Description: This session will provide an overview of key considerations and takeaways from the economic scenario generator (GOES) and fixed/indexed annuity reserving (VM-22) field tests. Stylized facts from the new proposed scenario generator will be discussed and a comparison with the existing Academy's scenario generator will be presented. The Main guidelines from VM-22 will be contrasted and compared with CARVM and VM-21, and preliminary model results will be analyzed to understand impacts on pricing, reserving, income volatility, and reinsurance.

Description: With long-duration targeted improvements (LDTI) and interational finanial reporting standards (IFRS) 17, the insurance industry just underwent the adoption of two of the most significant accounting changes in recent history. While many companies have now successfully completed their implementation projects and have passed their first external audit reviews, they have had to do so under tight deadlines with limited resources.

Description: As long-term care enters into its fifth decade, the product continues to evolve. Current trends as well as innovative product designs pose many challenges as carriers seeks to model long-term care.

Description: This webcast will oversee a discussion on the impact of LDTI (transitions and earnings), in addition to day two items and other considerations. Examples include pricing, reinsurance and non-GAAP adjustments.

Description: IFRS 17 will be effective as of 1 Jan 2023 and provide opportunities as well as challenges to both Direct Writers and Reinsurers across the insurance industry. If the new framework is not fully understood, an implementation can elevate the risk of problems in financial reporting, product development, investment management and more. The transition to IFRS provides an opportunity for companies to optimize the financial position of the enterprise by implementing mitigating strategies to reduce the risks and challenges that IFRS brings to the table.

Description: This webcast compares and contrasts four key regulatory capital regimes for life insurers around the world: Risk-Based Capital (RBC) in the United States, Life Insurer Capital Adequacy Test (LICAT) in Canada, Solvency II in the European Union and the Bermuda Insurance Solvency (BIS) Framework in Bermuda.

Description: The recent round of regulatory changes (LDTI, IFRS 17, PBR) has put a demand on actuarial organizations, and in particular, financial reporting functions unlike most have experienced in their careers. With adoption, where does this leave the financial reporting function going forward? What work is left to be done? How will the financial reporting function need to evolve under these accounting regimes? Come explore these topics and more through a moderated debate, inclusive of the following questions: - What are the biggest 'day 2' items that remain on your organization's 'to-do' list? - How are valuation actuaries equipped to navigate the newly available data, understand the results, and tell the underlying earnings story? - How do new regulatory requirements fit into current close calendar requirements? - What are the peripheral impacts from regulatory change (e.g., FP&A, product development) and how are your valuation actuaries involved in these processes?

Description: Appointed actuaries are facing a number of changes in the regulatory landscape. Some of these occurred in the past few years, such as AG51 (Asset Adequacy Testing for LTC). 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. In addition, changes to qualification requirements are on the horizon. Hear from appointed actuaries about the challenges they’ve experienced and how they’ve worked through them. Also, learn what challenges and opportunities they see in the near future and how they are preparing for coming changes.

Description: At the conclusion of this session attendees will be familiar with the status of the NAIC's GOES project and have a better understanding of the scenario sets under consideration and how they can be tested to assess the potential impact to principle-based reserve and capital levels.

Description: Over the past year, the life industry has seen the continued expansion of the Registered Index Linked Annuity (RILA) market. In this session we will take a deep dive into registered index linked products. We will explore common product features and mechanics, key risks, pricing, regulatory, and reserving considerations, and reasons why RILAs have been successful. We will also consider the potential impacts of the rising interest rate environment on product sales and design.