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: Description and welcome to the 2020 Canadian Reinsurance Conference including highlight of the key note speaker

Description: The article discusses the innovative integration of the SOA Research Challenge into the actuarial curriculum at the University of New South Wales (UNSW). This integration, part of the capstone course "Actuarial Theory and Practices," transforms the educational experience by focusing on hands-on problem-solving and mirroring professional actuarial work. Key topics covered include setting assumptions, understanding external environments, the modeling process, data quality, and risk management.