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: This report summarizes a research project examining the proposed principle-based framework for reserves and capital for life insurance. The report is a review and analysis of case studies submitted by participating companies in response to proposed changes in individual life insurance statutory reserve and risk-based capital methodologies.

Description: Update on research projects sponsored by the Financial Reporting Section.

Description: An illustration of how to calculate the Stochastic Exclusion Ratio Test given the required inputs as described in the Valuation Manual VM-20 (based on the December 2, 2012, version).

Description: Article about the PBR manual possibly not passing legislation.

Description: Intended for actuaries interested in understanding more about the Medical Loss Ratio and the impact Quality Improving Activities (QIA) and fraud reduction expenses have on the rebate calculation. This session will focus on what expenses qualifies as QIA, examples of programs from major carriers, current regulations and the differences between commercial, and Medicare, and Medicaid requirements.

Description: As the Valuation Manual continues to evolve and PBR standards for additional products are drafted and incorporated, it will become increasingly important for companies to understand how the requirements are consistent across products, as well as how they differ. The presenters will scan the life (VM-20) and annuity (VM-21, VM-22) PBR standards across the Valuation Manual to compare and contrast key requirements. Attendees will learn where common methods and techniques can be used across products and platforms.

Description: This session will cover assumption determination for annuities under VM-21 with emphasis on contract holder behavior assumptions, prudent estimate mortality assumptions and measuring credibility.

Description: SSAP 101 is the new standard which replaces the current temporary guidance set forth under SSAP No. 10R regarding deferred tax assets [DTAs] and Tax Contingency Reserves.

Description: Status of state passage of the new Actuarial Opinion and Memorandum regulation and its effect on Section 7 opinions.