Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 The National Association of Insurance Commissioners NAIC Valuation of Life Insurance Policies Model Regulation XXX sets forth the valuation requirements for life insurance with nonlevel premiums or nonlevel benefits, including term insurance and universal life with certain underlying guarantees. Panelists discussed the issues around implementation of the requirements. The issues discussed include: • Determination of X factors when no credible company mortality exists • Proper treatment of secondary guarantees in universal life insurance • Preparation of the mortality assumption opinion requirements • Impacts on product development and design

Description: The internal rate of return (IRR) for a policy is a single interest rate that discounts all policy cash flows back to the issue date of the policy, such that the sum of discounted cash flows equals zero. “Cash flows” include statutory income, taxes, required capital, and imputed interest on required capital. An insurer will often require thatproducts be priced to achieve a certain minimum IRR threshold.

Description: Relationship of IRR to ROI on a Level Term Life Insurance Policy

Description: Full version of Product Development News, August 2002, Issue No. 53.

Description: Discussion of the relationship of IRR to ROI on a Level Term Life insurance policy

Description: From a panel discussion session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Panelists discuss the several issues regarding the 2001 CSO table. Attendees explored the implications for statutory reserving in general, implications for reserving under Regulation XXX, implications for the tax definition of life insurance, and other broad strategic issues. The timeframe and adoption mechanics for statutory reserving, tax reserving, and Section 7702 were also discussed.

Description: 1996 Valuation Actuary Symposium. In this session the panelists discussed economic surplus, economic value, and value added in the context of how value added is actually used in a company's compensation system.

Description: Full version of The Financial Reporter, Issue No. 50, September 2002.

Description: This article looks at EVA calculation, its various issues and how it can be used to better manage a company. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.