Description: With higher interest rates and aging populations, the Bermuda offshore reinsurance market has been heating up, particularly to firms backed by asset management firms and private equity. Increased competition along with changing regulatory requirements, and evolving expectations around model governance have actuaries facing heavier production and results explanation workloads. This creates additional challenges on top of an already complex Bermuda reporting regime, particularly with the Scenarios-Based Approach (SBA) and Bermuda Solvency Capital Requirement (BSCR).

Description: FASB published LTDI requirements in 2018. The effective date for insurers who are SEC filers to publish US GAAP financials under LDTI is January 1, 2023. The effective date for non-public insurers is January 1, 2025. LDTI requires insurers to identify a new category of benefits called market risk benefits (MRBs) in insurance products. Broadly, variable annuity (VA) and fixed indexed annuity (FIA) guaranteed minimum death, accumulation, withdrawal, and income benefits fall under MRBs. Valuing MRBs requires calculating the liability on a fair value basis. Valuing FIA MRBs on a fair value basis can be complicated as several aspects of FIAs such as option budgets and policyholder behavior are driven by company management decisions and the competitive landscape.

Description: Attend this webcast to learn more on how to navigate managing ESG principles in the new normal of a post-COVID world. Enhance your ESG insights in a post-pandemic landscape.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: As VM-22 becomes the new standard for statutory valuation of non-variable annuities, insurers must navigate a range of implementation challenges and strategic considerations. This session will provide attendees with a comprehensive roadmap for preparing for VM-22, addressing critical questions that will shape a successful transition: What are the key considerations when deciding between early adoption and waiting until the end of the transition period? How will reserve levels shift under the new framework, and what strategies can help mitigate financial volatility? What models, tools, and analyses are needed not only to comply but also to interpret results, manage risks, and help leadership gain confidence in the results?

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: This panel discussion dives into the NAIC's new principles-based reserving (PBR) requirements for fixed annuities (VM-22) set to be effective January 1, 2026. After a brief overview of the VM-22, this session will focus on practical implementation considerations and adapting cash flow models to the new requirements, tackling sensitivity runs, margin testing, the Stochastic Exclusion Test, and mapping prescribed assumptions for the Standard Projection Amount (SPA) to companies' unique products and features.