Life News

Members of the Life Practice Council and Academy Senior Life Fellow Nancy Bennett gave a presentation to the Treasury Department's Office of Financial Research (OFR) on stress testing of U.S. life insurers. The open-ended dialogue provided OFR staff an overview of how U.S. life insurers and regulators use stress testing, including how insurer stress testing differs from bank stress testing. (June 12, 2015)
The Nonforfeiture Modernization Work Group submitted a comment letter to the NAIC Life Actuarial (A) Task Force on exposed edits to the standard nonforfeiture law for annuities regarding requirements for contingent deferred annuities (CDA). (May 13, 2015)
The Deposit Fund Subgroup sent a comment letter to the NAIC Life Actuarial (A) Task Force on exposed edits to the model regulation for synthetic guaranteed investment conracts (GIC). (April 22, 2015)
The Life Illustrations Work Group sent a comment letter to the NAIC’s Life Actuarial (A) Task Force on the proposed actuarial guideline for indexed universal life illustrations. (April 14, 2015)
The Nonforfeiture Modernization Work Group presented an update on the group’s activities to the NAIC Life Actuarial (A) Task Force at the NAIC Spring 2015 National Meeting. (March 27, 2015)
The American Academy of Actuaries and Society of Actuaries Joint Project Oversight Group gave a presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT tables, 2017 CSO tables, and PBR margins. (March 26, 2015)
The Life Capital Adequacy Committee (LCAC) submitted comments to the NAIC Life Risk-Based Capital (E) Working Group regarding the latest exposure drafts related to the XXX/AXXX reinsurance framework.
(March 20, 2015)
The Life Illustrations Work Group sent a comment letter to the NAIC Life Actuarial (A) Task Force on an exposed actuarial guideline for indexed universal life illustrations.
(March 11, 2015)
The PBR Strategy Subgroup and Life Reinsurance Work Group sent a comment letter to the NAIC PBR Implementation (EX) Task Force regarding the XXX/AXXX reinsurance supplemental proposal.
(February 23, 2015)
The Stress Testing Work Group submitted a comment letter to the NAIC Stress Testing (E) Subgroup regarding their stress testing proposal as an outline for field testing of life insurance reserves.
(January 30, 2015)
The Life Capital Adequacy Committee (LCAC) sent a comment letter to the NAIC Life Risk-Based Capital (E) Working Group regarding exposure drafts related to the XXX/AXXX reinsurance framework.
(January 29, 2015)
The Life Illustrations Work Group sent a letter to the NAIC Life Actuarial (A) Task Force regarding principles for a sound actuarial guideline on illustrations of life insurance products.
(January 8, 2015)
Life Capital Adequacy Committee, Property and Casualty Risk-Based Capital Committee, and Health Solvency Work Group comments to the National Association of Insurance Commissioners (NAIC) on operational risk issues. (January 7, 2015)
The Academy published its winter PBA Perspectives, a quarterly update on regulatory, legislative, and Academy activities surrounding the implementation of the Principle-Based Approach (PBA) for life insurance. (December 15, 2014)
The Life Practice Council (LPC) submitted comments to the Actuarial Standards Board regarding an exposed Actuarial Standard of Practice (ASOP) on Principle-Based Reserves for Life Products.
(December 15, 2014)
The Life Products Committee(LPrC) submitted comments to the Actuarial Standards Board regarding an exposed Actuarial Standard of Practice (ASOP) on Life Insurance and Annuity Pricing.
(December 15, 2014)
The American Academy of Actuaries and Society of Actuaries Joint Project Oversight Group made a presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT and CSO tables.
(November 14, 2014)
The Deposit Fund Subgroup of the Annuity Reserves Work Group made a presentation to the NAIC Life Actuarial (A) Task Force on the subgroup’s proposal to modify regulations of synthetic guaranteed investment contracts (GIC). 
(November 14, 2014)
The Deposit Fund Subgroup of the Annuity Reserves Work Group submitted a supplemental proposal on reserving for synthetic guaranteed investment contracts (GIC) and proposed changes to the existing model regulation.  (November 14, 2014)
The Contingent Annuity Issues Work Group sent a comment letter to the NAIC Contingent Deferred Annuity (A) Working Group on regulatory guidance for issuers of CDAs.  (November 7, 2014)