Financial Reporting Research
2023
Rating Agency Perspectives on Insurance Company Capital
This study investigates and documents the approach rating agencies take to assessing insurance companies’ capital.
Credit Insurance Disability Experience Study
The project updates the 2014 experience study. This study was undertaken to ensure the ongoing adequacy of the modified 1985 CIDA table as specified in Valuation Manual Section VM-26 for single premium credit disability insurance. In addition, the shift in the distribution of sales by term between contracts issued in previous study periods to 2017 and 2021 was analyzed.
2022
Mortality Improvement Trend Analysis
Using proprietary U.S. census data, this research examines the key drivers of mortality improvement and how they vary.
Cause of Death Mortality by Socioeconomic Category in the United States
This study seeks to identify the particular causes of death contributing to the growing disadvantage in mortality between the least and most affluent U.S. populations.
2015-2018 Group Annuity Mortality Experience Report
A mortality study of insurance company annuity experience under group pension contracts issued primarily in the United States for the years 2015 – 2018. This mortality study was performed by the Group Annuity Experience Committee of the Society of Actuaries.
2021
Obesity Trends and the Impact on Morbidity and Mortality Costs
This report examines the latest trends in obesity and an estimate of the impact of obesity on mortality and morbidity costs in the U.S. and Canada.
14th Annual Survey of Emerging Risks Key Findings
This report summarizes the major findings from the 14th Annual Survey of Emerging Risks.
2020
Mortality By Socioeconomic Category
This research report presents mortality analysis and rate estimates for the United States by year from 1999 through 2018, separately by socioeconomic quintile and decile.
Principle-Based Reserves Simplified Methods
The Society of Actuaries Smaller Insurance Company Section, the Financial Reporting Section, and the Committee on Life Insurance Research are pleased to make available new research investigating simplified methods for determining reserves under VM-20.
Real Time Delphi Study of Four Economic Variables
Read our new and improved version of the 2005 SOA Delphi study of four economic variables. The research acquaints actuaries with the application of futures methods that could supplement traditional actuarial forecasting practices.
2019
Application of Credibility Theory in the Canadian Life Insurance Industry
The Society of Actuaries’ Product Development Section, Financial Reporting Section, Committee on Life Insurance Research and the Canadian Institute of Actuaries announce the release of a new Application of Credibility Theory in the Canadian Life Insurance Industry research report.
A Machine Learning Approach to Incorporating Industry Mortality Table Features into a Company’s Insured Mortality Analysis
The Product Development Section, the Modeling Section, the Reinsurance Section and the Financial Reporting Section announce the release of a new research report that introduces a novel framework for leveraging the “architecture” of an industry mortality table within a company’s predictive analytics-based insured mortality analysis.
The Use of Predictive Analytics in the Canadian Life Insurance Industry
The Canadian Institute of Actuaries and Society of Actuaries Committee on Life Insurance Research, the Product Development Section and the Financial Reporting Section, sponsored this study investigating how the Canadian life insurance industry is utilizing predictive modelling.
Modeling and Forecasting Cause-of-Death Mortality
The Product Development Section, the Financial Reporting Section, the Modeling Section and the Committee on Life Insurance Research are pleased to present new research on modeling and forecasting cause-of-death mortality.
2018
Earnings Emergence Insurance Accounting Under Multiple Financial Reporting
This new report examines differences in measurement and presentation under various insurance accounting bases.
Survey of Waiver of Premium/Monthly Deduction Rider Assumptions and Experience
This paper summarizes the results of a survey of waiver of premium/monthly deduction rider assumptions and experience.
2017
Modern Deterministic Scenarios for Interest Rates
The study provides practical tools to assist actuaries in computing interest rates scenario sets that might collectively be considered moderately adverse.
Understanding VM-20 Results
This report examines options for analyzing periodic changes in VM-20 reserve amounts.
Actuarial Model Governance: A Survey of Actuarial Modeling Governance and the Industry Evolution Report
This study is an update of an initial 2012 study examining the current state of actuarial modeling controls within U. S. and Canadian life insurance and annuity companies.
2016
Nested Stochastic Modeling for Insurance Companies
A company survey on the use of nested stochastic modeling and an analysis of ways to reduce run time and improve the efficiency of nested simulations.
PBA Implementation Guide
This research report provides a better understanding of the key considerations an insurer would encounter in making a principle-based framework for determining reserves and risk-based capital (PBA) a reality.
Optimizing Risk Retention
This research paper outlines a method of deriving assumptions for modern reserving and solvency capital requirements from a company's own data which can be utilized to measure the impact of reinsurance on reserves and capital of a life insurer.
Predictive Analytics Essays
These articles provide examples of how actuaries are using predictive modeling in practice.
2015
Transition to a High Interest Rate Environment: Preparing for Uncertainty
This report focuses on the impact of interest rate volatility on life insurance and annuity products.
Earnings Emergence: Insurance Accounting under Multiple Financial Reporting Bases
This report provides illustrative examples of how various accounting regimes apply to a range of insurance contracts.
Report on 2014 VBT/CSO Impact Study: Considerations for Life Insurance Products
This report is on the implications of 2014 VBT/2017 CSO Impact Study.
Extreme Events for Insurers: Correlation, Models and Mitigation Study
This paper covers the complete cycle of extreme event risk management, from identifying experience data sources, to extreme event detection, to modeling and dependence analysis and finally to monitoring and mitigation.