Description: Farewell chairperson's corner

Description: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.

Description: Read the December 2019 issue of The Financial Reporter published by the Financial Reporting Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Feature article describing the IFRS 17 and Solvency II workshop conducted by the SOA is Sao Paulo, Brazil.

Description: Feature article discussing the number of challenges associated with ASU 2018-12 related to the measurement of market risk benefits.

Description: Article from the chairperson of the Financial Reporting Section of the SOA on disruption and what it means to actuaries.

Description: Overview of regulations and best practices for governance of PBR valuation processes, including standards, oversight, controls and review related to the PBR analysis

Description: The article discusses the continued popularity of indexed UL insurance and possible reasons why a company's actual indexed UL earnings may be below their original pricing expectations for the product. The article discusses several key items that may be the source of that underperformance (e.g., hedge ineffectiveness, policyholder behavior) and the need to monitor earnings and perform analyses to better understand those potential sources.

Description: In this article, a numerical comparison of two commonly used FIA valuation methodologies is conducted to help insurers decide on the best methodology to use under GAAP LDTI and VM-22. We compared two modeling approaches to project the future index credits with the annual point-to-point crediting formula: Tthe stochastic equity crediting model and the deterministic option budget crediting model. The analysis is then extended to different levels of option budgets and the monthly average crediting formula. The advantages and disadvantages of the two equity return projecting approaches are also highlighted and will be discussed later in the report.

Description: The article gives background on the Brazilian insurance market and summarizes the newly released regulations which deal with revised reserving guidelines and new capital requirements. Additional capital requirements are promulgated for credit, market, legal, underwriting and operational risks.