Description: S&P reissued a second Request for Comment (RFC) in May 2023 that proposed changes to their insurer capital adequacy methodology and assumptions, and suggested these proposed changes may become effective at the end of 2023. This paper is to highlight the notable changes between the current capital model criteria and the proposed model. We also discuss major changes from the first RFC and the second RFC, as well as several key items that still require enhanced guidance and clarification. Our analysis is based on information gathered from S&P's public comments, conversations with industry participants, and publications released by S&P Global as of July 2023 when this paper was written. Most U.S. life insurers are rated by S&P using their U.S. Life Statutory Capital model, while other insurers use the GAAP/IFRS Capital Model. Statutory financials will remain the starting point for U.S. life insurers under the proposed model, however there will be additional adjustments made to these numbers in an effort to create consistency and comparability with other accounting and solvency regimes.

Description: Actuarial science curricula at universities tend to focus on preparing students for academic and professional exams. In this article, I will share the value of student professional development and how it complements the technical skills taught in the classroom, using Temple University as an illustrative case study.

Description: What are Biosimilar drugs? Are they the same as generic drugs? What potential impact might Biosimilars have in the United States prescription drug landscape and it’s economics? This article explores those questions as well as exclusivity and interchangeability.

Description: View the Fall 2023 FSA Exam Book List.

Description: This article gives you a different way to think about economics from a system science perspective and introduces concepts such as complexity, emergence, and interdependence. The concepts allow better conformity to the behavior of the markets and policyholder behavior.

Description: List of key initiatives for the Society of Actuaries and how they were developed.

Description: Notes of the September 11. 2007 Education and Research Section Council Conference Call including discussion of the 2005 Halmstad Prize and the Expanding Horizons schedule.

Description: Discussion of practice areas, the Society of Actuaries' strategic plan, and the Implementation Task Force on Sections and Practice Areas.

Description: The Actuarial Foundation's (TAF) AERF Committee of and the Society of Actuaries' Committee on Knowledge Extension Research (CKER) announce the 2007 Individual Grants Competition to support the advancement of knowledge in actuarial science. Grants will be funded through TAF and the SOA.

Description: Chatting with the Chair, Expanding Horizons Issue 29, June 2004