Description: This article discusses important implications of the upcoming Long-Duration Targeted Improvements (LDTI) accounting change for the modeling actuary. We discuss the modeling implications of new GAAP standards for Market Risk Benefit (MRB), including identification of MRBs, implementation of fair valuation in actuarial systems and retroactive determination of at-issue valuation inputs for transition. We also examine the modeling implications of the other aspects of the accounting change, including Liability for Future Policy Benefit (LFPB), Deferred Acquisition Cost (DAC), and other transition and disclosure requirements

Description: Actuaries understand the technical benefits of converting their models to a modern actuarial system, such as new capabilities and upgraded technology. This article highlights additional, non-technical benefits that also come with model conversion. These benefits include advancements in attitudes and capacities among the team and across the company.

Description: Historical and actuarial perspectives on the coronavirus events of 2020.

Description: This newsletter column by the Modeling Section Chair reflects on his attendance at the 2015 Actuarial Research Conference in Toronto and the relationships between practicing actuaries in industry and those in academia, and specifically those involved in research. How can we help promote academics research that is effective and relevant for practical use? Hopefully the Modeling Section might facilitate that effort.

Description: An observation is made regarding the impact interest rate scenarios have on VM-20 stochastic reserves.

Description: Chairperson's thoughts on the evolving nature of actuarial modeling, and results of a survey.

Description: Overview of newsletter contents.

Description: An outline of a formal framework for describing models, inspired by the operational context of governance, management, and use of models.

Description: Summary of SOA modeling sessions from 2017, part 2.