Description: Update on State Adoption of SVL, NY Reg 147, 179, LICONY's response, ACLI small co exemption proposal

Description: This paper proposes a more generalized Gerber-Shiu G-S function which contains both the G_S expected discounted penalty function and dividends paid up to ruin, as well as many others that have not been taken into consideration in the same systematic way, such as the insurer's accumulative utility, expected total discounted claim expenses, etc. The major result provides a unifying approach for all ruin-related quantities that fall in the category of the generalized GS function. From the Actuarial Research Clearing House, 2008, Vol. 1.

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: Principle-based reserving requires modeling assets and liabilities across a range of scenarios to assess the sufficiency of assets when determining reserves, a major shift from the current formulaic framework. These changes will require valuation actuaries to evolve their skill set by heightening their focus on creative analysis, gaining deeper understanding of complex projections and clearly communicating drivers of reserve movements to stakeholders in order to influence strategic decision-making. The panelists will discuss the way that they see the role of the valuation actuary changing in response to the change in focus in reserving requirements. They will also discuss successful characteristics along with best practices for understanding and explaining results in the new paradigm. The audience will be given the opportunity to interact through polling and facilitated discussion of their stories, experiences and observations.

Description: As the portion of inforce business valued under PBR grows, it becomes increasingly important to not only calculate reserves for point-in-time valuation but to also project reserves. This is especially critical for actuarial functions such as pricing, business strategy/forecasting, and asset adequacy testing. In this session, we will review PBR projection techniques based on work completed by the American Academy of Actuaries when developing the PBA Projection Practice Note. In addition, this session will examine specific challenges that can arise when actuaries use models to project reserves at future dates. Topics covered include mortality improvement, credibility, scenario generation, starting asset projections, and various other technical issues related to nested modeling requiring both inner and outer loop projections.

Description: The article describes the impact of AG 48 to a captive reinsurer for a SGUL product.

Description: XXX and Minimum Standards by Steven F. Grondin from The Financial Reporter, September 2001, Issue No. 47.

Description: This article reports the maximum statutory valuation and nonforfeiture interest rates for 1999 issues of selected life insurance products and the maximum statutory valuation interest rates for 1998 issues of selected annuity products.

Description: This is a summary of the NAIC meeting held in September of 2008.

Description: This article explains the work of the NAIC Life and Health Actuarial Task Force to draft a new standard valuation law from scratch. The author describes his version of the law based on his own opinions.