Description: This panel discussion will focus on how companies have been able to take advantage of the new US GAAP requirements, to develop and refine other performance indicators that provide additional insights into their business.

Description: Most insurers operate in a multi-GAAP world: Many U.S. insurers are regulated on a statutory/risk-basec capital (RBC) basis, report to markets under U.S. GAAP, pay taxes on a tax basis of accounting, and manage their business internally on an economic or other basis. In addition, many have overseas entities exposed to even more reporting bases. Reporting requirements are ever increasing and convergence of frameworks is not a reality in most parts of the world.Learn about a multi-GAAP framework to gain a bottom-up understanding of the differences in reserves and other balance sheet and income statement line items across reporting bases, both now and for future projections/plans. Using such an approach enhances insight into the valuation of the business, removes inconsistencies and results in operational efficiencies in the valuation process. At the conclusion of the session, you will learn technical concepts behind the Multi-GAAP framework and some practical ways to design and implement it.

Description: Statutory and GAAP metrics are useful for regulators, investors, and other external parties who require a consistent basis for viewing snapshots of companies at a point in time, however, their uses are more limited for managers who are tasked with making strategic decisions. Many insurers are turning to internally developed metrics such as value of new business (VNB) for better profitability insights at the point of sale and to understand how new business profitability changes over time. By leveraging existing models and reporting processes, insurers can reduce the additional effort involved, applying VNB toward applications such as pricing, capital allocation, and risk management. Discuss key considerations for developing and using VNB. Begin with a brief overview of VNB, including how VNB addresses specific shortcomings of Stat and GAAP. Next, discuss applications of VNB for life and annuity business and conclude with some implementation case studies.

Description: Under U.S. GAAP long-duration targeted improvements (LDTI), some non-VA annuity products contain features scoped in as 'market risk benefits' (MRBs), which are required to be measured at fair value. For U.S. insurers, the question becomes 'How does the emerging principle-based reserving framework for non-variable annuities compare to the fair value framework for MRBs under LDTI?' See a comparison between these two new measurement models, highlighting some of the key considerations due to the added complexity of these calculations, to help companies strategically plan for their future state.

Description: While a rising sea helps all ships, the insurance industry is a ship that hasn't seen much water in the past decade. Examine valuation and product management considerations in a high interest rate environment

Description: Are you a health actuary affected by recent developments in business practices and accounting standards that have created situations in which you may be involved in estimating balances under accounting rules that differ from those typically used by insurers? In this session you will learn about situations where non-insurance accounting regimes may intersect actuarial practice, with an intended focus on two particular topics.

Description: A panel of actuaries and investment experts share their experience with the AG53 requirements for Asset Adequacy Testing. They will discuss challenging areas in the inaugural year of the consideration of complex assets as well as discuss potential areas of future regulatory expectations.

Description: Actuarial projects have become more intricate, involving external resources and requests beyond the actuarial team's purview. Whether a task appears minor or exceptionally complex, adept project and change management play a pivotal role in successful execution. In this session, we explore practical strategies for tailoring implementation management approaches.

Description: The Smaller Insurance Company/Chief Actuary Forum presents a unique format for focusing on issues faced by actuaries in leadership positions or actuaries supporting the Chief Actuary. By discussing critical issues with your peers, you will leave with ideas to incorporate in your business environment. The Forum will feature presentations to introduce several of the discussion topics, followed by an opportunity to break into smaller discussion groups and rotate among topics.

Description: Learn from panelists from different companies as they come together to discuss their experiences.