Description: This article provides an update on principles-based reserves for life insurance.

Description: A description of the controversy surrounding Actuarial Guideline 38 (AG38) and the joint working group that was formed to address the controversies.

Description: Illustrates the effects of different approaches to updating GAAP valuation assumptions for traditional life contracts.

Description: Author discusses the treatment of current life insurance reserves under the tax code in determining a life insurer's taxable income, and what challenges are ahead in the era of principles-based reserves.

Description: Summarizes results of PBR survey of regulators by the Valuation Law and Manual Team, VLMT, of the Life Reserves Working Group, LRWG. Did not say what regulators were surveyed.

Description: Development of relevant industry mortality experience for different market segments. Details about the 2017 CSGI Mortality Table for guaranteed issue products.

Description: Setting the X Factor Percentile— Commentary by G. Thomas Mitchell from The Financial Reporter, October 1999, Issue No. 40.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: Current status and initiatives related to PBR regulation

Description: Recently, the IRS eliminated one of the more amorphous tax rules that at times was a stumbling block in Triple-X securitization transactions. Unfortunately, however, the IRS left an equally amorphous consolidated return rule untouched.