Description: The world of climate risk disclosures has seen dizzying levels of change in the last few years. In 2023, many regulators have publicly issued guidance on what insurance companies and other FIs should look to disclose. So what are we seeing in these disclosures and how do we use this information? Join our panel of experts to learn about the evolution of U.S. life insurance industry's climate disclosures and how insurers of all sizes and complexities are responding to NAIC's requirements.

Description: The surge in interest rates over the past few years presents opportunities for life insurers to enhance their Asset and Liability Management (ALM) positions through asset rebalancing to narrow the duration gap and secure higher risk-adjusted yields. This webcast introduces a robust, efficient and readily-executable, liability-driven strategic asset allocation (SAA) framework and implementation considerations. At the conclusion of the webcast, attendees will learn about the key objectives and practical considerations for a successful SAA.

Description: This report focuses on the risks of change in the insurance industry and adapting to the "New" New Normal. It includes survey results, analysis, and discussions on various risks affecting the industry in the current environment.

Description: Look beyond traditional reinsurance arrangements. Strategically crafted reinsurance structures can support new business and achieve a wide range of risk management and financial objectives. Consider creative ways to look holistically at your business to develop the most effective solutions. Combine in-force and new business? Yes! Individual and group? Of course. Multiple product types? That can work! Whether you are trying to free up capital, address an underperforming block or venture into a new line of business, there are reinsurance structures that can help. Look at a virtual case study with a panel of experts and consider the options for selecting and structuring a reinsurance transaction. View key elements such as scale, composition and market appetites. Look at a variety of products including life, annuity, PRT and long-term care. The panel includes representation from a carrier, a reinsurer and a reinsurance broker. Get the opportunity to weigh in on decision points using online polling software, whether in person or virtual.

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: Global trends in both technology and regulation are causing U.S. insurers to reflect more deeply on their model risk management frameworks. The world has seen a rapid proliferation of AI-based tools accompanied with an overall increased usage of machine learning models, exacerbating model risk and reducing transparency in an unprecedented manner.

Description: While European insurers are subject to Solvency II and some Asian insurers adopted IAIS ICS, Bermuda enhanced its BSCR capital framework on 3/31/2024 and Japan has customized IAIS ICS to create Economic Value-Based Solvency Ratio (“ESR”). ESR will replace the existing capital framework from 3/31/2026. The ESR implementation brings significant changes to life insurers in Japan as it did to European insurers at the time of the Solvency II implementation. This session will discuss the background of the ESR framework, under which Japanese life insurers will be subject to increased governance, supervision will be also enhanced, and provide key comparisons to IAIC ICS and BSCR. Panels will also discuss potential implications to business such as strategy, risk management, and reinsurance for the viewpoints of Japanese life insurer with US and/or Bermuda subsidiaries.

Description: We will discuss how climate change risk represents radical uncertainty and the challenges this presents in integrating climate risk analysis and traditional investment risk analysis. The session will then explain and illustrate why deterministic, narrative-based, scenarios form a suitable basis for analyzing the potential impact of climate change on investment portfolios and strategies. At the conclusion of this session, attendees will understand deterministic and stochastic approaches to integrating climate risk with economic scenarios and how these can be applied in investment management. Attendees will also understand the challenges in creating a realistic integration of climate and economic scenarios.

Description: Global trends in both technology and regulation are causing U.S. insurers to reflect more deeply on their model risk management frameworks. The world has seen a rapid proliferation of AI-based tools accompanied by overall increased usage of machine learning models, exacerbating model risk and reducing transparency in an unprecedented manner. This rising tide of AI means that it is imperative for U.S.-based insurers to address these emerging risks within their model risk management (MRM) frameworks. Regulation also continues to evolve in this space: in Canada, the Office of the Superintendent of Financial Institutions (OSFI) revised Guideline E-23 to instill more detailed model risk management standards; in Bermuda, the Bermuda Monetary Authority (BMA) has published CP2 to add increased scrutiny on the data and models used by insurers. Insurers must react: MRM frameworks require prudent revisions to reflect these ever-changing landscapes of risk. Reassessing the core pillars of MRM frameworks-risk measurement, model development, validation, monitoring, and governance-is key to understanding the consequences of these evolving market changes on insurers' risk profile. Overall, the inclusion of these new tools into the world of insurance necessitates a thorough examination of insurers' MRM frameworks in order to align these new risks with core MRM principles. In this session we will: - Reflect on recent drivers of change and how they should be considered in the context of MRM - Explore best practices as it relates to MRM frameworks in the context of current global trends - Describe challenges, success stories, and lessons learned relating to recalibrating and embedding MRM frameworks

Description: Combinations of risks are an important component of the Survey of Emerging Risks, now in its 15th iteration. Also known as risk clusters or compound risks, the most popular in the survey define threat multipliers, where a risk makes other risks worse. The top risks chosen are trended for the last 10 years, showing interesting cycles and discontinuities.