Description: This session will review reinsurance fundamentals, risk assessment techniques, optimization strategies, and regulatory considerations through case studies and best practices. Attendees will gain insights into enhancing capital management, risk mitigation, and improving operating results, utilizing practical insights from both reinsurers and direct experience. This presentation offers a valuable and practical opportunity to navigate the complexities of reinsurance, optimize transactions, and driving strategic growth in today's dynamic insurance landscape.

Description: How might retirement income strategies be designed and their suitability assessed when retirees may differ substantially in their objectives, preferences and personal circumstances? Gain a wide-ranging overview of the key elements involved in formulating retirement strategies, drawing on the report, Primer on Retirement Income Strategy Design and Evaluation, which was recently released by the Society of Actuaries (SOA) Research Institute's Aging and Retirement Strategic Research Program. Hear about three types of income objectives-income floor, income target and income optimization-and how they imply different retirement strategies along with a different set of metrics to evaluate outcomes. We will also touch on key member attributes to account for: The nature of income risk, approaches to investing and drawing down on available assets to generate income, and how stochastic modeling can support the analysis. You will find something of interest in this session, regardless of prior familiarity with strategies for retirement.

Description: Given the rise in interest rates during 2022, explore the implications of increasing rates on FA and FIA business by looking at industry experience for FA and FIA products for 2022 compared to earlier years. Additionally, come walk through partial withdrawals, GLWB utilization, mortality and what to expect as interest rate volatility continues. You'll also discover how direct writers and reinsurers are handing the in-force management aspects of these products in the uncertain and volatile economic periods. Key learning outcomes include: - Understand the impact of rising rates on dynamic lapse for FA and FIA products - Explanation ofin-force management actions that are being taken in the current interest rate environment - Be informed of current trends in GLWB utilization

Description: Companies are looking to modernize their FP&A processes and functions to deliver actionable insights, particularly in light of regulatory changes such as IFRS 17, LDTI, and PBR. New key performance indicators (KPIs) are emerging and FP&A function needs to evolve and adapt to these new paradigms, being a key function in monitoring the company's financial performance. Discover perspectives from filers under different bases: statutory, GAAP and IFRS and come learn how to elevate and enrich data, models, processes, and technology amidst changes to regulatory reporting. You'll also cover key considerations for the optimal design and interaction model between Finance, Actuarial, and other departments.

Description: 2023 was a year of continued change for the annuity market as interest rates stayed high. The rapid growth of RILA products stalled as FIA and MYGA products saw a significant increase in market share, with bonus products being extremely popular. The impact of ASOP 2 and the higher rate environment are continuing to be realized in experience, in-force management, product design and more. Learn more about the retail annuity market with a focus on the impacts of the current interest rate environment. Session materials will draw on experience studies, sales results, product changes, and more, which will examine how higher interest rates have altered the annuity market. At the conclusion of this session, you will understand recent trends in the annuity market, including emerging experience, new product designs, regulatory changes, and the impact of high interest rates.

Description: Discuss a comparison of the U.S. general and insured population mortality experience and how COVID-19 and non-COVID-19 excess deaths impacted the populations differently. Discover the population mortality experience in the UK with a focus on the recent emergence of excess deaths for non-COVID causes. The long-term implications on the insured population will also be explored. Wrap up with a discussion of different conditions of long COVID, including organ impairments.

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: Statutory and GAAP metrics are useful for regulators, investors, and other external parties who require a consistent basis for viewing snapshots of companies at a point in time, however, their uses are more limited for managers who are tasked with making strategic decisions. Many insurers are turning to internally developed metrics such as value of new business (VNB) for better profitability insights at the point of sale and to understand how new business profitability changes over time. By leveraging existing models and reporting processes, insurers can reduce the additional effort involved, applying VNB toward applications such as pricing, capital allocation, and risk management. Discuss key considerations for developing and using VNB. Begin with a brief overview of VNB, including how VNB addresses specific shortcomings of Stat and GAAP. Next, discuss applications of VNB for life and annuity business and conclude with some implementation case studies.

Description: Reinsurance transactions have become increasingly common in the annuity market as means to reduce risk, improve pricing, release capital, or exit a line of business. The market has become increasingly complex as it has grown. Insurance carriers and reinsurance providers now need to keep up with a growing range of reinsurance structures to manage their business efficiently. This session will detail the different types of annuity reinsurance transactions currently being executed in the market, the costs and benefits of different approaches, and recent trends in reinsurance structuring. At the conclusion of the session, you will understand the basics of how annuity reinsurance is being used in the market today as well as how to understand and evaluate potential reinsurance transactions.

Description: Under U.S. GAAP long-duration targeted improvements (LDTI), some non-VA annuity products contain features scoped in as 'market risk benefits' (MRBs), which are required to be measured at fair value. For U.S. insurers, the question becomes 'How does the emerging principle-based reserving framework for non-variable annuities compare to the fair value framework for MRBs under LDTI?' See a comparison between these two new measurement models, highlighting some of the key considerations due to the added complexity of these calculations, to help companies strategically plan for their future state.