Description: As VM-22 becomes the new standard for statutory valuation of non-variable annuities, insurers must navigate a range of implementation challenges and strategic considerations. This session will provide attendees with a comprehensive roadmap for preparing for VM-22, addressing critical questions that will shape a successful transition: What are the key considerations when deciding between early adoption and waiting until the end of the transition period? How will reserve levels shift under the new framework, and what strategies can help mitigate financial volatility? What models, tools, and analyses are needed not only to comply but also to interpret results, manage risks, and help leadership gain confidence in the results?

Description: Dive into the vibrant world of Bermuda's reinsurance market! This session will provide a comprehensive overview of the latest market trends shaping Bermuda's dynamic landscape. First, we will explore how global shifts and regulatory changes are influencing market strategies and review recent deal activity. Afterward, we will examine hot topics in offshore valuation, exploring innovative approaches and methodologies emerging in this unique jurisdiction. Whether you're interested in market dynamics or valuation intricacies, this session promises to equip you with the insights needed to stay ahead in Bermuda's ever-evolving financial ecosystem. Join us for an informative journey that combines expert analysis with practical insights.

Description: This session provides a comprehensive overview of the enhancements to the VM-22 principles-based reserving framework. It features a case study on Fixed Indexed Annuities (FIA) with Guaranteed Minimum Withdrawal Benefits (GMWB), providing a step-by-step attribution analysis that transitions from the current statutory reserve to the new VM-22 reserve, highlighting the assumptions or components influencing the results. The session will also take you along on the journey from a software vendor perspective where we’ll highlight specific VM-22 regulatory changes driving software updates over the last few years, ultimately maintaining alignment with VM-20 and VM-21.

Description: Statutory and GAAP metrics are useful for regulators, investors, and other external parties who require a consistent basis for viewing snapshots of companies at a point in time, however, their uses are more limited for managers who are tasked with making strategic decisions. Many insurers are turning to internally developed metrics such as value of new business (VNB) for better profitability insights at the point of sale and to understand how new business profitability changes over time. By leveraging existing models and reporting processes, insurers can reduce the additional effort involved, applying VNB toward applications such as pricing, capital allocation, and risk management. Discuss key considerations for developing and using VNB. Begin with a brief overview of VNB, including how VNB addresses specific shortcomings of Stat and GAAP. Next, discuss applications of VNB for life and annuity business and conclude with some implementation case studies.

Description: Reinsurance transactions have become increasingly common in the annuity market as means to reduce risk, improve pricing, release capital, or exit a line of business. The market has become increasingly complex as it has grown. Insurance carriers and reinsurance providers now need to keep up with a growing range of reinsurance structures to manage their business efficiently. This session will detail the different types of annuity reinsurance transactions currently being executed in the market, the costs and benefits of different approaches, and recent trends in reinsurance structuring. At the conclusion of the session, you will understand the basics of how annuity reinsurance is being used in the market today as well as how to understand and evaluate potential reinsurance transactions.

Description: Discover an overview of key trends in the pricing of RILAs, including key pricing assumptions and methodologies. Topics will include pricing targets/measures, surrender assumptions, pricing scenarios, use of ALM models and other key aspects, key product considerations given regulatory and distribution impacts.

Description: Harnessing the transformative power of recent accounting changes, US GAAP LDTI in the US and IFRS17 globally, insurers around the globe are embracing changes in their operating models. These changes impact areas of processes, technology, data, and, arguably most importantly, people. As insurers continue to evolve and streamline their financial reporting processes under the new standards, many have identified needs for organizational transformation to align actuarial, finance and technology teams in a cohesive manner to support the new financial reporting requirements.

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: ReFocus is an annual global conference for senior-level life insurance and reinsurance executives hosted jointly by ACLI and the Society of Actuaries (SOA). This event features top-notch speakers, thought-provoking sessions, and superior networking opportunities.

Description: Discussion of Living to 100 Session 5A. The papers presented propose a new method to price the longevity risk premia in order to tackle the pricing obstacle and reviewed the insurance industry implications on retirement planning and the secondary market in insurance.