Description: The definition of simplified issue business developed by the Society of Actuaries and the Academy of Actuaries.

Description: LDTI requires that reinsurance recoverables be recognized in a manner consistent with the liabilities of underlying direct contracts. Consider implications of multiple ceded reinsurance contracts (e.g., coinsurance and YRT on the same business) and how this impacts the calculation of the net premium ratio (NPR) and other related approximations. Explore different options when only some of the policies within a cohort are reinsured. Multiple interpretations of the components of the NPR formula exist. Two main approaches will be presented-standalone and integrated approach. Other considerations to be discussed include implications of closed-block reinsurance transactions at transition and subsequent to transition, contra-DAC, market risk benefits. Finally, explore the short-duration YRT approximation (1/2 Cx) compared to the long-duration calculation.

Description: A summary article about the SOA Research Institute's participation in the summer 2024 NAIC national meeting in Chicago.

Description: Following recent market volatility and regulatory changes, market data and market-consistent economic scenarios are at the core of the valuation of liabilities and market risk benefits under regimes such as IFRS 17 and Long Duration Targeted Improvements. This webcast will explore options available to insurance companies to establish stable long-term volatility assumptions and discuss how the choice of financial data can impact the calibration and the simulation of credit spread scenarios.

Description: Have you ever struggled to make business decisions because your internal mortality studies lack credibility? Have you ever launched a new product or initiative and wanted to understand mortality risk before claims experience emerged? This session will discuss how predictive models can help actuaries enhance their traditional mortality studies with leading mortality leading indicators to be more nimble to market demands.

Description: Underwriting has continually evolved throughout the history of insurance. Technology advancements over time have opened, and will continue to open, new underwriting possibilities from both process automation and content standpoints.

Description: In the second quarter of 2022, publicly traded life insurers reported some of their best financial results since the pandemic began. COVID-19-related claims fell sharply in many product categories. Sales, which had taken a big hit, showed significant improvement as well, though not always to pre-pandemic levels. Sales activity was enough, however, for industry executives to report confidently in their quarterly conference calls that in this regard the worst consequences of the pandemic are over.

Description: The Society of Actuaries Research Institute (SOA) and LIMRA are soliciting surrender and lapse experience for individual Term and Whole Life policies for calendar years 2015 through 2022 to be used to complete a 2015-2022 Term and Whole Life Lapse and Surrender Experience Study (Study).

Description: This paper concerns policyholder dividends on traditional participating life insurance products in regulatory contexts similar to those in the United States and Canada. This paper also touches on annuity products. It was prepared for use in the educational curriculum of the Society of Actuaries. Dividend actuaries seeking references to writings on policyholder dividends to refresh their perspective may also find it useful.

Description: This report describes the main features of structured settlement annuities in North America and current actuarial practices and issues related to this product. It was prepared for use in the educational curriculum of the Society of Actuaries.