Description: This article discusses the survey of published embeddd value EV financial assumptions through 2010 sponsored by the Society of Actuaries International Experience Study Working Group. The purpose of this survey is to provide international actuaries with benchmark assumption data.

Description: As the size of the life reinsurance market in Bermuda has grown to over half a trillion dollars at the end of 2021, more and more actuaries are getting involved with this 21 square mile North Atlantic island in one way or the other. Come explore a fundamental understanding of the Bermuda solvency framework and an overview of its upcoming changes.

Description: This article outlines how Bermuda advanced in global tax compliance through the enactment of the Bermuda Corporate Income Tax (CIT) Act of 2023, which will take effect for tax years beginning on or after January 1, 2025. The Bermuda CIT rules incorporate key foundational definitions from the Organization for Economic Cooperation and Development’s (OECD) Pillar Two GloBE model rules, while also exhibiting significant differences from Pillar Two. The article discusses the various elections available for taxpayers, key mechanics of the CIT, and the latest administrative guidance released by the Government of Bermuda.

Description: In this session, presenters will share the impacts of transition to IFRS 17 on equity and various KPIs across insurance companies (Life & P&C), as well as share some observations of what the IFRS 17 landscape looks like across different global regions. The session will conclude with lessons learned and expectations for emerging practices under IFRS 17 globally.

Description: Attend this webcast to learn more on how to navigate managing ESG principles in the new normal of a post-COVID world. Enhance your ESG insights in a post-pandemic landscape.

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: Learn about the innovations of life & health products and distribution in the Asia market.

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: "Risk Management starts with identifying, quantifying, and then monitoring the key risks a company is exposed to. From a life company perspective the key risks are investment returns, expenses, and mortality. IFRS17 allows quantifying and measuring those key risks by building expectations, as in the initial recognition, and monitoring the actual outcomes achieved, as in subsequent measurement. Risk can be measured, monitored, and corrective action taken by allowing the experience to emerge and be compared to our initial estimates. Comparing initial vs. subsequent figures allows the company to identify whether it had a profitable quarter or not. For a profitable quarter, it makes sense to release profit from the CSM and RA accounts. For a non-profitable quarter, it makes sense to build up funds in the RA account from CSM funds so that no profit is released. In this case, the release from the CSM exactly matches the buildup of RA_release, as no funds are released to shareholders. Two examples of subsequent measurement scenarios will be given along with their initial Recognition figures: one exceeding IR figures and the other losing to IR figures. We will see how to manage risk by controlling the release of shareholder funds. Comparing actual vs. expected figures allows us to do this. We will also see how this affects the Embedded Value and Value of In-force business. Key Learning Outcomes: 1. Given the Initial recognition figures, compute profitability and required releases of the risk adjustment RA and CSM accounts. 2. Calculate subsequent measurement figures for SR_RA, SR_CSM, and Value of in-force business."

Description: This article discusses international proposals for accounting reform that would establish a global common measurement approach for the large majority of life insurance and annuity products.