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: 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: Update on IFRS 17 including news, how IFRS 17 is impacting companies financials, comparisons to LDTI, and KPIs.

Description: Recently, life insurers have seen a lot of change in their business model. Whether it be new accounting rules (e.g., long-duration targeted improvements [LDTI]) or new capital charges (e.g., structured equity tranche), companies are being forced to reconsider how they invest their assets. Today's session will help attendees understand how companies are using modelling software to help understand the impact of these changes on both their existing portfolio and potential changes that these new regulations may lead to. By attending, attendees will get a better understanding of: - How life insurers' asset allocation decisions are different than other financial companies (e.g., banks, pension funds, P&C companies) - How these changes may impact the risk vs. reward tradeoffs that life insurers' face - How these companies can use modelling software to help evaluate these potential impacts

Description: This article highlights emerging accelerated underwriting (AUW) monitoring trends and best practices that carriers can implement for monitoring their own AUW programs. It includes high-level mortality slippage findings based on a reinsured study population comprised of both pre- and post-issue auditing methods (random holdouts and post-issue audits) conducted on over 33,000 AUW applicants over the past decade.

Description: This session will cover the treatment of various forms of reinsurance under Valuation Manual-20 (VM-20). Speakers will discuss the implications of various types of reinsurance agreements on the calculation of principle-based reserves (PBR). This will include coinsurance and modified coinsurance, guaranteed and non-guaranteed yearly renewable term (YRT), as well as financial reinsurance. Additionally, practical considerations for PBR in 2024+ will be discussed including adopted and active APF's, their content, and emerging issues.

Description: Presenters will discuss difficulties within the new NAIC ESG, such as how the model deals with interest rate flooring and its treatment of the linkage between equity and treasury bond returns. They will also discuss the documentation and governance process surrounding the new NAIC ESG.

Description: Indexed Universal Life ('IUL') has commanded a substantial share of life insurance sales since it was first introduced nearly 25 years ago. Even today, despite rising interest rates, IUL remains popular. It was one of the only products whose sales grew in 2022. Today's IUL products bear only passing resemblance to those offered when the product was first introduced, with updates to product design driven by regulatory and economic changes.

Description: Stay current with the latest mortality trends and practices in this wide-ranging session, covering research performed by the SOA and their collaborators, including recent research from the SOA's Individual Life Experience Committee. Topics will include mortality improvement, mortality by socioeconomic category, cause of death analysis, and insurance company life experience quintile analysis.

Description: Join us for a lively discussion on how accelerated underwriting (AU) practices have evolved over time and specifically because of COVID-19.