Description: The implementation of the IFRS 17 insurance accounting standard has brought significant changes to the financial reporting landscape of insurance companies. With new disclosure requirements and altered profit analysis, understanding and interpreting future profitability have become a topic of concern for the industry. While stability remains a key objective for insurance companies, the earning patterns might become more volatile especially when the contractual service margin (CSM) is exhausted, and a loss component (LC) needs to be established. Reinsurance, a common risk mitigation tool, can play a pivotal role in managing earnings volatility and minimizing losses for onerous measurement units. In this article, we propose a new key performance indicator (KPI) called “loss recoverability” to assess the performance of reinsurance treaties in achieving these objectives. We explain how this KPI can be utilized in multiple scenarios to evaluate the effectiveness of reinsurance strategies and pursue stability in earning patterns.

Description: Legacy may seem far away, but for entrepreneurial actuaries, legacy is now. This article shows entrepreneurial actuaries how they can think of their legacy as the breadcrumbs they leave with their teams, their clients, and their community.

Description: The article contains a description of the Emerging Topics Community. The focus of the article is what is a community, what makes the Emerging Topics Community special, and benefits of the Community. Included after the discussion on the community are ways to get involved and be a part of the community.

Description: Joint Risk Management Section chairperson's corner, June 2023

Description: In this 90-minute webinar, presenters will address 10 career myths (or things people tell you that are not true), and how these relate to actuarial work.

Description: The Society of Actuaries (SOA) Board of Directors is pleased to announce the creation of a Diversity Extension of the new University-Earned Credit (UEC) program. One of the SOA’s key strategic initiatives is to engage diverse communities to address key societal issues and to work to build a more diverse actuarial profession. The UEC Diversity Extension will begin investing in efforts to achieve greater diversity within the actuarial profession.

Description: At this engaging professionalism webcast, be prepared to reflect on the values of the actuarial profession and in particular the actuarial standards of practice related to long-term care.

Description: Meet the authors of and learn about the contributors to the newly published e-book "Design Your Future with the Competency Framework." Presenters will share their personal reflections, stories and words of wisdom to bring to life the eight professional and personal competencies in the SOA Competency Framework.

Description: A news release announcing details on the upcoming FSA evolution

Description: Introduction to ILA Module.