Description: Under long-duration targeted improvements (LDTI), there are a few insurance liability balances that now are required to be fair valued, market risk benefit (MRB). The session will start from all the applicable balances that are required to be fair valued under LDTI ((i.e., MRB, financial accounting statement (FAS) 133, value of business acquired (VOBA) upon business combination)). 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 indexed annuity (FIA) contract. The case study will discuss some MRB fair value considerations and followed by FAS 133 fair value techniques. It will go over VOBA fair value estimation by using actuarial appraisal method with a few twists (e.g., using market yield in generating distributable earnings is better than using book yield and adjusted to bring it to fair value later on).

Description: This session will27601 summarize the key National Association of Insurance Commissioners (NAIC) activities with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. Hear insights into the current set of activities and initiatives being considered and/or adopted by the NAIC Life Actuarial Task Force (LATF) and the NAIC Risk Based Capital Working Group. In addition, other actuarial practice issues and other appointed actuary and opinion topics relevant to life insurance, variable annuities and fixed annuities will be discussed, including recent exposures and adoptions by the Actuarial Standards Board. By the end of the session, attendees will understand what changes are being made to reserves, RBC, PBR and actuarial standards and related topics, and the anticipated timing of such emerging changes.

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: This web page contains the 2011-2014 Group Annuity Experience Report and Pivot Tables.

Description: This web page contains the 2011-2014 Group Annuity Experience Report and Pivot Tables.

Description: This presentation presents a decumulation strategy during retirement with the purchase of deferred annuities.

Description: This abstract describes a study that presents a hypothetical example of a UK term annuity firm and studies its solvency over the period 1985-2010 under various economic capital calculation approaches.

Description: The speaker will share his insights into the hedging challenges faced by FIA and VA business in the current market environment.

Description: VA reserve and capital reforms are effective 1/1/20 and the first year of reporting under the new framework requires several key milestones for annuity valuation actuaries to achieve. Discuss key implementation issues, including the new standard projection, optionality around hedge treatment and taxation, discuss disclosure requirements as well as the PBR report requirements. Overall focus on decisions to be taken by a valuation actuary with respect to reporting under the new framework.