Description: Hybrid life and LTC products are growing in popularity, and reserve calculations for these products pose unique challenges. Find out how practitioners are thinking about modeling, assumption updates, and product considerations.Attendees will be able to describe today's hybrid product reserving considerations, including keys to reserving for acceleration (vs. extension and restoration) benefits, under different reserve paradigms.

Description: Accounting Standards Update No. 2018-12, Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI) has been effective for most large, public business entities since 2023 and will be effective for other insurers in 2025. While the guidance clarifies the need for incorporating claim liabilities and premium accrual balances in the liability for future policy benefits (LFPB) under LDTI, companies may still have questions given there are limited details available around the techniques used in practice. In this article, we demonstrate the need for incorporating claim liabilities and premium accrual balances in the LFPB under LDTI. We also look at two potential approaches of incorporating these accrual balances.

Description: This paper considers the question of whether or not the growth in the size of financial statements witnessed over the last several years has yielded an increase in the quality of disclosure around issues of financial risk and to what extent this disclosure is satisfying the perceived needs of readers of the financial statements, as represented by the investment analyst community. The question is addressed by presenting the results of research consisting of 1 the review and analysis of the disclosures addressing issues of financial risk contained within financial statements issued from 1999 to 2004 by 25 major insurance companies operating in the US and 2 the interviewing of 5 insurance industry analysts to understand their perceptions of what is good and bad about financial disclosure practices of life insurance companies.

Description: U.K. life insurers writing participating business are required by the Financial Services Authority to value their assets and liabilities on a market-consistent basis. The purpose of this paper is to: • Explain the valuation approach based on market-consistent values and its rationale. • Set out the issues faced by life insurers in implementing the regime. • Explain how insurers addressed these issues. • Explain the importance of the modeling techniques they used.

Description: A discussion of the need to connect the interrelated requirements of reserve requirements, capital requirements, risk management, IASB requirements and so forth.

Description: Chairperson’s column discussing the history and future of The Financial Reporting Section of the Society of Actuaries.

Description: The December 2013 issue of the Financial Reporting Section’s newsletter, The Financial Reporter.

Description: This article discusses update in the last two years to Solvency II.

Description: The Individual Life Insurance Valuation Mortality Task Force of the Society of Actuaries has completed a new Valuation Basic Mortality Table for individual life insurance. This was updated April 2005 - Age Last Birthday tables added. This zipped file will decompress into 6 documents 2 Microsoft Word documents and 4 Microsoft Excel spreadsheets. ?Final Report.doc ?Appendix A.doc ?Ratio.xls ?Female.xls ?Male.xls ?ALB.xls

Description: This report provides a resource guide for asset-liability management practitioners, including methodology reviews, a survey of ALM practices, and guidance for applying ALM questions to real-world situations.