Description: Following recent market volatility and regulatory changes, market data and market-consistent economic scenarios are at the core of the valuation of liabilities and market risk benefits under regimes such as IFRS 17 and Long Duration Targeted Improvements. This webcast will explore options available to insurance companies to establish stable long-term volatility assumptions and discuss how the choice of financial data can impact the calibration and the simulation of credit spread scenarios.

Description: Join us for an insightful session on best practices in setting assumptions and margins for Life and Annuity Products. This session will explore traditional best practices outlined by the ASOPs as well as their application in the context of emerging trends and risks in 2024, such as predictive analytics and AI. The session will also cover evolving trends in assumption governance, as corporate ERM areas become increasingly involved in the assumption setting process. Learning objectives include refreshing and enhancing knowledge of existing ASOPs, as well as understanding strategies for emerging risks that the ASOPs do not yet cover.

Description: Value of new business (VNB) is being used by many companies for various purposes including: internal and external financial reporting, incentive compensation, pricing, capital management, and comparing products, distribution channels or regions on a consistent basis. Presenters will discuss how and why value of new business is used within their companies including: the various methodologies considered, some of the benefits and challenges related to implementing VNB, integrating VNB within their business as usual processes, and managing to VNB.

Description: Even though the 2018 Tax Cut and Job Act significantly simplified the tax valuation methodology, taxation can impact the valuation outcomes and financial decisions. This presentation will start with an overview of the key taxation topics relating to valuation work, and then dive into more complex topics, such as the deferred tax asset/liability handling and reinsurance implications.

Description: This will be an engaging and interactive session that will begin with a game show to level set basic knowledge of LDTI. Next, you will have an opportunity to ask the experts in-depth questions about anything related to LDTI. Finally, we will invite the 2023 adopters to share their experiences with the 2025 adopters. The exact content will be driven by participants but is expected to include MRB valuation approaches, LFPB reinsurance topics, DPL, DAC, and disclosure topics. At the end of the session, participants will understand different perspectives from industry experts and peers on the many facets of LDTI.

Description: As the size of the life reinsurance market in Bermuda has grown to over half a trillion dollars at the end of 2021, more and more actuaries are getting involved with this 21 square mile North Atlantic island in one way or the other. Come explore a fundamental understanding of the Bermuda solvency framework and an overview of its upcoming changes.

Description: Discover the essentials of health reserving in the bustling city of Chicago. This introductory session is designed to demystify the fundamentals of health reserving for actuaries. Explore key concepts such as reserve calculations, methodologies, and regulatory requirements.Led by experienced professionals, this session will equip you with the practical skills and knowledge needed to perform health valuation. Engage with fellow participants and immerse yourself in the vibrant energy of the Windy City as you build a solid foundation in health reserving. Whether you're new to the field or seeking to refresh your understanding, this session is your gateway to mastering health reserving basics in Chicago's dynamic environment.

Description: The Society of Actuaries and LIMRA have sponsored a Variable Annuity Guaranteed Living Benefit Utilization Study. This study is an annual update of earlier investigations conducted since 2006.

Description: This report utilizes a literature review, company survey, company interviews and/or other methods to catalog a listing of common living benefit riders. It was sponsored by the Product Development and Reinsurance Sections along with the Committee on Life Insurance Research. This paper has several goals in relation to each living benefit rider type: to define various living benefit riders, to provide historical sales data and general filing requirements, to explore how underwriting and administration is handled, and to comment briefly on the overall level of claims activity experienced thus far compared to pricing expectations. In addition, it includes a review of the direct and reinsurance pricing implications of the riders to the extent they impact policyholder optionality and base plan financial characteristics. This paper includes perspectives developed through the experience of the authors, and includes executive summaries of a survey conducted by the SOA and Milliman of 34 direct writers, and interviews that Milliman conducted with 8 reinsurers.

Description: This overview shows considerations for consumers when reviewing the Life and Annuity Living Benefit Riders study.