Description: Variable life insurance asset shares involve, in general, both the separate account and the general account. This paper develops, for both accounts, under the New York Life design, the annual asset share equations of equilibrium for the separate account asset share, for the general account asset share, for the basic reserve, and for the surplus and also derives the individual expressions for the interest and mortality contributions to the surplus. Followed by discussion papers submitted by several authors.

Description: Discussion of the sensitivity of GAAP reserves to certain assumptions made and methodologies used. Followed by a discussion paper

Description: A review of Section 404 of the Sarbanes-Oxley Act, including a review of the need for life and health insurance actuaries to review and, in most cases, substantially strengthen their internal controls over financial reporting.

Description: Book review of The Fundamentals of Pension Mathematics by Barnet E. Barin. Mr. Griffin supports the text as a valuable contribution in particular his analysis of gains/losses by source during the transition to utilizing computers for pension valuation.

Description: This article discusses the advantages, logistical concerns, and pricing formulas of implementing a TNHP, in which members pay less for treatment from providers who meet higher quality and cost-effectiveness standards.

Description: Presented at October 1996 Annual Meeting. Discusses the new regulatory requirements, including the invention of an illustration actuary and what the job entails, and the tasks to be accomplished in achieving compliance.

Description: Discussion of American Academy of Actuaries Illustrations Work Group. This article deals specifically with the issue of using mortality improvement assumptions in the illustrations prohibited by the Model Illustration Regulation, suspected in some cases because some UL products incorporate low cost of insurance charges in late durations as part of their product design.

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Presents questions to actuaries who are experts in the field of actuarial valuation of insurance company assets and liabilities.

Description: The use of Other Comprehensive Income OCI is receiving its moment in the sun. It is being considered for housing some of the earnings volatility in the International Accounting Standards Board IASB current approach to measuring insurance contracts’ performance.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.