Description: The Valuation Actuary (ValAct) Meetings empower actuaries across all practice areas for success with in-depth content on the latest valuation and financial reporting concepts. ValAct content is tailored for professionals specializing in valuation actuarial practices within the insurance and financial industries.

Description: This study is an update of a 2015 study that illustrates the differences that occur when measurement is made under different accounting bases. The observations come from research performed on two products (term life insurance and universal life insurance with secondary guarantees.

Description: Emerging Applications of ESG Methods offers ground-up insights on cutting edge applications of economic scenario generation. The course will focus on the incorporation of climate change risk in scenario modeling and investment applications of ESGs. The following topics will be covered: Approaches to climate risk modeling. Climate risk is very different than classical financial economic risk. Radical uncertainty is amenable to scenario analysis and lack of data. Building special deterministic scenarios that go beyond NGFS requirements as well as bespoke scenarios. Holistic Approach to Climate Risk Modeling. Overview of different Climate Risk Modeling Applications. Use of ESG scenarios for Strategic Asset Allocation (SAA). Liquidity risk management.

Description: Both LDTI and IFRS 17 have introduced numerous new metrics with most companies having only crossed the finish line, just complying with what's needed for reporting due the complexity and large amounts of data required to simply comply. How do you leverage all the work you did to get proper business insights across the organization that tie back to these reporting metrics?

Description: The session will focus on International Financial Reporting Standards 17 (IFRS17) implementation, including methodologies (classifications, different measurement models, fulfillment cash flows, and contract service margins) for various U.S. products, operational challenges, controls, IFRS17/GAAP comparisons and analytics.

Description: Is 2024 the year you need to implement U.S. GAAP Long-Duration Targeted Improvements for individual health insurance products? In this session, we will discuss implementation and the importance of working with accountants and IT to ensure a successful implementation. Some requirements will be a surprise to health actuaries.

Description: In recent years, there has been a significant increase in life and annuity business transactions transferring blocks of business across jurisdictions. These transactions raise important questions for stakeholders-including policyholders, regulators, rating agencies, investors, and companies themselves-about the drivers of financial results under different regulatory and accounting regimes.As financial reporting frameworks grow more complex-whether US Statutory, IFRS 17, US GAAP, or Solvency II-stakeholders are demanding deeper insights into how results are determined and how they compare across jurisdictions. Understanding these differences is critical for assessing financial performance, capital strength, and risk exposures, particularly in a cross-border context.To address this need, many companies are developing and applying bridging analyses-such as waterfall analyses, step-by-step reconciliations, and other frameworks-to explain how and why results differ between reporting bases. These approaches help clarify key drivers and provide transparency to stakeholders.In this session, representatives from leading companies will share practical approaches they use to bridge these gaps, offering insights into the methodologies and analyses that have proven most effective in navigating cross-jurisdiction financial reporting challenges. Attendees will gain a clearer understanding of cross-jurisdiction reporting differences and take away ideas for applying effective bridging techniques within their own organizations.

Description: "Asset-intensive reinsurance has become a focal point of actuarial, administrative and regulatory consideration in recent years. This session will walk through a real-world reinsurance case study of an illustrative transaction - from the initial actuarial due diligence process of the cedant's subject business through onboarding and integrating that business into the reinsurer's platform. Topics will include actuarial due diligence, experience studies and assumption setting, model validation, model development and onboarding of the subject business. The session aims to provide a variety of insights into this process across different business units and functions. By the end of the session, attendees will have a firm understanding of key transaction-related topics within the context of a real-world example."

Description: This 60-minute panel discussion led by Academy volunteers will explore the treatment of reinsurance under the Valuation Manual's principles-based reserving (PBR) requirements for life insurance (VM-20). Panelists will discuss different reinsurance agreements, such as coinsurance, modified coinsurance, guaranteed and non-guaranteed yearly renewable term (YRT), stop-loss reinsurance, and financial reinsurance. The session aims to address practical reinsurance considerations for PBR in 2025, focusing on emerging issues such as reinsurance reserve credit and approaches for YRT reinsurance, and considering relevant ASOPs and updates to Practice Notes. Participants will gain insight into how different reinsurance structures affect VM-20 reserving.

Description: ALM and hedging can reap significant benefits from innovation in computation and operations research. Explore applications of static and dynamic optimization in two different ALM and hedging use cases. Insurers are increasingly moving offshore by establishing Bermuda captive reinsurers. In calculating the Bermuda Best Estimate Liability ('BEL'), reinsurers will need to segment assets to support liabilities in each treaty. A Linear Programming ('LP') problem can be formulated to tactically select assets in a way that minimizes the BEL and consequently the total asset requirement. Learn more about what US Variable Annuity Insurers face with the regulatory requirement to reflect 'future hedging strategy' in their statutory funding calculation. The traditional numerical method of finding the optimal hedging target and then allocating assets may encounter the curse of dimensionality with expanding product and economic environment complexity. A Reinforcement Learning algorithm may well fit this problem and provide insurers a solution for dynamic hedging.