Description: Sales of index-linked annuities such as FIAs and RILAs have been setting new records while sales of traditional VAs have been declining. This webcast will survey the latest generation of FIA and RILA products, examining the impact of the current market environment and how the landscape is expected to change when the FED starts cutting interest rates.

Description: The rising interest rate environment has presented more attractive alternatives for VA risk management, but the benefits of different strategies can vary significantly by block of business. This session will highlight key drivers for risk management decisions for variable, fixed index, and registered index-linked annuities. With the viewpoints from different direct writers, reinsurers and preliminary findings of the 2024 Milliman Derivatives Study, the session will then show how product mix, tenure, and regulatory regime influence strategic decision-making. At the end of the session, the audience will help make strategic decisions on sample blocks of business and see how their choices play out in different hypothetical scenarios.

Description: This session will showcase how from an actuarial perspective IFRS17 has its roots in market consistent valuations. It will also show how International Financial Reporting Standard (IFRS) 17 is rooted in probability-weighted stochastic scenarios-same as fair valuation, and how initial recognition sets the stage, as in the pricing basis and report, for actual experience to emerge as in the subsequent recognition. A detailed model will be given for a simple annual premium non-par endowment and actual numbers given and explained. The stochastic model will explain in detail the key reserve items in IFRS 17 including: - Liability for remaining coverage (LRC) - Risk Adjustment (RA) - Contractual Service Margin (CSM) And it will explain their interactions with one another. A discussion will be held regarding universal life policies with simple interest guarantees. And how these guarantees merit a valuation similar to Lookback options because of their path-dependent nature.

Description: Runtime of actuarial models and their associated processes has been a growing concern amongst the industry. This session will explore how expanding regulatory requirements, refined analytical objectives, and the desire for process optimization have increased the amount of processing power needed to get answers in a timely manner. Presenters will dive into how companies are leveraging data, refined pre- and post-processing routines, runtime reduction techniques, and cloud-based solutions to increase their efficiency in producing, analyzing, and validating model results.

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: The purpose of this session is to discuss hot topics pertaining to post-LDTI GAAP valuation for FIA and RILA products including FAS 133, market risk benefits, intangibles, and ceded GAAP. At the conclusion of this session, attendees will have a clear understanding of how the industry views GAAP approaches to indexed annuity products in a post-LDTI framework. In addition, attendees will learn about ongoing pain points in GAAP valuation for indexed annuities and areas of post-LDTI GAAP where the industry still has broad variation in methodology and application.

Description: The session will use a case study to discuss some of the nuances and general considerations for an MRB, FAS 133 and VOBA balances for a business combination for an fixed index annuity (FIA) contract. The case study will discuss some MRB fair value considerations and followed by FAS 133 fair value techniques.

Description: Kick off with 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. In addition, other Actuarial Practice Issues and other Appointed Actuary and Opinion topics relevant to Life Insurance, Variable Annuities and Fixed Annuities will be discussed.

Description: This webcast will walk through several statistical methods for imputing race and ethnicity from U.S. datasets, highlighting their strengths and weaknesses, talking about how to use them and evaluating their accuracy, and telling you where you can get code packages as well as a free dataset to try the methods out.

Description: Under long-duration targeted improvements (LDTI), there are a few insurance liability balances that now are required to be fair valued, market risk benefit (MRB). The session will start from all the applicable balances that are required to be fair valued under LDTI ((i.e., MRB, financial accounting statement (FAS) 133, value of business acquired (VOBA) upon business combination)). The session will use a case study to discuss some of the nuances and general considerations for an MRB, FAS 133 and VOBA balances for a business combination for an fixed indexed annuity (FIA) contract. The case study will discuss some MRB fair value considerations and followed by FAS 133 fair value techniques. It will go over VOBA fair value estimation by using actuarial appraisal method with a few twists (e.g., using market yield in generating distributable earnings is better than using book yield and adjusted to bring it to fair value later on).