Description: Description and welcome to the 2020 Canadian Reinsurance Conference including highlight of the key note speaker

Description: In “Gearing up for Designing Your Future,” published in the May 2017 issue of Actuary of the Future, the author cited four heroes as his personal inspiration. This article is the successor, showing the glory of these heroes and how they can inspire us actuaries today, as we strive to live our best lives. Identifying your own Noble Purpose as an actuary and in your life makes creating a five-year plan for personal growth meaningful and motivating. What will you gain from reading biographies of famous people and the classics? To aspire, to approach eloquence, to emulate the poetry of how they put their ideas across to mobilize their publics, to elevate our own characters by their examples, to be fully equipped to make moral and ethical judgments, to master the primary tool, verbal communication.

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: This article provides an overview of activities that should be considered by an actuary when validating a predictive model. It describes several components to consider when validating a predictive model and provides an examination of various methodologies that can be implemented in the validation process.