Description: Regulators observed a wide range of practice from early adopters of PBR in regard to the treatment of non-guaranteed reinsurance and adopted a formulaic solution on an interim basis for the 2020 Valuation Manual. A field test, supplemented with additional analysis performed using a model-office approach with representative models, is being performed over the first half of 2020 to inform regulators as they select a longer-term solution. This session will provide an update on this important issue as well as perspectives on how the resolution of this issue was approached and lessons learned for the future from those intimately involved in this work.

Description: Doing Illustration Actuary Testing over the Life of a Policy

Description: Read the June 2020 issue of Small Talk published by the Smaller Insurance Company Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Read the Quo Vadis Reinsurance.

Description: This article summarizes five key lessons we have learned in implementing LDTI and shares our insights on practical ways to address them. This is not an exhaustive list of implementation challenges, but companies that can successfully tackle the issues we describe should have a smoother data and systems implementation transition.

Description: Read the April 2019 issue of Product Matters! published by the Product Development Section.

Description: This article begins with a brief review of the treatment of QAB charges under the Code and the guidance the Internal Revenue Service the “Service” has issued regarding the manner in which taxpayers should account for QAB charges Part I. It then describes Rev. Rul. 2005-6’s three alternatives for addressing improper accounting for QAB charges Part II. It also includes a discussion about an Alternative C closing agreement.

Description: Articles on IRS private letter rulings on combination products, IRS treatment of reinsurance under section 845, and IRS waivers for failed contracts under section 7702.

Description: Tidbits include discussions about: Policy loans in excess of cost basis, treatment of loss adjustment expenses, LAE, for life insurance companies, and separate account investments in group trusts.

Description: As stochastic modeling has evolved, it has divided down two paths—real-world and risk-neutral. This article discusses this division and shows how these paths may be re-united through the use of deflators.