Description: Estimating premium deficiency reserves (PDR) for medical insurance and other short-duration health products is an area that not only requires application of actuarial judgment, but also alignment between actuaries, accountants, and regulators. Significant diversity of practice exists across the industry on a number of key issues, among them: how to group products for PDR measurement purposes; which future premium & claim cash flows to include (time horizon); forecasting future membership change; which administrative expenses to include; and how to think about investment income. In many cases, practices that are common in the actuarial community may be met with skepticism by auditors and/or regulators, and vice versa. This session will showcase the existing diversity of practice observed in both U.S. GAAP and U.S. Statutory PDR estimation, articulating multiple points of view on the issues noted above with a focus on finding common ground between actuaries and accountants.

Description: 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 index annuity (FIA) contract. The case study will discuss some MRB fair value considerations and followed by FAS 133 fair value techniques.

Description: Latest development in IFRS 17 including a first look at companies disclosures and financial impacts, as well as a discussion of some of the run time issues that companies face.

Description: Join us for discussion about the tax implications for direct writers ceding annuity blocks. The presenters will describe the mechanics and consequences for both onshore and offshore reinsurance arrangements. This will introduce the audience to the tax consequences, with the risk transfer of annuity features and guarantees to reinsurers to reinsurers that are US-based and not US domiciled.

Description: Provides an update, as of September 2022, on Financial Reporting Section sponsored research projects in process and those recently completed.

Description: In the United States, there has been much industry discussion of the challenges associated with a sustained low interest rate environment, which impacts both the asset and liability sides of the balance sheet in unfavorable ways. The intent of this article is not to focus on these strategic issues. Rather, we attempt to shine a spotlight on some of the modeling challenges that practicing actuaries may experience when incorporating negative interest rates into their models.

Description: After years of discussion and debate, Principles Based Reserving (PBR) is finally a reality. Small insurance companies have a unique opportunity to decide between electing for the company-wide exemption or adopting the PBR methods. The benefits and challenges of the options available to small insurers under VM-20 will be shared throughout this webcast. Then, hear about some best practices that have been found along the way.

Description: Actuarial Standards of Practice (ASOPs) are critical to an actuary's work, but staying abreast of changes to ASOPs could be challenging. Several ASOPs have been created or updated in the last few years while ValAct was on hiatus. Are you up to date? This session will focus on ASOPs 7, 11, 28, 41 and 57. Come ready to play, as we challenge your knowledge of these ASOPs in a fun game show format. By the end of this session, attendees will learn the major provisions included in ASOPs that have been recently updated or created and understand how their work may be impacted by these recent changes.

Description: This webcast will walk through several statistical methods for imputing race and ethnicity from U.S. datasets, highlighting their strengths and weaknesses, talking about how to use them and evaluating their accuracy, and telling you where you can get code packages as well as a free dataset to try the methods out.

Description: Interest Maintenance Reserve ("IMR") has become a hot topic recently due to rising interest rates, causing decreases or even negative IMR balances for some insurers. This article aims to exam some new questions facing financial reporting actuaries: - How should negative IMR be treated for statutory reporting? - What are the other actuarial implications of negative IMR? - What have regulators done and/or plan to do about negative IMR? - What are potential mitigants?