Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

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: Long Duration Targeting Improvement's (LDTI's) roll-forward disclosure requirements include line items for the impact of actual variances from expected experience (A/E) for both net premiums and benefits. These aggregate A/E amounts provide some insight into how actual experience is emerging relative to expectations, but they do not provide insight into either the drivers of the deviations or their significance.

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

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: What do companies look at when they ultimately decide to pursue financial reinsurance? Or when they decide to develop a new product? This presentation will explore enterprise profitability frameworks and their impact on strategic decision-making. Having the right metrics and profitability measurement approach is crucial for life insurers to drive alignment with stakeholders on top-level objectives and frame trade-offs between competing enterprise financial goals.

Description: View the COVID-19 Low Interest Rate Environment Cash Flow Testing Survey Summary of Results April 23, 2020

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.September 12The optional “boot camp” will provide an intense introduction to the basics of product taxation. The boot camp will include sessions focused on life insurance, annuities, and long-term care combination products. The basis of the boot camp will be the authoritative textbooks, “Life Insurance and Modified Endowments Under IRC Sections 7702 and 7702A” and the “Annuities Answer Book.” Book authors will conduct these optional programs. September 13–14The general sessions will feature product, tax, legal and compliance experts as well as Internal Revenue Service (IRS) representatives. Recent changes in the qualification requirements of insurance products and a host of product tax issues beyond Internal Revenue Code (IRC) section 7702 and 7702A will be emphasized.