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: In this session, we will delve into the complexities of liquidity risk within insurance portfolios, focusing on how insurers manage this risk in an increasingly competitive and volatile market. With insights from industry leaders and real-world examples, attendees will gain a comprehensive understanding of the factors driving liquidity risk and the strategies used to mitigate it. We will explore the impact of economic policies, market dynamics, and regulatory changes on liquidity risk management.

Description: Heatmaps are an effective tool for visualizing changes in cancer incidences over time in large datasets. They can show the impact of screening measures, particularly when targeting specific age groups, and reveal characteristics of individual cohorts.

Description: This session will discuss key National Association of Insurance Commissioners (NAIC) activities, with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. The presenters will provide insights into the current set of activities and initiatives being considered and/or adopted by the NAIC Life Actuarial Task Force (LATF) and the NAIC Risk Based Capital Working Group as well as Actuarial Standards Board.

Description: "Risk Management starts with identifying, quantifying, and then monitoring the key risks a company is exposed to. From a life company perspective the key risks are investment returns, expenses, and mortality. IFRS17 allows quantifying and measuring those key risks by building expectations, as in the initial recognition, and monitoring the actual outcomes achieved, as in subsequent measurement. Risk can be measured, monitored, and corrective action taken by allowing the experience to emerge and be compared to our initial estimates. Comparing initial vs. subsequent figures allows the company to identify whether it had a profitable quarter or not. For a profitable quarter, it makes sense to release profit from the CSM and RA accounts. For a non-profitable quarter, it makes sense to build up funds in the RA account from CSM funds so that no profit is released. In this case, the release from the CSM exactly matches the buildup of RA_release, as no funds are released to shareholders. Two examples of subsequent measurement scenarios will be given along with their initial Recognition figures: one exceeding IR figures and the other losing to IR figures. We will see how to manage risk by controlling the release of shareholder funds. Comparing actual vs. expected figures allows us to do this. We will also see how this affects the Embedded Value and Value of In-force business. Key Learning Outcomes: 1. Given the Initial recognition figures, compute profitability and required releases of the risk adjustment RA and CSM accounts. 2. Calculate subsequent measurement figures for SR_RA, SR_CSM, and Value of in-force business."

Description: 2025 ValAct Virtual - Professionalism panel

Description: Life and annuity insurers have been steadily adding more structured securities and other “complex assets” to their investment portfolios over the past decade. This Webcast will review what these assets are, why insurers use them, and what risks they introduce.

Description: Asset intensive reinsurance has become a focal point of actuarial, administrative, and regulatory consideration recently. This session will walk through one such real-world reinsurance case study of an illustrative transaction - from the initial actuarial-related due diligence process of the cedant's subject business through the onboarding and integration of the subject business into the reinsurer's platform. The following topics will be addressed: actuarial due diligence, experience studies and assumption setting, model validation, model development, and onboarding of the subject business. The session aims to provide a variety of insights into this process across different business units and functions. At the conclusion of the session, attendees will have a firm understanding of a variety of transaction-related topics within the context of a real-world transaction.

Description: This video summarizes findings from a 2025 SOA Research Institute survey of 750 Taiwanese consumers on retirement readiness, focusing on income sources and financial awareness among an aging population. It is presented by Dale Hall, Managing Director at the Society of Actuaries Research Institute.

Description: Life and annuity insurers have been steadily adding more structured securities and other “complex assets” to their investment portfolios over the past decade. This Webcast will review what these assets are, why insurers use them, and what risks they introduce.