Description: VM-22 was first introduced into the Valuation Manual in 2018. A number of changes have been made since its introduction, with more expected on the way. This article compares valuation requirements for income annuities pre- and post-VM-22, discusses technical and implementation implications with regards to VM-22 (including comparison with New York Regulation 213), and considers future revisions.

Description: Join a discussion on the tax implications for direct writers ceding annuity blocks for both onshore and offshore reinsurance arrangements. Get an introduction to the tax consequences of the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are U.S.-based and not U.S. domiciled.

Description: In this session, presenters will share the impacts of transition to IFRS 17 on equity and various KPIs across insurance companies (Life & P&C), as well as share some observations of what the IFRS 17 landscape looks like across different global regions. The session will conclude with lessons learned and expectations for emerging practices under IFRS 17 globally.

Description: Gain a high-level understanding on how long-duration targeted improvement (LDTI) impacts insurance products and earnings. Explore highlights on secondary impacts to companies due to additional complexity of LDTI, such as a need for a source of earnings analysis. Then dive into the details and hear an explanation on how earnings emergence differs for each type of life and annuity product impacted by LDTI. Finally, discuss the impact -to-earnings volatility under LDTI for each product type. Close the session by connecting how the investor story changes with all the impacts discussed during the session.You should walk away with a good understanding of LDTI earnings emergence, which is a topic that has very limited thought leadership available today.

Description: S&P Global published a revised insurance capital model in November 2023. The revisions add considerable complexity to their insurance capital model and rely more on companies to fill out the detailed model inputs. In return, the new model allows for better risk differentiation and an overall better assessment of insurance company risk-adjusted capitalization. In this session we will review the new capital model in-depth, considering its implications for capital management and product development. By the end of the session, attendees should have a deeper understanding of the revised criteria of the S&P insurance capital model, including its most important risk drivers and how it relates to the AM Best 'BCAR' and the NAIC RBC capital models.

Description: The purpose of this session is to discuss hot topics pertaining to post-LDTI GAAP valuation for FIA and RILA products including FAS 133, market risk benefits, intangibles, and ceded GAAP. At the conclusion of this session, attendees will have a clear understanding of how the industry views GAAP approaches to indexed annuity products in a post-LDTI framework. In addition, attendees will learn about ongoing pain points in GAAP valuation for indexed annuities and areas of post-LDTI GAAP where the industry still has broad variation in methodology and application.

Description: Attend this webcast to learn more on how to navigate managing ESG principles in the new normal of a post-COVID world. Enhance your ESG insights in a post-pandemic landscape.

Description: Companies are looking to modernize their FP&A processes and functions to deliver actionable insights, particularly in light of regulatory changes such as IFRS 17, LDTI, and PBR. New key performance indicators (KPIs) are emerging and FP&A function needs to evolve and adapt to these new paradigms, being a key function in monitoring the company's financial performance. Discover perspectives from filers under different bases: statutory, GAAP and IFRS and come learn how to elevate and enrich data, models, processes, and technology amidst changes to regulatory reporting. You'll also cover key considerations for the optimal design and interaction model between Finance, Actuarial, and other departments.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.September 12The optional “boot camp” will provide an intense introduction to the basics of product taxation. The boot camp will include sessions focused on life insurance, annuities, and long-term care combination products. The basis of the boot camp will be the authoritative textbooks, “Life Insurance and Modified Endowments Under IRC Sections 7702 and 7702A” and the “Annuities Answer Book.” Book authors will conduct these optional programs. September 13–14The general sessions will feature product, tax, legal and compliance experts as well as Internal Revenue Service (IRS) representatives. Recent changes in the qualification requirements of insurance products and a host of product tax issues beyond Internal Revenue Code (IRC) section 7702 and 7702A will be emphasized.