Description: The Society of Actuaries Financial Reporting Section is pleased to make available a new report examining the International Standards Board’s (IASB) Re-Exposure draft, Insurance Contracts, issued in June 2013. Performed by Rodrigo Careaga, Tara Hansen, Asad Khalid, and Bruce Rosner of Ernst & Young LLP, this study illustrates differences in earnings emergence for new business projections between current US GAAP and the proposed standard for a sample of 12 products. Additionally, it shows the impact on earnings emergence of various sensitivity tests.

Description: This is the traditional life excel spreadsheet example from this presentation on GAAP for traditional products under FAS60. This was part of the U.S. GAAP & IFRS: Today and Tomorrow conference held in New York in September of 2010.

Description: Learn about the innovations of life & health products and distribution in the Asia market.

Description: Actuarial modernization is defined as a significant step change in an organization's productivity resulting from improvements to the operating model (people, processes, and technology). As an integral part of insurance companies, actuarial departments play a crucial role in the ongoing change of the industry. This webcast will define this transformation, including who is involved, and provide examples on how it is being implemented.

Description: The session will discuss key areas of statutory reserving that contain some ambiguity or areas where there are simplifications being used in the industry. The content will be based on current practices used in the industry and possibly accompanied by an industry survey to be completed prior to the session. The focus will be heavily on CRVM, AG38, and PBR statutory frameworks and will include a Q&A portion for audience participation. Some potential topics will be reinsurance modeling, DBO3/ROP treatment, segmentation, deficiency reserves, system differences and multi-tiered designs

Description: Analyze the market volatility behavior in context with historical extreme events during this webcast. There will be a focus on understanding volatility clustering and relationships, both contemporary and temporal, in addition to key economic and capital market variables. You'll also learn from a comprehensive attribution analysis, which uses economic data, asset data, retail investor data and event data as explanatory variables. Dive into investment-related Reddit comments used to capture features of retail investors and tree-based models, including Random Forests and Gradient Boosting Machines to justify changes in volatility modeling. Expect this webcast to end with an example of liability-driven investment optimization that illustrates the potential impact of increased volatility assumption, how to adopt stochastic volatility models, how to reflect volatility clustering and return jumps.

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: The Smaller Insurance Company Section Buzz Groups at the Valuation Actuary Meetings and the SOA Annual Meetings have always generated great discussions, ideas, and opportunities to hear about topics that affect the actuarial work of small companies. Join us for the Smaller Insurance Company Section Buzz Group to discuss the issues affecting Smaller (and larger) Insurance Company actuaries during these emerging changes. Bring your thoughts, opinions, ideas, and participation to discuss our special concerns.

Description: This document is a research study conducted by Derrick FUNG Wing Hong, PhD, FSA, CERA, from The Hang Seng University of Hong Kong, sponsored by The Society of Actuaries Research Institute. It investigates the impact of COVID-19 on insurers and the relationship between Enterprise Risk Management (ERM) sophistication and insurers' resilience.

Description: The SOA Research Institute’s Committee on Finance Research is pleased to make available a paper that specifies general considerations to guide the development of a methodology to attribute spread to different investment risks related to AG53.