Description: This report examines options for analyzing periodic changes in VM-20 reserve amounts.

Description: The September 2014 Issue of the Financial Reporting Section's newsletter, The Financial Reporter

Description: Update of principle-based reserves for life insurance

Description: This research report is the result of a second phase examination of the impact of VM-20 on life insurance product development.

Description: Recently, joint teams of SOA and American Academy of Actuaries (AAA) volunteers have been busy on several such projects, including individual annuity mortality basic, individual annuity reserve, valuation basic table, preneed insurance, and more. This article provides a summary of their work.

Description: Twelve companies field tested the proposed principle-based valuation manual for four different product lines: term life, universal life, whole life and deferred annuity. This report compares the reserves and C3 capital amounts under PBA versus current formulaic standard and discusses practical aspects in applying the proposed methodology.

Description: Results of a company practice survey is presented. Among the areas to be addressed include the structure of accelerated underwriting programs, how programs are monitored, how accelerated underwritten business is performing relative to expectations, and how companies are considering accelerated underwriting cohorts in the context of VM-20 assumption setting.

Description: Companies can implement VM-20 as early as 2017. While there have been research and educational materials produced to help actuaries and others better understand the implications and implementation of the new requirements from a financial reporting perspective, little has been developed emphasizing the product development actuary perspective. This SOA research project examines the impact of VM-20 from a product development actuarial perspective. The research will help actuaries and others enhance current practices to optimize pricing and product development activities within a VM-20 framework as well as enhance intracompany communication and efficiencies related to VM-20. This session is a follow-up to the session at last year’s symposium and will focus on Phase 2 of the research project.

Description: The NAIC calendar for 2008 is well underway. An overview of recent activity within certain aspects of the groups associated with the evolution of the Valuation Manual is presented here.

Description: Article discussing developments in Principle-Based Approach: net asset earned rates and discount rates, and net premium approach.