Description: Discussion of NAIC efforts to amend the annuity nonforfeiture laws to respond to falling interest rates.

Description: Summary of the Life and Health Actuarial Task Force Meeting held in September, 2003

Description: This article reports the maximum statutory valuation and nonforfeiture interest rates for calendar year 2004 issues of life insurance products and the maximum statutory valuation interest rates for calendar year 2003 issues of annuity products.

Description: discussion of March 2009 NAIC/LHATF meeting

Description: Pricing longevity swap reinsurance transactions consists of a number of different actuarial tasks, each of which hides potential pitfalls. The article outlines the pricing process, which includes a detailed analysis of current mortality experience of the portfolio to be transferred, choice and calibration of an appropriate model for mortality improvement trends and the calculation of a risk margin which reflects the uncertainty associated with the pricing best-estimate, which includes mis-estimation risk, model risk, longevity basis risk and stochastic uncertainty.

Description: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

Description: This study was sponsored by the Society of Actuaries Health Section. This paper explores the relative significance of aging as a determinant of financial cost of health care beyond age 50, with particular attention to the effect for ages 65 and older. The paper presents concepts of aging factors and aging curves, which define relative values between ages for utilization or cost of health care services. General conclusions are drawn from Medicare data that utilization and cost differ by age, but that aging factors vary across services and may be less significant at very old ages. The author then turns to the question of measuring the significance of an aging curve assumption and what accuracy is lost in the simpler alternative of a single value across an age range.

Description: Describes actuarial approaches used to quantify the benefit to employers of implementing financial wellness programs for their employees.

Description: The Financial Accounting Standards Board (FASB) met on May 21,2015 to discuss it ongoing project to make targeted improvements to accounting for long-duration insurance contracts. This article discusses those improvements and their ramifications.

Description: Review of modeling of impact of proposed GAAP changes and commentary on preparedness based on company survey.