Description: Explore real-life experiences implementing LDTI for traditional life and annuity products. Learn about strategies that worked well and pitfalls to avoid in the future. Topics include data and assumption management, building disclosures for attribution analyses and roll-forwards, discount rates, implementing new DAC calculations, reinsurance accounting methods, and risk-neutral ESGs and processes to calculate Market Risk Benefits.

Description: Next up for Principle-Based Reserves (PBR) is VM-22, PBR for non-variable annuities. With Field Testing underway, companies are beginning to understand the impacts on financial statements, as well as actuarial models, processes, and people. This session will focus on the implications VM-22 will have on companies, including initial lessons learned from the early phases of field testing, actuarial modeling considerations, implementation considerations, and strategic implications - including hedging and reinsurance. At the conclusion of this session attendees will be able to: 1. Explain VM-22 2. Understand initial lessons learned from field testing 3. Identify changes required to actuarial models as a result of VM-22 4. Understand the initial strategic implications of VM-22

Description: Value of new business (VNB) is being used by many companies for various purposes including: internal and external financial reporting, incentive compensation, pricing, capital management, and comparing products, distribution channels or regions on a consistent basis. Presenters will discuss how and why value of new business is used within their companies including: the various methodologies considered, some of the benefits and challenges related to implementing VNB, integrating VNB within their business as usual processes, and managing to VNB.

Description: Appointed actuaries are facing a number of changes in the regulatory landscape. Some of these occurred in the past few years, such as Actuarial Guideline (AG) 51 (Asset Adequacy Testing for Long-term Care Insurance). Some were very recently put in effect and are evolving, such as AG53 (Modeling and Documentation of Complex Assets). Some are quickly approaching, such as the potential changes to asset adequacy testing requirements for reinsurance ceded by life insurers.

Description: This session will cover the treatment of various forms of reinsurance under Valuation Manual-20 (VM-20). Speakers will discuss the implications of various types of reinsurance agreements on the calculation of principle-based reserves (PBR). This will include coinsurance and modified coinsurance, guaranteed and non-guaranteed yearly renewable term (YRT), as well as financial reinsurance.

Description: Generally accepted accounting practices (GAAP) reporting frameworks are more involved than ever before. From disclosures to assumption changes, to interest rate movements, uncovering the drivers of income emergence can prove hard to do, and even trickier to communicate. This session will revisit how the updated standards create layers of complexity and offer ways to sidestep these obstacles to generate useful earnings analysis by various drivers.

Description: Indexed universal life (IUL) continues to be the most popular universal life (UL) product with sales reaching $1B in Q4 2023, according to LIMRA. There is little long-term experience for IUL and many companies value and model IUL just like UL, but there are material potential differences that need to be considered for valuation and projection purposes.

Description: Even though the 2018 Tax Cut and Job Act significantly simplified the tax valuation methodology, taxation can impact the valuation outcomes and financial decisions. This presentation will start with an overview of the key taxation topics relating to valuation work, and then dive into more complex topics, such as the deferred tax asset/liability handling and reinsurance implications.

Description: This will be an engaging and interactive session that will begin with a game show to level set basic knowledge of LDTI. Next, you will have an opportunity to ask the experts in-depth questions about anything related to LDTI. Finally, we will invite the 2023 adopters to share their experiences with the 2025 adopters. The exact content will be driven by participants but is expected to include MRB valuation approaches, LFPB reinsurance topics, DPL, DAC, and disclosure topics. At the end of the session, participants will understand different perspectives from industry experts and peers on the many facets of LDTI.

Description: This session will provide an overview of the landscape of accident and health insurance valuation. Attendees will gain an understanding of key concepts and various actuarial techniques employed in the valuation of accident and health insurance policies. By incorporating real-world perspectives and experiences, this presentation equips attendees with actionable knowledge to enhance their understanding and approach to accident and health valuation in an ever-evolving insurance landscape.