Description: This article is an abstract of the Deloitte whitepaper “Financial KPIs in the New World” that will be published in January 2023. It provides a market view of how the new Financial KPIs will be integrated in the insurers’ decision-making process and about the main challenges and opportunities for insurers’ management and external stakeholders in the jurisdictions that have adopted IFRS17 and in particular countries in the EMEA region.

Description: S&P reissued a second Request for Comment (RFC) in May 2023 that proposed changes to their insurer capital adequacy methodology and assumptions, and suggested these proposed changes may become effective at the end of 2023. This paper is to highlight the notable changes between the current capital model criteria and the proposed model. We also discuss major changes from the first RFC and the second RFC, as well as several key items that still require enhanced guidance and clarification. Our analysis is based on information gathered from S&P's public comments, conversations with industry participants, and publications released by S&P Global as of July 2023 when this paper was written. Most U.S. life insurers are rated by S&P using their U.S. Life Statutory Capital model, while other insurers use the GAAP/IFRS Capital Model. Statutory financials will remain the starting point for U.S. life insurers under the proposed model, however there will be additional adjustments made to these numbers in an effort to create consistency and comparability with other accounting and solvency regimes.

Description: Chairperson’s Corner

Description: This article is an overview of the SOA Leadership & Development Section Council's current projects, recent accomplishments and some immediate focal points of the Leadership & Development Section Council's efforts.

Description: The SECURE Act of 2019 requires an annual disclosure to participants in defined contribution plans. The intention is to help participants understand the relationship between their account balances and the estimated retirement income—that might be provided from those balances. But the disclosure requirements lack the features needed to provide meaningful information to many participants, which can be misleading if not well understood. Consequently, this provides an opportunity for actuaries to work with retirement plan sponsors to improve the disclosures.

Description: Self-management is your ability to use awareness of your emotions to stay flexible and direct your behavior positively. When you understand what you are feeling, you can effectively choose how to react. Knowing your individual tendencies can help you prepare for future events by consciously deciding to change or adjust your behavior when certain situations occur. The article shares strategies, examples and personal insights to illustrate how to develop the skill of self-management.

Description: Interview with the current Chair of the Retirement Section Council, describing the work of the Council and other topics.

Description: A summary about the first book club discussion on Never Split the Difference. Insights on key negotiation elements are discussed in the article.

Description: This article studies the syllabus as a dynamic, interactive teaching tool that informs and is informed by both solutions of complex course problems and student difficulties with these problems.

Description: This is the third in a four-part series dedicated to strategies for improving EQ, based on the book Emotional Intelligence 2.0 written by Travis Bradberry and Jean Greaves. In previous issues of The Stepping Stone, I discussed the skills of self-awareness and self-management. In this article, I will share a few more of the book’s strategies and provide examples and personal insights to illustrate how to develop the third skill of social awareness in personal, social, and business situations.