Description: Companies exempt from PBR can benefit by borrowing ideas and lessons learned from companies that perform and operate in a PBR world. The presenters will discuss VM requirements related to governance policies, as well as assumption and margin setting, plus model validations and controls which can benefit smaller insurance companies. Attendees will learn about new actuarial practices and how the PBR methodology and Valuation Manual can influence their work and highlight available resources.

Description: This session will provide an update on international implications of current tax developments affecting the life insurance industry, including: International add-on taxes from the Tax Cuts and Jobs Act (TCJA) Base Erosion Anti-Abuse Tax (BEAT) and impacts on offshore reinsurance An overview of the Global Intangible Low-Taxed Income (GILTI) tax Legislative activities impacting company taxation

Description: With the halfway point of the transition period in the rear view mirror, many companies are well underway with their VM-20 implementation and analysis efforts. Beyond attempting to master the new rules of the road, actuaries have discovered new effects of product design and assumption setting. Panelists in this session will discuss their experiences with VM-20 reserves for various products and designs, their applications of actuarial judgement and the areas where even they don’t have all the answers. The audience is encouraged to bring their questions and also to share their insights.

Description: The American Academy of Actuaries will present on current initiatives that impact the U.S. statutory reserving methodology for non-variable annuity contracts. In particular, the development of a principle-based reserving framework on non-variable annuity contracts will be discussed, including framework elements, assumptions, and methodology. The session will provide an update on the status of regulatory discussions and the timeline for future changes to reserves. By the end of the session, attendees will understand what changes are being made to non-variable annuity reserves, details underlying existing proposals, and the anticipated timing of such emerging changes. This session is intended to the meet the needs of actuaries focused on annuity reserve calculations, financial reporting, and valuation.

Description: To Admit Or Not To Admit — Is That The Question? by Kenneth W. Faig, Jr. from The Financial Reporter, March 2001, Issue No. 45.

Description: Summarizes the efforts to complete the Valuation Manual by March 2010, for the NAIC's March meeting.

Description: A description of the Financial Reporting Section's priorities for 2016.

Description: Summary of the SOA's research report Modern Deterministic Scenarios for Interest Rates, which developed interest rate scenarios for use in cash flow testing.

Description: Update from the ACLI about its continued contact with Treasury relating to AG VACARVM and Life PBR.

Description: Discusses how companies must ensure that significant and necessary product development, and administrative and compliance system changes, have been completed and tested in time to accommodate new requirements.