Description: The SOA and Milliman announce the completion of the first certificate program focused on measuring and managing climate risk for actuaries. The Climate Change Risk Certificate Program pairs the risk management acumen of actuaries with the interdisciplinary expertise necessary to manage the complexity of climate risk.

Description: Interest Maintenance Reserve ("IMR") has become a hot topic recently due to rising interest rates, causing decreases or even negative IMR balances for some insurers. This article aims to exam some new questions facing financial reporting actuaries: - How should negative IMR be treated for statutory reporting? - What are the other actuarial implications of negative IMR? - What have regulators done and/or plan to do about negative IMR? - What are potential mitigants?

Description: Discount rate curve construction has been a topic of renewed interest following recent changes in financial reporting standards. Interpolation is a key component of curve construction and can be conducted via an assortment of methods. This article explores six popular interpolation techniques and assesses how they perform with regards to desirable features of such methods: continuity of forwards, stability and locality, simplicity, and market consistency.

Description: Milliman was engaged by the SOA to conduct two Accelerated Underwriting (AU) surveys, one of direct companies and another of reinsurers. The surveys explored actual results from 2019–2021 and expected results from 2022.

Description: This Q&A article discusses the use of machine learning to analyze unstructured data. Supriya Ramachandra, a data scientist at SIKKA, explains how her team uses natural language processing techniques, technical aspects of neural networks, LSTM modeling, and natural language processing. Machine learning allows for the classification of large amounts of unorganized data, providing actionable information for actuaries.

Description: Come gain insights into the techniques used in Machine Learning and its applications. You'll discover the key technological advances in recent years which were behind and ultimately facilitated the breakthroughs including ChatGPT/GenAI. It's time to uncover real-world use cases where AI models and their transformative impact on our lives.

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: Following recent market volatility and regulatory changes, market data and market-consistent economic scenarios are at the core of the valuation of liabilities and market risk benefits under regimes such as IFRS 17 and Long Duration Targeted Improvements. This webcast will explore options available to insurance companies to establish stable long-term volatility assumptions and discuss how the choice of financial data can impact the calibration and the simulation of credit spread scenarios.

Description: Article discussing how geospatial imagery and high-resolution image technology are transforming property insurance.

Description: This is an extension of the 8th edition of the SOA Living to 100 Symposium in the U.S. It brings new perspectives with the combination of long-term care, mortality, ElderTech, pandemic longevity and climate change response to the needs of the elderly population.