Description: New York’s Regulation 126 effectively requires all companies doing business in New York to file an actuarial opinion and memorandum on their annuity and GIC business. This article attempts to answer 13 of the most commonly asked questions about this regulation.

Description: Accounting Standards Update (ASU) 2018-12, commonly referred to as long duration targeted improvements (LDTI), is the most significant GAAP accounting change impacting the life insurance industry in the past 40 years. This article discusses the impact of LDTI on variable annuities (VA) and fixed indexed annuities (FIA) from a product development and in-force management angle. Detailed discussion topics include hedging and ALM, product strategy and development, and pricing. LDTI will cause many VA and FIA writers to re-evaluate their hedging and asset liability management (ALM) strategy following the move to fair value accounting under the new MRB requirement. Stakeholder appetite for accounting volatility and resulting changes to hedging and ALM may trigger changes in product mix and designs. In addition to updating pricing infrastructure to handle the new requirements, pricing actuaries will need to produce analyses to educate stakeholders on the risks and pricing implications of any changes to designs, hedging and ALM.

Description: This session will address the risk management, reserving and capital issues associated with index-linked annuities including financial reporting considerations for FIAs and RILAs, benefits of combining VA and RILA hedging and reserving under VM-21, current and future challenges with FIA reserving under VM-22, potential capital redundancy for FIAs, RILA interim values under AG 54, NAIC economic scenario reform, asset modeling, fund mapping and more!