Description: In session 132 PD of the New York Annual Meeting panelists discuss the content and status of the draft NAIC Actuarial Guideline ZZZ and the work of the AAA Task Force on Variable Products with Guaranteed Living Benefits. The Black-Scholes option pricing method is also covered. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: From session 75CS at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999, Presenters identify issues and challenges faced by the valuation actuary when performing cash-flow testing on equity-indexed and variable products.

Description: The American Academy of Actuaries will present on current initiatives that impact the U.S. statutory reserving methodology for non-variable annuity contracts. In particular, the development of a principle-based reserving framework on non-variable annuity contracts will be discussed, including framework elements, assumptions, and methodology. The session will provide an update on the status of regulatory discussions and the timeline for future changes to reserves. By the end of the session, attendees will understand what changes are being made to non-variable annuity reserves, details underlying existing proposals, and the anticipated timing of such emerging changes. This session is intended to the meet the needs of actuaries focused on annuity reserve calculations, financial reporting, and valuation.

Description: In session 70PD of the Montreal Spring Meeting panelists discuss tax, statutory, and GAAP accounting issues relating to equity-indexed annuities EIAs. From the Record of the Society of Actuaries, Vol. 23, No. 2.

Description: A pension actuary and a life actuary collaborate to express public pension liability and asset issues in terms and figures that an insurer would use

Description: In this article, a numerical comparison of two commonly used FIA valuation methodologies is conducted to help insurers decide on the best methodology to use under GAAP LDTI and VM-22. We compared two modeling approaches to project the future index credits with the annual point-to-point crediting formula: Tthe stochastic equity crediting model and the deterministic option budget crediting model. The analysis is then extended to different levels of option budgets and the monthly average crediting formula. The advantages and disadvantages of the two equity return projecting approaches are also highlighted and will be discussed later in the report.

Description: This discussion at a 1967 Regional Meeting is about methods of allocating investment income using the investment year method, the treatment of unrealized capital gains, considerations in choosing interest assumptions, and challenges presented when comparing investment yields among companies.

Description: Presented at May 1986 Spring Meeting. This session discussion is about types of products involved, accounting alternatives, federal income tax considerations, status of FASB proposal, requirements of SEC, and asset/liability matching requirements of regulators.

Description: VM-22 was first introduced into the Valuation Manual in 2018. A number of changes have been made since its introduction, with more expected on the way. This article compares valuation requirements for income annuities pre- and post-VM-22, discusses technical and implementation implications with regards to VM-22 (including comparison with New York Regulation 213), and considers future revisions.

Description: Join a discussion on the tax implications for direct writers ceding annuity blocks for both onshore and offshore reinsurance arrangements. Get an introduction to the tax consequences of the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are U.S.-based and not U.S. domiciled.