Description: Risk adjustment is needed under IFRS 17 to reflect the compensation that a company requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk. Companies are also required to disclose the method and confidence level used for the calculation of the RA. However, IFRS 17 doesn’t specify a method and a confidence level, nor does it provide a list of specific risks that are considered to be non-financial risk. Companies need to define them based on their own preferences or existing practices. This article will introduce available approaches and discuss the confidence level approach with potential consideration stemming from industry preferences and illustrative examples.

Description: The Valuation Actuary (ValAct) Meetings empower actuaries across all practice areas for success with in-depth content on the latest valuation and financial reporting concepts. ValAct content is tailored for professionals specializing in valuation actuarial practices within the insurance and financial industries.

Description: Value of new business (VNB) is being used by many companies for various purposes including: internal and external financial reporting, incentive compensation, pricing, capital management, and comparing products, distribution channels or regions on a consistent basis. Presenters will discuss how and why value of new business is used within their companies including: the various methodologies considered, some of the benefits and challenges related to implementing VNB, integrating VNB within their business as usual processes, and managing to VNB.

Description: "Asset-intensive reinsurance has become a focal point of actuarial, administrative and regulatory consideration in recent years. This session will walk through a real-world reinsurance case study of an illustrative transaction - from the initial actuarial due diligence process of the cedant's subject business through onboarding and integrating that business into the reinsurer's platform. Topics will include actuarial due diligence, experience studies and assumption setting, model validation, model development and onboarding of the subject business. The session aims to provide a variety of insights into this process across different business units and functions. By the end of the session, attendees will have a firm understanding of key transaction-related topics within the context of a real-world example."

Description: By attending the session, you will learn: - Different perspectives around what FP&A is used for (e.g., strategic planning, performance measurement, management compensation, liquidity management, etc.) and why - Challenges leaders have faced and how they are being addressing - How recent regulatory, accounting, and technological change has impacted the FP&A function - Objectives for various organizations around both new analytics for business management, efficient production of forecast results, and potential for faster 'top down' forecasting

Description: Sustainable operations under changes in accounting principles and solvency standards

Description: Description of the mathematics involved when looking at low probability events within a company from the perspective of the C-Suite. The accumulation of small probability events leads to a much higher probability of at least one of them happening in a given period.

Description: Discussion of potential volatility to non-participating long-duration traditional contract reserves under US GAAP targeted improvements to accounting for long-duration insurance contracts. Discusses the impact of revising assumptions as well as interaction of revising assumptions with changes to discount rates.

Description: Session Categories for 2025 ValAct

Description: "Most patients enter the health care system through their primary care provider or through the Emergency Room or an Urgent Care Center. How an emergency room is structured, managed, and provides care is one of the major forces impacting the total cost of care. Yet it is often an after-thought and ignored by both health plans and health systems. In reality, the structured introduction of efficient practices can substantially reduce the quantity and cost of health care services. Further explore useful information to better understand and see how there are still substantial opportunities for improvement."