Description: A discussion of the possible effort required and impacts resulting from the implementation of C3 Phase II for establishing risk-based capital for variable annuities. This article will describe practical considerations gleaned from actual valuation calculations recently performed by a consulting firm.

Description: Discussion of the movement toward principle-based reserves for LTC insurance.

Description: This article describes changes to financial reporting for variable annuities under US GAAP, IFRS and Statutory regulations, and implications for hedging.

Description: Hot topics and emerging trends in assumption development in US life insurance companies

Description: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: This 2008 article discusses the current status of the statutory principle-based approach PBA to reserves and capital, including risk based capital RBC, federal income tax implications, and other topics, noting that the project is “still a work in process.”

Description: Preparing an effective actuarial memorandum in support of the health actuarial opinion.

Description: This article discusses the current status, including differing views, on the treatment of risk transfer in reinsurance agreements under the principle-based reserves PBR approach.

Description: Overview of activities of the Financial Reporting Section.