Description: The rapid and persistent rise in rates has increased many insurer's concerns around liquidity, disintermediation, and overall ALM risk management. Learn an overview of ALM, including the goals and reasons for performing it, common approaches, and real-world examples of common pit falls and mistakes that have been made in the industry. Explore the differences in approaches, and the pros and cons of these various approaches.Learn about the importance of understanding the ALM approach, with clearly defined strategic objectives. Additionally,discover an understanding of the value to both managing risk and optimizing enterprise value. Come away with a deep appreciation for the value that a well-constructed ALM program can bring to valuation/capital planning/asset adequacy testing/pricing (life and annuity).

Description: Modeling Approaches and Challenges focuses on approaches to real world simulation and the challenges and considerations in real world simulation. Topics include: A frequency domain approach to build realistic multi-horizon scenarios. (Ortec approach) Cascade models structure linking models for major asset classes and economic variables. (Moody’s approach) Overview of models, calibrations & approaches within the context of different use cases. Deterministic & stochastic approaches. Importance of model re-calibration flexibility. We will also discuss specific insights into considerations and challenges in real world simulation, which include topics like: Setting capital market assumptions and/or calibration targets. Assumptions about correlation and causality. Calibrating the model to capital markets assumptions. Validating the model against capital market assumptions. Role of history, market data and stylized facts. Importance of back testing. Calibrating the model to multiple investment horizons. Inclusion of alterative asset classes such as private equity, infrastructure, and direct real estate. Associated issues of limited data, illiquidity and greater uncertainty about calibration targets.

Description: Examine how investment portfolios have been changing over recent years with a panel of industry experts from the life insurance industry, and learn what lies ahead. This will be a highly practical session, with real-life case studies referenced as much as possible.

Description: This session will address the risk management, reserving and capital issues associated with index-linked annuities including financial reporting considerations for FIAs and RILAs, benefits of combining VA and RILA hedging and reserving under VM-21, current and future challenges with FIA reserving under VM-22, potential capital redundancy for FIAs, RILA interim values under AG 54, NAIC economic scenario reform, asset modeling, fund mapping and more!

Description: As companies strive to remain competitive in today's dynamic marketplace, the role of Financial Planning & Analysis (FP&A) has evolved significantly. It has transitioned from a purely operational function to a strategic imperative. This is most apparent in the life insurance sector, where complex regulatory changes and technological advancements are reshaping traditional practices. In this session, we will delve into the critical aspects of modernizing FP&A within the life insurance industry, exploring key challenges, emerging trends, and best practices. Key areas of discussion include: - Navigating Different Regulatory Frameworks: Companies have to navigate different regulatory lenses for various purposes including budgeting, capital management, rating agencies review, etc. The implementation of regulatory frameworks such as IFRS 17, LDTI, and Principles-Based Reserves (PBR), and the recent trend in establishing Bermuda entities has significant implications for financial reporting and capital management in the life insurance sector. We will discuss how companies can explore strategies for compliance and adaptation within the FP&A process. - Strategic Planning and Resource Allocation: Companies are faced with higher expectations to guide both internal and external parties on the financial impact of their plans. A comprehensive exploration enabled by advanced analytics is critical for communicating, prioritizing, and allocating a company's resources on transactions, product development, and capital management. Our panel will explore how strategic planning has advanced in recent years, providing insights into effective approaches for aligning strategic objectives with financial resources. - Technological Advancements: The rapid pace of technological innovation has opened new possibilities for FP&A, offering advanced modeling techniques and data analytics capabilities. However, many organizations face challenges in harnessing these technologies effectively. This session will examine the role of technology in modernizing FP&A and highlight best practices for implementation. By attending this session, participants will gain: - Strategies for aligning strategic planning with resource allocation and effectively communicating financial impacts to internal and external stakeholders. - An understanding of the current state of FP&A within the life insurance industry, including emerging trends and challenges. - Insight into the implications of regulatory and technological advancements on FP&A processes and functions. - Best practices for leveraging technology to enhance FP&A capabilities and drive strategic decision-making.