Description: This is a compilation or risk management terms garnered from a survey of risk professionals supplemented with analysis of firm-level information on significant risks as reported in 10-K financial statements. Results indicate the existence of significance differences in terminology. The dominating pattern observed is a dichotomy between internal and external perceptions. Also observed is a difference between terms used by actuarial professionals and traditional risk managers.

Description: Pension accounting standards continue to evolve across the globe with objectives, methods and assumptions varying, sometimes substantially, from one jurisdiction to the next. The presenters will compare the primary global pension accounting standards (US GAAP and IFRS), review recent developments and address whether or not the current standards adequately serve stakeholders such as plan participants, investors, management and regulators.

Description: Both LDTI and IFRS 17 have introduced numerous new metrics with most companies having only crossed the finish line, just complying with what's needed for reporting due the complexity and large amounts of data required to simply comply. How do you leverage all the work you did to get proper business insights across the organization that tie back to these reporting metrics?

Description: The session will focus on International Financial Reporting Standards 17 (IFRS17) implementation, including methodologies (classifications, different measurement models, fulfillment cash flows, and contract service margins) for various U.S. products, operational challenges, controls, IFRS17/GAAP comparisons and analytics.

Description: Is 2024 the year you need to implement U.S. GAAP Long-Duration Targeted Improvements for individual health insurance products? In this session, we will discuss implementation and the importance of working with accountants and IT to ensure a successful implementation. Some requirements will be a surprise to health actuaries.

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

Description: This article provides an update, as of October 2023, on Financial Reporting Section research projects in process and those recently completed.

Description: This article demonstrates that the alternative method of adjusting DAC amortization for actual experience fails to serve its purpose if amortization is based on amounts in force at the end of a reporting period. In that situation, the method would increase the amortization rate for excess terminations. Applying that increased rate to a lower basis, however, does not reliably reduce the unamortized DAC balance as required.

Description: Generally accepted accounting practices (GAAP) reporting frameworks are more involved than ever before. From disclosures, to assumption changes, to interest rate movements, uncovering the drivers of income emergence can prove hard to do, and even trickier to communicate. This session will revisit how the updated standards create layers of complexity and offer ways to side step these obstacles to generate useful earnings analysis by various drivers.

Description: This session will explore governance considerations for insurance carriers leveraging machine learning models. During the session, panelists will share insights on the evolving predictive model and AI regulatory landscape, as well as techniques for developing or enhancing AI governance frameworks that comply with emerging regulatory guidance.