Description: Discussion of variable universal life secondary guarantees: product features, pricing issues and reserving issues

Description: This article warns product actuaries about arbitrage schemes using charities that might adversely affect mortality experience.

Description: Encourages readers to visit specified URL to read selected essays from “Life Insurance 2020 Foresight—A Call For Essays.

Description: New chairperson’s column discussing his goals for the Product Development Section.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: This article is an update, as of March 2019, on Financial Reporting Section sponsored projects in process and those recently completed.

Description: This article summarizes the key changes to VM-31 requirements in the 2020 version of the Valuation Manual for both life and variable annuities, and compares and contrasts the requirements for each. In addition, the article offers insights into common issues and recommendations for VM-31 reports from the viewpoints of a regulator, consultant, and company actuary.

Description: A historical perspective on the Japanese life insurance industry and the significant changes it was expected to undergo.

Description: Describes a new tax approach in Ireland and the interest it is attracting.

Description: In this article, the author talks about the Brazilian life insurance and annuity markets.