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: 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: 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: 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: 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: 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: Issued in 2004 with provisions effective in 2006-2009, the United States accounting standard, GASB 45, requires local and state governments to account for their post-retirement medical and life insurance programs on an accrual basis for the first time. This standard is creating new demands for actuarial services. This article is written for the experienced private sector post-retirement medical plan actuaries with a strong FAS 106 background who are now working on GASB 45 valuations. For these actuaries, there are many similarities between a FAS 106 valuation and a GASB 45 valuation, but there are also many differences.

Description: IFRS 17 is a significant change that requires insurers to invest time and resources. The presenters will address wider implications of the new standard, and a senior leaders' panel will cover a number of perspectives. They will address the latest developments of the standard and interpretations, emerging technology that is accelerating implementation, insights from implementing IFRS 17 in Canada and globally, reinsurance considerations and opportunities for the actuarial profession.