Description: As the size of the life reinsurance market in Bermuda has grown to over half a trillion dollars at the end of 2021, more and more actuaries are getting involved with this 21 square mile North Atlantic island in one way or the other. Come explore a fundamental understanding of the Bermuda solvency framework and an overview of its upcoming changes.

Description: In this session, presenters will share the impacts of transition to IFRS 17 on equity and various KPIs across insurance companies (Life & P&C), as well as share some observations of what the IFRS 17 landscape looks like across different global regions. The session will conclude with lessons learned and expectations for emerging practices under IFRS 17 globally.

Description: Learn about the innovations of life & health products and distribution in the Asia market.

Description: "Risk Management starts with identifying, quantifying, and then monitoring the key risks a company is exposed to. From a life company perspective the key risks are investment returns, expenses, and mortality. IFRS17 allows quantifying and measuring those key risks by building expectations, as in the initial recognition, and monitoring the actual outcomes achieved, as in subsequent measurement. Risk can be measured, monitored, and corrective action taken by allowing the experience to emerge and be compared to our initial estimates. Comparing initial vs. subsequent figures allows the company to identify whether it had a profitable quarter or not. For a profitable quarter, it makes sense to release profit from the CSM and RA accounts. For a non-profitable quarter, it makes sense to build up funds in the RA account from CSM funds so that no profit is released. In this case, the release from the CSM exactly matches the buildup of RA_release, as no funds are released to shareholders. Two examples of subsequent measurement scenarios will be given along with their initial Recognition figures: one exceeding IR figures and the other losing to IR figures. We will see how to manage risk by controlling the release of shareholder funds. Comparing actual vs. expected figures allows us to do this. We will also see how this affects the Embedded Value and Value of In-force business. Key Learning Outcomes: 1. Given the Initial recognition figures, compute profitability and required releases of the risk adjustment RA and CSM accounts. 2. Calculate subsequent measurement figures for SR_RA, SR_CSM, and Value of in-force business."

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: This webcast compares and contrasts four key regulatory capital regimes for life insurers around the world: Risk-Based Capital (RBC) in the United States, Life Insurer Capital Adequacy Test (LICAT) in Canada, Solvency II in the European Union and the Bermuda Insurance Solvency (BIS) Framework in Bermuda.

Description: This session will showcase how from an actuarial perspective IFRS17 has its roots in market consistent valuations. It will also show how International Financial Reporting Standard (IFRS) 17 is rooted in probability-weighted stochastic scenarios-same as fair valuation, and how initial recognition sets the stage, as in the pricing basis and report, for actual experience to emerge as in the subsequent recognition. A detailed model will be given for a simple annual premium non-par endowment and actual numbers given and explained. The stochastic model will explain in detail the key reserve items in IFRS 17 including: - Liability for remaining coverage (LRC) - Risk Adjustment (RA) - Contractual Service Margin (CSM) And it will explain their interactions with one another. A discussion will be held regarding universal life policies with simple interest guarantees. And how these guarantees merit a valuation similar to Lookback options because of their path-dependent nature.

Description: MSA Research established a committee in 2024, to build industry-standard Key Performance Indicators (KPIs) for IFRS 17. The committee was comprised of insurers, reinsurers, audit and consulting firms, professional associations, trade organizations, technology partners, and regulators.