Description: Discusses the problem with the computation of tax reserves for VA contracts with Guaranteed Living Benefit riders that were issued prior to December 31, 2009.

Description: An overview of the evolution of equity-based guarantees (e.g. VA, FIA, etc.) over the last few years and discussion the current lay of the land as it relates to the regulatory, issues, capital markets environment in which these products are offered.

Description: Variable Annuity DAC: A Survey of Current Practice by Laura J. Hay and Elizabeth Rogalin from The Financial Reporter, December 2002, Issue No. 51. Examines the DAC calculation for Variable Annuities and the possible write down of DAC under revised assumptions.

Description: This is a report on the PBITT Working Group's fourth survey to gather the assumptions actuaries use in pricing, reserving, and risk management of minimum guarantees on Variable Annuity products, such as death benefits, income benefits, withdrawal benefits and maturity benefits.

Description: Regulatory change and increased focus on internal risk management are driving a renewed interest in model efficiency. In this session, we will review several new and existing tools, that show significant promise for advanced modeling of equity linked products. These include: • Clustering • Use of unique--and potentially a different number of--scenarios for each policy • Semi Monte Carlo (SMC) – this is a proprietary technique that is similar to a combination of Monte Carlo and numeric integration • Using a neural network approach to optimize some of the more complex and manual aspects of clustering and improve the fit of the clustered model • Combining SMC with the use of unique scenarios per policy

Description: Discusses a one day seminar in Shanghai, China held on August 25, 2011 by the SOA and the China Regional Committee on variable annuities.

Description: Important tools used in property & casualty P&C insurance—predictive modeling and data mining—can be applied to more effectively model policyholder behavior risks in variable annuity VA contracts. In this article, a case study is used to demonstrate how a predictive modeling approach can improve upon traditional methods used to model VA lapse behavior.

Description: This article discusses a new procedure for correcting inadvertent failures to satisfy the diversification requirements applicable to variable annuity and life insurance contracts under section 817h of the Internal Revenue Code.

Description: Discusses PLR 201105012, the investor control doctrine, and how the IRS concluded that shares of a Lifecycle Fund, available only through a life insurance company's separate account, still can be considered owned by the insurer and not the policyowner for federal income tax purposes even if it at least partly invests in shares of public funds.

Description: The article summarizes several recent private letter rulings from the IRS addressing the "investor control" doctrine in the context of funds of funds.