Description: This article analyzes, understands, and discusses the impact of the upcoming Principle-Based Reserving (PBR) on non-variable deferred annuities.

Description: This article highlights some key implications for reinsurance contract held and loss-recovery component IFRS 17.

Description: Life and annuity markets around the world have seen increasingly complex investment-combined products, including universal life, fixed indexed annuities, variable annuities with a wide variety of guaranteed benefits and indexed variable annuities. Insurance companies are facing unprecedented exposure to financial risks in addition to traditional mortality and longevity risks. The risk assessment and modeling for such complex designs by conventional methods often focus heavily on their market competitiveness and profitability. However, there seems to be a lack of quantifiable and systematic approaches to assess investment risks associated with investment combined products. The objective of the proposed work is to develop a framework for quantifying and analyzing various forms of contractual designs and showcase different techniques to assess the trade-off between competitive contractual designs and their practical implications regarding the difficulty of risk management.

Description: This article provides a brief description of the changes in the financial mathematics exam beginning in 2007.

Description: This article discusses considerations for statistical biases that may arise in LTC blocks due to historical benefit reductions. The article explores these biases in the context of experience studies and experience projections.

Description: One major feature of the OECD's two-pillar regime is that MNEs would base the calculation of taxes due on book-based financial statements. The article provides a summary of how these rules operate along with suggested actions insurers can take today to prepare for timely compliance.

Description: Describes a process to develop a good forecast. Also provides an example.

Description: Under long-duration targeted improvements (LDTI), there are a few insurance liability balances that now are required to be fair valued, market risk benefit (MRB). The session will start from all the applicable balances that are required to be fair valued under LDTI ((i.e., MRB, financial accounting statement (FAS) 133, value of business acquired (VOBA) upon business combination)). The session will use a case study to discuss some of the nuances and general considerations for an MRB, FAS 133 and VOBA balances for a business combination for an fixed indexed annuity (FIA) contract. The case study will discuss some MRB fair value considerations and followed by FAS 133 fair value techniques. It will go over VOBA fair value estimation by using actuarial appraisal method with a few twists (e.g., using market yield in generating distributable earnings is better than using book yield and adjusted to bring it to fair value later on).

Description: Suited for students, newly minted ASAs/FSAs, or those venturing into the realm of reserving, as well as seasoned actuaries in need of a recap, this session is a gateway to the mysteries of IBNR reserving, unraveling various methods and assumptions. Embark on a journey through the construction of claims triangles and the crafting of completion factors, delving into the enigmatic realms of seasonality, trend analysis, and outlier claims. Harness the principles unveiled to dissect a myriad of case studies spanning diverse products like major medical inpatient, outpatient, pharmacy, Medicare Supplement, dental, and critical illness. This session is your guide through the intricate world of reserving!