Description: Risk adjustment is needed under IFRS 17 to reflect the compensation that a company requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk. Companies are also required to disclose the method and confidence level used for the calculation of the RA. However, IFRS 17 doesn’t specify a method and a confidence level, nor does it provide a list of specific risks that are considered to be non-financial risk. Companies need to define them based on their own preferences or existing practices. This article will introduce available approaches and discuss the confidence level approach with potential consideration stemming from industry preferences and illustrative examples.

Description: The discount rate is one of the most critical topics in IFRS 17 and may have important repercussions on product profitability. The presenters will cover practical implementation considerations, including alternative approaches to illiquidity premium calculation for business supported by fixed assets with credit risks. Other implementation considerations will also be covered, including granularity of setting the discount rate, application to new business, and implications on asset and liability modeling. The presenters will then discuss how discount rates could be utilized in an Economic Scenario Generator (ESG) to assist IFRS17 calculations, particularly for risk-neutral valuation of the time value of options and guarantees.

Description: These are the Discussant Comments by Douglas W. Andrews for the Retirement Strategies 2B Session of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: This is the Retirement Strategy Metrics abstract authored by Mark Shemtob for Session 2B of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: This is the A Review of the Demography of Retirement in the United States abstract authored by Jacob S. Siegel for Session 2B of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: This is the Retirement Strategy Metrics paper authored by Mark Shemtob for Session 2B of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: This is the A Review of the Demography of Retirement in the United States paper authored by Jacob S. Siegel for Session 2B of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: Read the Quo Vadis Reinsurance.

Description: The presenters will explore the current state of the North American mortality baseline and long-term improvement assumptions and determine what we can learn from the UK's approach. They will share research done by the Society of Actuaries and other organizations to describe how to build a better model, plus show the impact socio-economics and other factors have on longevity expectations. The presenters will offer suggestions for how U.S. and Canadian pension plan and insurance actuaries--and the industry itself--can best use this research to develop a better model for the risk management of pension plans and group annuities

Description: This article provides an update, as of September 2019, on the Reinsurance Section’s sponsored research in process and studies recently completed.