Description: Canterbury Tales of Fair Value Fair Value of Life Insurance Seminar—March 1999 by Mike McLaughlin & Joan Lamm-Tennant, Ph.D. from The Financial Reporter, October 1999, Issue No. 40.

Description: This SOA report identifies methodologies currently in use by life insurers as well as potential new strategies to manage balance sheet and income volatility risk associated with fair value and related accounting

Description: This article discusses the risk management approaches of insurers. The author described some of the current practices of the total return approach, how the total return approach is used in managing risks as a process, and a model that takes future sales into consideration and determines the appropriate fair valuation method of an ongoing business.

Description: This paper attempts to advance practice and methodology with respect to life insurance company valuation. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: Article discussing recent developments in financial reporting research by the Section: 3 new PBA projects, stochastic pricing of embedded options, and comparison of results under IFRS and GAAP.

Description: A summary of a scientific paper written to address the differences and similarities between the option pricing method now more commonly known as fair valuation and the actuarial appraisal method.

Description: In this article, we collected data from the companies’ roll-forward disclosures related to calendar years 2021 and 2022 on Market Risk Benefit and shared a high-level summary of the Market Risk Benefit volatility that a focus group of companies incurred and summarized the most common ways to mitigate volatility.

Description: Risk management techniques such as stress testing and setting capital targets are fairly well established for life insurers; however, the implementation of these techniques can vary considerably. A fundamental question is how to manage multiple valuation perspectives, and the list of possibilities keeps growing. Companies can potentially consider some or all of the following: U.S. reporting measures (Stat, GAAP), internal measures (EV, VNB, economic capital), international reporting measures (IFRS), rating agency models or other developing standards (ICS, NAIC group capital). This session will begin with a quick overview of the defining characteristics of different valuation frameworks. We will then provide more focused and practical considerations for managing risk and capital under different frameworks, using specific examples to highlight key trade offs.

Description: Article discussing the International Actuarial Association's meeting in November 2008.