Description: This session will discuss two important dimensions of why a holistic approach is recommended over a piecemeal, nonintegrated approach for an IFRS 17 modeling solution. Attendees will receive three perspectives from actuaries working as actuarial consultants or within an insurance company or as a software developer. The first dimension is model design. The session will demonstrate holistic model design advantages with regards to model inputs, model outputs, liability portfolio management, modeling efficiency, and transparency. The second dimension represents organizational impacts resulting from the model design.

Description: Estimating premium deficiency reserves (PDR) for medical insurance and other short-duration health products is an area that not only requires application of actuarial judgment, but also alignment between actuaries, accountants, and regulators. Significant diversity of practice exists across the industry on a number of key issues, among them: how to group products for PDR measurement purposes; which future premium & claim cash flows to include (time horizon); forecasting future membership change; which administrative expenses to include; and how to think about investment income. In many cases, practices that are common in the actuarial community may be met with skepticism by auditors and/or regulators, and vice versa. This session will showcase the existing diversity of practice observed in both U.S. GAAP and U.S. Statutory PDR estimation, articulating multiple points of view on the issues noted above with a focus on finding common ground between actuaries and accountants.

Description: This session will cover the treatment of various forms of reinsurance under Valuation Manual-20 (VM-20). Speakers will discuss the implications of various types of reinsurance agreements on the calculation of principle-based reserves (PBR). This will include coinsurance and modified coinsurance, guaranteed and non-guaranteed yearly renewable term (YRT), as well as financial reinsurance. Additionally, practical considerations for PBR in 2024+ will be discussed including adopted and active APF's, their content, and emerging issues.

Description: It's time to talk about Bermuda and Cayman as offshore jurisdictions for life reinsurance. Bermuda, a growing destination for life and annuity reinsurance over the last few years is developing significant changes to its regulatory framework. Asset, liability, and capital requirement will all change under proposed new rules. The changes will not only require rethinking of U.S. and international reinsurance ALM strategy and pricing, but also product strategy and pricing for primary insurers. Developing compelling ALM strategies and products under the evolving Bermuda regulatory framework is an interesting challenge for the U.S. and international insurers and reinsurers. In addition to Bermuda, the speakers will discuss the emerging Cayman life reinsurance market.

Description: For actuaries, finance and IT professionals, the long-duration targeted improvements (LDTI) implementation has been a career milestone. These projects were often the most significant undertaking of individuals’ careers, with respect to scale, complexity and duration. Join this session and participate in small groups, with consideration given to ensure each group has representation from both 2023 and 2025 filers., with moderators presenting questions to encourage small group discussion.

Description: Join us for discussion about the tax implications for direct writers ceding annuity blocks. The presenters will describe the mechanics and consequences for both onshore and offshore reinsurance arrangements. This will introduce the audience to the tax consequences, with the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are US-based and not US domiciled.

Description: This project examines how companies perform deterministic scenario analysis, focusing on a worldwide IT disruption and its operational impacts. It highlights the use of table-top exercises to estimate direct and indirect effects, leveraging senior managers' experience.

Description: The tape has finally been broken on live reporting with International Financial Reporting Standard 17 (IFRS 17). The insurance industry across much of the world now pivots focus from implementation efforts to assessing disclosed impacts of the new global standard. During this session, the presenters will explore how equity positions are changing for companies after adopting IFRS 17, particularly given the recent interest rate environment.

Description: A closer look at the Reinsurance Loss-Recovery Component (RLRC) under IFRS 17

Description: Virtual - Session 7C: February Is The Longest Month - Preparing the Orange Blank Actuarial Memo