Reserves

The minimum statutory reserve standard for all life and annuity products.

LPC Presentation on Principle-Based Reserving
Life Practice Council presentation on Principle-Based Reserving. (September 30, 2008)
Preferred Mortality September 21 LHATF Valuation Table Team Update
Society of Actuaries and the American Academy of Actuaries' Joint Project Oversight Group update on their work. (September 21, 2008)
Comments on Qualifications of Appointed Actuary for Life and Health Companies
American Academy of Actuaries and the Society of Actuaries comments to the NAIC. (August 31, 2008)
Comments on Company Generated Scenarios in VM-20
Life Financial Soundness/Risk Management Committee comments on company generated scenarios. (August 31, 2008)
Comments to NAIC on Proposed VM-20 Amendment 080329 005
Reinsurance Work Group comments to the NAIC on risk transfer rules. (July 15, 2008)
Credibility Practice Note
Life Valuation Subcommittee practice note intended to provide information on common practices and approaches related to actuarial issues for which credibility theory or a related approach may be applied. (July 1, 2008)
Activities in Development of PBR
Life and Annuities Committee presentation on the role of the Academy in the development of PBR.
(June 30, 2008)
Report from Joint Academy-SOA Preferred Mortality Valuation Table Team
Joint Academy/SOA report to the NAIC Life & Health Actuarial Task Force on mortality margins in mortality valuation tables. (May 31, 2008)
Overview of Asset Modeling and Discount Rate Issues in VM-20
Life Reserves Work Group overview of asset modeling and discount rate issues in VM-20. (May 31, 2008)
Comments on IRS Notice to Life Insurers on Potential Income Tax Issues
Life Tax Steering Group comments on an IRS notice to life insurers about potential federal income tax issues concerning proposed principle-based reserving and proposed Actuarial Guideline VA-CARVM. (May 1, 2008)
Presentation to LHATF on 2008 Valuation Basic Table
Report from the Preferred Valuation Basic Table Team, a subgroup of the American Academy of Actuaries /Society of Actuaries Joint Preferred Mortality Project Oversight Group, to the Life and Health Actuarial Task Force (LHATF) of the NAIC on the 2008 valuation basic mortality table (VBT), and slides from the report presentation. (March 31, 2008)
Modeling Report on Stochastic Exclusion Test
Modeling Subgroup of the Life Reserves Work Group report to the National Association of Insurance Commissioners’ Life and Health Actuarial Task Force in Orlando, FL. (March 31, 2008)
Report on Principles-Based Reserves for Universal Variable Life Insurance with Guaranteed Minimum Death Benefits
Variable Universal Life Subgroup of the Life Reserves Work Group report to the National Association of Insurance Commissioners’ Life and Health Actuarial Task Force (LHATF) at the LHATF Spring 2008 NAIC Meeting. (March 31, 2008)
Report to NAIC on Definitions to Include in VM-1 of Valuation Manual
Consistency Work Group report on definitions to include in VM-1 of the Valuation Manual as presented to the NAIC’s Life & Health Actuarial Task Force. (March 31, 2008)
Recommended Changes to Statutory Blank to Accommodate Principle-Based Reserves
Recommended changes to the statutory blank to accommodate principle-based reserving. (December 2, 2007)
Proposed Revisions to Draft Valuation Manual
(November 30, 2007)
Group Life Waiver of Premium Valuation Table Work Group Report
Report from the Group Term Life Waiver Table Work Group. (October 31, 2007)
Valuation and Law Manual Team Report to LHATF
Valuation and Law Manual Team report to the LHATF. (October 31, 2007)
Review Opinion Requirements for Principle-Based Valuation VM-40
Proposed revisions to draft valuation manual and review opinion requirements for a PBR valuation.
(October 24, 2007)
Proposed Revisions to Experience Reporting Requirements VM-50
Proposed revisions to draft valuation manual.  Section 50:  Experience reporting requirements. (September 30, 2007)