Life Reports to the NAIC

Life Capital Adequacy Subgroup comments on the NAIC Operational Risk Subgroup’s March 20 exposure of a revised proposal that suggests a new “C-5” factor in the NAIC Life Risk-Based Capital formula to provide for operational risk.
(April 15, 2014)
Principle-based Reserves Strategy Subgroup comments clarifying the suggestion to eliminate the net premium reserve (NPR) component of VM-20 in previous comments on Feb. 17 Report of Rector & Associates to the Principle-Based Reserving Implementation (EX) Task Force.
(April 11, 2014)
C-1 Work Group presentation to the NAIC Investment Risk-Based Capital Working Group on C-1 Factors for Corporate Bonds in Life Risk-Based Capital Instructions.
(March 29, 2014)
Actuarial Guideline 33 Non-elective Incidence Proposal Work Group presentation to the NAIC Life Actuarial Task Force with proposed language to Actuarial Guideline 33 to address non-elective incidence reserve issue.
(March 28, 2014)
Nonforfeiture Modernization Work Group update to the NAIC Life Actuarial Task Force on the Gross Premium Nonforfeiture Method.
(March 28, 2014)
Life Experience Subcommittee presentation to the NAIC Life Actuarial Task Force on a mortality update on development of the 2014 Commissioners Standard Ordinary table, the 2014 Valuation Basic Table, and margins under VM-20 for determination of Prudent Estimate Mortality.
(March 27, 2014)
Life Reserves Work Group Amendment Proposal regarding treatment of due premiums in VM-20 reserve calculation. (March 27, 2014)
Principle-Based Reserve Strategy Subgroup comments on the exposed Feb. 17, 2014, Report of Rector & Associates, Inc. to the Principle-Based Reserving Implementation (EX) Task Force.
(March 21, 2014)
Contingent Annuity Issues Work Group responses to questions from the NAIC regarding the reserving and capital requirements for contingent annuities.
(March 21, 2014)
Report by AOM Discussion Group on ideas to improve the communication of issues within the appointed actuary’s memorandum. 
(March 19, 2014)
Life Reserves Work Group revised amendment proposal regarding treatment of due premiums in VM-20 reserve calculation.
(February 5, 2014)
Letter from Academy RBC work groups to the NAIC SMI RBC Subgroup regarding the NAIC’s Dec. 9 Operational Risk Proposal. (January 30, 2014)
Life Practice Council comments on proposed “actuarial standard” in Report of Rector & Associates to the NAIC Principle-Based Reserving Implementation (EX) Task Force. 
(January 15, 2014)
Separate Account Products Work Group comments on the Potential Actions/Recommendations (Document 2) exposed for comment on Nov. 18, 2013, by the NAIC Separate Account Risk (E) Working Group.
(January 10, 2014)
Life Financial Soundness/Risk Management Committee response to the NAIC’s Life Actuarial Task Force regarding questions from the New York Insurance Department on Academy’s proposal for treatment of due premiums. (December 13, 2013)
Annuity Reserves Work Group update to LATF’s VM-22 Subgroup on efforts towards development of appropriate utilization assumptions for Guaranteed Lifetime Income Benefits (GLIBs) in the floor reserve calculation. (December 13, 2013)
Nonforfeiture Modernization Work Group update to NAIC’s Life Actuarial Task Force on treatment of GLWBs in fixed deferred annuities under the proposed GPNM nonforfeiture approach. (December 13, 2013)
Life Financial Soundness/Risk Management Committee proposed amendment to NAIC’s Life Actuarial Task Force on whether the direct iteration approach for the deterministic reserve results in the same amount as the gross premium valuation approach currently required by VM-20. (December 13, 2013)
Life Reserves Work Group memo to the NAIC’s Life Actuarial Task Force of VM-20 on current and long-term spread tables. (December 13, 2013)
Separate Account Products Work Group comments to the NAIC’s Separate Accounts Risk Working Group on suggested principles for insulating separate account assets for non-variable products. (December 13, 2013)