Description: The main elements of the current US, Canadian and proposed Solvency II regulatory capital regimes for property and casualty insurance companies are compared in this paper.

Description: The Individual Life Insurance Valuation Mortality Task Force of the Society of Actuaries has completed a new Valuation Basic Mortality Table for individual life insurance. This was updated April 2005 - Age Last Birthday tables added. This zipped file will decompress into 6 documents 2 Microsoft Word documents and 4 Microsoft Excel spreadsheets. ?Final Report.doc ?Appendix A.doc ?Ratio.xls ?Female.xls ?Male.xls ?ALB.xls

Description: In the fourth quarter of 2022, publicly traded life insurers reported on their financial and operational activities, which included a downturn in income from alternative investments, the continuing impact of COVID, the impact of equity market returns on variable annuity products, and growth trends related to pension risk transfer transactions.

Description: Sales of index-linked annuities such as FIAs and RILAs have been setting new records while sales of traditional VAs have been declining. This webcast will survey the latest generation of FIA and RILA products, examining the impact of the current market environment and how the landscape is expected to change when the FED starts cutting interest rates.

Description: Improve your financial reporting knowledge with this SOA e-course. It will help you understand financial statements and regulatory capital requirements.

Description: The topics of ESG (Environmental, Social & Corporate Governance) and sustainability are an increasing area of focus for insurance companies, and thus actuaries. This webcast provides a primer on these topics along with considerations for US valuation actuaries and their evolution in European insurance markets.

Description: Adjusted earnings has long been a fundamental KPI for investors to assess the core financial performance of a company. As a non-GAAP measure, there is a divergence in practice of how individual companies define adjusted earnings and what activities management views as “core” to their business. The arrival of US GAAP LDTI has led insurers to revisit their existing adjusted earnings framework as the new standard introduces additional “accounting noise” that if left unadjusted obscures the true underlying drivers of performance. This article provides key insights on the influence US GAAP LDTI has had to the adjusted earnings calculation, highlights changes from the pre-LDTI framework, and showcases key themes observed from public insurers 2023Q1 10-Q filings.

Description: The introduction and effective application of US GAAP LDTI have increased the scrutiny of those reviewing the updated financial results. That is because LDTI has resulted in significant changes in actuarial reserving and deferred acquisition cost (DAC) models for long-duration contracts, including significant changes to data, assumptions and required disclosures. In light of the changes, greater reliance has been put on companies’ model risk management (MRM) teams and model validations to assess the conceptual soundness and accuracy of their companies’ actuarial models and to assess that the underlying data and process utilized are suitable and appropriate. This article covers a brief background on model validation, walk through a sample LDTI-focused model validation framework/test plan, then provide insights on common LDTI-related validation observations based on the authors' prior validation experience.

Description: Proposal to the NAIC and state regulators to recalibrate life insurance reserve and capital standards to ensure the life industry successfully withstands the historical low interest rate environment.

Description: Health insurance company assets and liabilities have evolved since the Patient Protection and Affordable Care Act (ACA) was signed into law in March 2010. The ACA fundamentally rearranged how commercial health insurance is funded by integrating federal premium subsidies and pass-throughs together with a marketplace interwoven with transfer payments among stakeholders. The impacts of these programs can be seen in specific accounting items on the balance sheets of health insurance companies over the past 10 years. Their emergence follows three primary trends: (1) balance sheet items tend to be larger and take longer to settle, (2) there are more interactions among items, and (3) the final settlement amounts are more uncertain.