian provisions to U.S. definition of life insurance and Modified Endowment Contract concepts.

Description: The Regulation and Taxation (Hong Kong version) e-Course gives you an overview of the regulatory environment of life and annuity insurance in Hong Kong, U.S. and Canada, with a special emphasis on how it impacts actuaries. You'll learn which government agencies regulate insurance and annuity products and why.

Description: The Regulation and Taxation e-course covers the regulatory environment of life and annuity insurance in the U.S. and Canada, with an emphasis on actuaries.

Description: In 2020, the Korean insurance regulator, Financial Services Commission (FSC), introduced a coinsurance structure allowing for full risk transfer—including investment risk, interest rate risk, insurance risk, and policyholder lapse risk—as a permitted practice. Expanding use of coinsurance in the Korean insurance market brings a suite of potential benefits to Korean insurance companies including increased financial flexibility, options to improve policyholder protection and shareholder value through optimization of business strategies. As such, FSC’s initiative and intention to introduce coinsurance opportunities to the market is commendable.

Description: Discussion of Forecast 2000, the actuarial profession's public relations program.

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.