Life reports to the NAIC

2012
The Academy’s NFIWG presented its quarterly report [1] to the NAIC’s Life Actuarial Task Force at the NAIC’s Spring National Meeting. (March 2012).

The Academy’s ARWG gave a report [2] to the NAIC’s Life Actuarial Task Force regarding the development of a possible definition of Deterministic Reserves for use in VM-22 at the NAIC’s Spring National Meeting. Slides available here [3]. (March 2012).

The Academy’s LRWG submitted two amendment proposal forms, on regarding VM-20 [4] and one regarding VM-31 [5], to the Life Actuarial Task Force at the NAIC’s Spring National Meeting. (March 2012).

The Life Experience Subcommittee presented an update to the NAIC Life Actuarial Task Force regarding the development of new mortality tables [6] (March 2012).

The Life Reserve Work Group sent an amendment proposal form [7] to the NAIC’s Life Actuarial Task Force regarding the simplified mortality approach to the proposed principle-based reserve (VM-20) requirements. (February 2012)

The Contingent Annuity Work Group sent a comment letter [8] to the NAIC’s Contingent Deferred Annuity (A) Subgroup with an analysis comparing market returns for contingent deferred annuities and self insurance. (February 2012)

The Risk Analysis Subgroup of the CAWG responded [9] to question from the NAIC CDA Subgroup (February 2012).

The Academy’s Life Reserve Work Group submitted a VM-20 amendment proposal form [10] to the Life Actuarial Task Force outlining a streamlined approach to mortality. (January 2012)

The Tax Work Group submitted 5 amendment proposal forms to LATF. Their topics were VM-20 transition period [11], maximum nonforfeiture interest rate [12], nonforfeiture references to mortality tables [13], VM-02 references to mortality tables [14], and VM-02 transition period [15] (January 2012).

2011

The Tax Work Group in conjunction with the Nonforfeiture Improvement Work Group issued a comment letter [16] to the Life Actuarial Task Force regarding issues associated with proposed language in VM-02. (October 3, 2011)

The joint Academy/SOA Payout Annuity Table Team submitted a report [17] regarding the 2012 Individual Annuity Reserving Table to the Life Actuarial Task Force of the NAIC (September 28, 2011). The team also included a presentation [18] that was originally scheduled for the NAIC Summer Meeting in Philadelphia that was canceled (August 27, 2011).

The Invested Asset Work Group commented [19] on the Reporting Full Faith and Credit and Other U.S. Government Obligations proposal from Matti Peltonen of the New York State Insurance Department that was made to the Valuation of Securities Task Force (VOSTF) on July 7, 2011. (August 2011)

The Academy's Invested Asset Work Group completed a report [20] regarding the C-1 Framework and delivered it to the NAIC Life Risk-Based Capital Working Group. (June 2011)

The Academy's Life Reserves Work group submitted an amendment proposal form [21] regarding the VM-20 to the NAIC's VM PBR Life Subgroup. (June 2011)

The Academy's Annuity Illustration Work Group wrote a letter [22] to the NAIC's Annuity Disclosure Working Group regarding the Annuity Disclosure Model Regulation. (May 2011)

The Duration Blanks Work Group responded [23] to a proposal from the NAIC's Blanks Working Group. (May 2011)

The Financial Soundness/Risk Management Committee submitted an amendment proposal [24] to the NAIC's VM PBR Life Subgroup. (May 2011)

The Academy's Annuity Illustration Work Group reviewed comments on the Annuity Disclosure Model Regulation submitted by the National Association for Fixed Annuities (NAFA) and recommended changes [25] in response to those comments. (April 2011)

The Tax Work Group has completed a report [26] regarding Federal Tax Reserves and the Life PBR Elective Three-Year Statutory Transition Period for the NAIC's Life Actuarial Task Force. (March 2011)

The Life Experience Subcommittee gave an Update [27] on the Development of New Mortality Tables to the NAIC's Life Actuarial Task Force (March 2011)

The Nonforfeiture Improvement Work Group provided a summary [28] of public policy issues associated with life and annuity nonforfeiture reform to the NAIC's Life Actuarial Task Force. (March 2011)

The Invested Assets Working Group commented [29] on the NAIC's Securities Valuation Office Staff Reports Related to the Rating Agency Working Group Charges. (February 2011)

Report [30] to the NAIC in response to its request for assistance with the Solvency Modernization (SMI) project on the NAIC's Risk-Based Capital (RBC) formula. (January 2011)

2010

The Annuity Illustration Work Group submitted a comment letter [31] regarding the Annuity Disclosure Model Act to the NAIC Annuity Disclosure Working Group. (November 2010)

The Invested Asset Work Group wrote a letter [32] to the NAIC Life RBC Working Group regarding the ACLI's Proposal on Risk-Based Capital for Commercial Mortgages. (November 2010)

The Academy's Life Experience Subcommittee provided an update [33] on the development of new mortality tables to the LHATF. (October 2010)

The Academy's Variable Universal Life Subgroup submitted a report [34] to the NAIC VM PBR Life Subgroup regarding deterministic return paths in VM-20. (October 2010)

The Academy's Non-forfeiture Improvement Work Group provided an update [35] regarding a general revision of Life and Annuity Standard Nonforfeiture Laws. (October 2010)

The Annuity Illustration Subgroup wrote a letter [36] to the NAIC Annuity Disclosure Working Group explaining their suggestions [37] to the Annuity Disclosure Model Regulation and included a sample illustration [38]. (September 2010).

ARWG report [39] to LHATF on statutory valuation of deposit fund contracts in Seattle. (August 2010)

Slides [40] to LHATF from the Academy Life Experience Subcommittee regarding Development of New Payout Annuity Mortality Table. (August 2010)

Update [41] of the Academy's NFIWG to the LHATF. (August 2010)

Amendment proposals to the VM-20 regarding consistent simplification [42], scenario reduction [43], the stochastic exclusion test [44] and supplemental information [45] on the reinvestment spread proposal. (July 2010)

An LRWG amendment [46] proposal to the VM-20 regarding margin ratios. (June 2010)

Amendment [47] proposal to the VM-20 to modify requirements for prescribed reinvestment asset spreads and the accompanying slides. (June 2010)

Invested Asset Work Group letter [48] to the Capital Adequacy Task Force regarding the proposed increase to commercial real estate mortgage risk based capital. (June 2010)

Illustration [49] from the Annuity Illustrations Work Group to the NAIC Annuity Disclosure Working Group. (May 2010)

Survey [50] to reinsurers about VM-20, Section 8C wording regarding the use of Reinsurer Mortality. (March 2010)

Report [51] of the Non-forfeiture Improvement Work Group to LHATF on Actuarial Guideline 25. (March 2010)

Report [52] to LHATF regarding general revision of life and annuity standard non-forfeiture laws. (March 2010)

Report [53] to LHATF on Actuarial Guideline 25. (March 2010)

Review [54] and recommendation for definitions in VM-01. (March 2010)

Valuation Law Manual Team report [55] to LHATF on practical considerations for policy reserves in VM-01 and VM-20. (March 2010)

Illustration [56] from the Annuity Illustrations Work Group to the NAIC Annuity Disclosure Working Group. (March 2010)

Amendment [46] to VM-20 by the Life Reserves Work Group with accompanying theoretical foundation [57]. (March 2010)

Update [58] on development of new payout annuity mortality table. (March 2010)

Mortality Development and Margins update [59]. (March 2010)

Life Reserves Work Group report [60] to LHATF in response to an SOA report on PBA. (March 2010)

Life Reserves Work Group report [61] to LHATF on margins in Universal Life with a Secondary Guarantee. (March 2010)

2009

Response [62] from the LRWG on New York Insurance Department’s proposed changes to the use of economic scenarios in VM-20. (December 2009)

Update [63] regarding a general revision of life and annuity standard nonforfeiture laws. (December 2009)

Letter [64] to the LHATF on the status of review of country specific regulatory responses to the financial crisis. (December 2009)

Asset defaul cost report highlights [65]. (December 2009)

Letter [66] from the Annuity Illustration Work Group to the Annuity Disclosure Working Group with more suggested revisions to an ACLI proposal for a model annuity illustration. (November 2009)

Principle-based Reserving educational session slides [67]. (September 2009)

Presentation [68] to the Rating Agency Working Group on the use of ratings in state insurance regulation. (September 2009)

Annuity Illustration Work Group suggested revisions [69] to an ACLI proposal for a model annuity illustration. (September 2009)

PBA 101 slides [70] describing the history and basics of the principle-based approach to reserves and capital. (September 2009)

Presentation [71] by the Asset Subgroup of the Life Reserves Work Group on addressing existing asset default costs in principle-based reserves calculations. (September 2009)

Report [72] by the Academy-SOA Payout Annuity POG on issues regarding a new mortality table. (September 2009)

Status update [73] by the Nonforfeiture Improvement Work Group. (September 2009)

Amendment [74] to VM-20 on assumptions requirements for principle-based reserves for life products. (September 2009)

Amendment [75] to VM-00 clarifying risks to be included in a principle-based valuation. (September 2009)

Report [76] by the Academy-SOA Valuation Table Team and document [77] (Excel spreadsheet) on reserves for term and ULSG blocks (September 2009)

Letter [78] addressing concerns expressed by the American Council of Life Insurers to LHATF regarding the 2008 VBT Tables developed by the Valuation Basic Table Team (July 2009)

The Preferred Mortality POG report [79] to LHATF on developing a 2008 CSO table, including the advantages and disadvantages of proceeding with development of a new table (June 2009)

The LRWG Asset Modeling Subgroup presentation [80] to LHATF on methods for setting prescribed default costs on existing fixed income investments in VM-20 (June 2009)

The Annuity Reserves Work Group report [81] to LHATF on valuing interest rates applicable to Guaranteed Lifetime Income Benefits for fixed deferred annuities (June 2009)

The Economic Scenario Implementation Work Group update [82] on future plans for economic scenario generators with LHATF (June 2009)

Nonforfeiture Improvement Work Group update [83] on its progress to LHATF (June 2009)

The Annuity Illustrations Work Group comments [84] to the Annuity Disclosure Working Group on a draft ACLI proposal for an annuity illustrations model regulation (June 2009)

The Governance Team comments [85] to the PBR (EX) Working Group on the latest exposure draft of the Valuation Manual section addressing corporate governance (June 2009)

The Consistency Work Group amendment proposal [86] amending VM-00 to clarify risks to be included in a principle-based valuation (June 2009)

Preferred Mortality POG presentation [87] comparing the 1980 CSO Nonsmoker table to the 2001 Residual Standard Nonsmoker table (June 2009)

Nonforfeiture improvement Work Group update [88] regarding a general revision of life and annuity standard nonforfeiture laws (March 2009)

LRWG Asset Subgourp presentation [89] on a proposed methodology for setting prescribed default costs on existing fixed income investments in VM-20 (March 2009)

LRWG report [90] to the LHATF on examples of universal life secondary guarantee reinsurance and analyzes the treatment of the presented situations under the current draft of VM-20 (March 2009)

VLMT PBR Life Scope Subgroup draft report [91] containing an analysis of potential scope and implementation options for Life Insurance Policy Reserves as outlined in VM-00, Section II of the Valuation Manual that is being developed by the VLMT PBR Life Scope Subgroup (March 2009)

Consistency Work Group draft amendment form [92] for VM-00 revising language describing six underlying concepts of the principle-based approach, potentially in keeping with the draft standard valuation law (March 2009)

2008

LRWG Asset Subgourp presentation [93] to interested parties and regulators on A proposed methodology for setting prescribed net spreads on new investments in VM-20 (December 2008)

Economic Scenario Work Group report [94] and presentation [95] (December 2008)

Nonforfeiture improvement Work Group update [96] regarding a general revision of life and annuity standard nonforfeiture laws (December 2008)

LHATF presentation [97] on the status of Solvency 2 and recommendations for next steps on monitoring international issues (December 2008)

Presentation [98] to PBR (EX) Working Group on PBR Training for Regulatory Actuaries (December 2008)

Life Capital Adequacy Subcommittee report [99] on the working reserve for the C3 RBC Calculation (November 2008)

C3 Life and Annuity Capital Work Group report [100] (September 2008)

C3 Life and Annuity Capital Work Group report on proposed simplification methods [101] and proposed changes to RBC instructions [102] (September 2008)

Joint Academy/SOA Preferred Mortality Valuation Table Team update [103] (September 2008)

Nonforfeiture Improvement Work Group update [104] regarding a general revision of life and annuity standard nonforfeiture laws (September 2008)

Group Life Waiver of Premium Valuation Table Work Group report [105] (September 2008)

PBR Work Group educational session presentation [106] (September 2008)

Comments on the qualifications [107] of an appointed actuary (August 2008)

Comments from the Life Financial Soundness/Risk Management Committee on company generated scenarios [108] (August 2008)

Comments from Reinsurance Work Group on risk transfer rules [109] (July 2008)

Life Capital Work Group report [110] (July 2008)

Presentation to the Life and Annuities Committee in the role of the Academy [111] in the development of PBR (June 2008)

Joint Academy/SOA report on mortality margins [112] in mortality valuation tables (May 2008)

Overview of asset modeling and discount rate issues in VM-20 [113] (May 2008)

Report on the 2008 valuation basic mortality table (VBT) [114], and slides [115] from report presentation (March 2008)

Modeling report on a proposed stochastic exclusion [116] test (March 2008)

Report on principle-based reserves for universal variable life insurance [117] with minimum guaranteed death benefits (March 2008)

Report on examples of principle-based reserving for reinsurance [118] (March 2008)

Proposed definitions [119] for Valuation Manual VM-1 (March 2008)

Life Capital Work Group [120] report (March 2008)

2007

Recommended changes to the statutory blank [121] to accommodate principle-based reserving (December 2007)

Comments to the NAIC about a proposed model act on corporate governance [122] for risk management (November 2007)

Proposed revisions to draft valuation manual (November 2007):

Section 20: PBR requirements for life products [123]
Section 40: Review opinion [124] requirements for a PBR valuation
Section 50: Experience reporting [125] requirements
Section 51: Experience reporting [126] formats

Report from the Group Term Life Waiver [127] Table Work Group (October 2007)

Valuation and Law Manual Team [128] report to LHATF (September 2007)

Draft valuation manual (September 2007):

Section 0: Introduction [129]
Section 1: Definitions for terms in requirements [130]
Section 2: Definitions for types of contracts [131]
Section 3: Applicability to contracts [132]
Section 5: Draft model standard valuation law [133]
Section 20: PBR requirements for life products [134]
Section 22: PBR requirements for non-variable annuities [135]
Section 25: Health [136]insurance minimum reserve requirements
Section 26: Life and disability [137] reserve requirements
Section 30: Actuarial opinion [138] and memorandum requirements
Section 31: Reporting and documentation [139] requirements for business subject to a PBR valuation and memorandum requirements
Section 40: Review opinion [140] requirements for a PBR valuation
Section 50: Experience reporting [141] requirements
Section 51: Experience reporting [142] formats

Sample actuarial report for life polices subject to PBR valuation [143] (September 2007)

Annuity Reserves [144] Work Group report to LHATF (September 2007)

Consistency Work Group [145] report (September 2007)

Economic Scenario [146] Work Group report to LHATF (September 2007)

Life Reserves Modeling Subgroup report on a possible tail risk [147] test (September 2007)

Modeling Efficiency [148] Work Group report to LHATF (September 2007)

VARWG [149] comments on draft AG VACARVM (September 2007)

Report on governance requirements [150] for principle-based life reserves and capital, with exhibits [151] (September 2007)

Group life [152] reserve waiver report (September 2007)

Reinsurance Work Group report on PBR risk transfer [153] requirements (September 2007)

Nonforfeiture [154] Improvement Work Group report (September 2007)

Report on hybrid capital [155] requirements (September 2007)

Summary of meeting with New York [156] State Insurance Department offical on life PBR (September 2007)

Comments [157] from the Academy's Life, Health, and Casualty Practice Councils on life and health insurance principles proposed by the NAIC's Principle-based Reserving (EX) Working Group (August 2007)

Life Capital Work Group report [158] (July 2007)

Life Reserves Working Group response [159] to New York Insurance Department comments on LRWG proposal (July 2007)

Comments [160] to the NAIC on travel-related life inurance provisions in a draft model trade law (July 2007)

Draft valuation manual [161], plus accompanying report [162] and slide presentation [163], and news release [164] (June 2007)

Presentation [165] by the Life Financial Soundness/Risk Management (SVL2) Committee (June 2007)

LRWG report [166] to the LHATF and an update [167] to the March LHATF exposure of the Requirements for Principle-based Reserves for Life Products (June 2007)

Presentation [168] from the Group Term Life Waiver Work Group to the LHATF (June 2007)

Nonforfeiture Improvement Work Group follow-up questions [169] on responses to LHATF questionnaire (June 2007)

Invested Asset Work Group status report [170] to the Hybrid Working Group (June 2007)

Report [171] and presentation [172] from the Joint SOA/AAA Preferred Mortality Project Oversight Group (June 2007)

Variable Annuity Reserves Work Group response [173] to issues raised by LHATF on AG VACARVM during the Spring 2007 NAIC Meeting (June 2007)

Annuity Capital Work Group [174] report on its work evaluating the C3 component of the life RBC formula (March 2007)

Updated version, in requirement format [175], of a proposed draft model regulation for review opinions of principle-based valuations (March 2007)

Updated report from the Life Capital Work Group [176] (redlined version; March 2007)

Updated Variable Annuity Reserves [177] Work Group report, summary [178] of changes from previous version, and corresponding presentation [179] to LHATF(March 2007)

Proposed requirements [180] for principle-based life reserves, summary [181] of the changes made, and corresponding Life Reserves Work Group presentation [182] to LHATF (March 2007)

Status report [183] summarizing Life Practice Council plans for principle-based activities in 2007 (March 2007)

Valuation Law and Manual Team status report [184], plus a team subgroup's report [185] and presentation [186] on the transition to a principle-based framework (March 2007)

Updated presentation [187] on modernizing life valuation (March 2007)

Presentation [188] by the Life Financial Soundness/Risk Management (SVL2) Committee, a chart [189] showing life groups working on the principle-based project, and updated definitions of the principles [190] (March 2007)

Nonforfeiture Improvement Work Group status report [191], plus questions [192] for LHATF (March 2007)

Updated Economic Scenario Work Group presentation [193] (March 2007)

Updated Academy/SOA Preferred Mortality Project Oversight Group presentation [194] (March 2007)

Comments to NAIC on proposed travel underwriting [195] provisions, with suggested revisions (January 2007)

2006

Updated draft actuarial guidelines on reserve documentation and disclosure (AG DIS [196]) and on life valuation assumptions (AG PBR-VAL [197]), updated draft model regulation on principle-based life reserving [198], a summary of changes [199] made in all three documents, a presentation to LHATF [200], and a report on the definition of deficiency [201] (December 2006)

C3 Phase 3 report [202] and update [203] from the Life Capital Work Group (December 2006)

Report on the valuation effects of principle-based reserving for certain universal life [204] products (December 2006)

Report on principle-based reserving for participating whole life [205] products (December 2006)

Example of mortality assumption development (PDF [206] and Excel [207] files, December 2006)

Comment letter on Florida travel underwriting [208] rule (December 2006)

Comment Letter on proposed NAIC unfair trade [209] amendment (December 2006)

Comments on draft versions of a corporate governance [210] bill and model regulation (December 2006)

Update on the Academy/SOA Preferred Mortality [211] Project (December 2006)

Revised hybrid securities [212] work plan (December 2006)

Proposed update to AG PBR-VAL [213] and update on non-guaranteed element [214] (November 2006)

Draft valuation manual introduction [215] and a Valuation and Law Manual Team status report [216] (November 2006)

Hybrid securities [217] work plan (November 2006)

Variable Annuity Reserves [218] Work Group report on AG VACARVM exposure draft (October 2006)

Life Practice Council comments on a proposed revised standard valuation law [219] (October 2006)

Summary of the Life Capital Adequacy Subcommittee's recommended changes in RBC LR024 [220] instructions, plus a redlined version of the instructions and worksheet (Zipped file, October 2006)

Update from the Regulatory Interface, Governance, and Peer Review [221] Work Group (October 2006)

Paper [222], accompanied by news release [223], for testimony at an NAIC committee hearing on considering travel destination in life underwriting (September 2006)

Updated draft actuarial guidelines on reserve documentation and disclosure (AG DIS [224]) and on life valuation assumptions (AG PBR-VAL [225]), updated draft model regulation on principle-based life reserving [226], and summary of changes [227] made in all three documents (September 2006)

Draft model regulation on principle-based peer review [228] (September 2006)

Report on short-term changes needed in Standard Nonforfeiture Law [229] (September 2006)

Presentation on C3 RBC economic scenarios [230] (September 2006)

Presentation with update on C3 Phase 3 [231] RBC activities (September 2006)

Life Reserves Work Group [232] report to LHATF (September 2006)

Report on principle-based reserves for non-variable annuities [233] (September 2006)

Updated glossary [234] of principle-based terms (September 2006)

Updated summary of principles [235] for the principle-based approach (September 2006)

Presentation on principle-based peer review [236] issues (September 2006)

Slides from a preferred mortality project [237] update for LHATF (September 2006)

Report to LHATF and to Life RBC Working Group from the Standards for Stochastic Methods [238] Work Group, plus slide presentation [239] (September 2006)

Updated overview [240] of principle-based project, presented to LHATF (September 2006)

Principle-based presentation on regulatory modernization [241] (September 2006)

Comments on proposed changes in model regulation for principle-based life reserving [242] (August 2006)

Academy/SOA review of interim mortality tables [243] recommended by the ACLI for life insurance reserves (August 2006)

VARWG report to LHATF on VACARVM [244] concerns (August 2006)

SVL2 update on principle-based project [245] for LHATF (August 2006)

C3 Phase 3 [246] update to LHATF (July 2006)

Update on principle-based review [247] for LHATF conference call (July 2006)

Summary of changes [248] in updated proposed model regulation [249] and actuarial guidelines on principle-based reserving for life products (June 2006)

Three updated proposed actuarial guidelines on principle-based life reserving (AG PBR [250]), life reserve assumption margins (AG MAR [251]), and life reserving disclosure (AG DIS [252]), plus a report on areas where additional actuarial judgment guidance [253] is needed (June 2006)

Update on the Academy-SOA preferred mortality study [254] project (June 2006)

Report on results of survey about proposed actuarial guideline VACARVM [255] (commissioners’ annuity reserve valuation method for variable annuities redefined) June 2006

Interim report on a requested review of the ACLI's proposed preferred mortality [256] table (June 2006)

Life Reserves Work Group (LRWG) presentation to LHATF [257] (June 2006)

Life Practice Council questions [258] for NAIC Principle-based Regulation Working Group (June 2006)

Report on variable annuity revenue-sharing [259] agreements for mutual fund services (June 2006)

Summary of results from C3 Phase II survey [260] (June 2006)

Presentation [261] to the Principle-based Regulation Working Group on applying the principle-based approach to valuation and capital requirements (June 2006)

Report on GPVAD vs. GPV approach to life reserving [262] (LRWG, June 2006)

Report on a principle-based methodology for calculating reserves for immediate and nonvariable deferred annuities [263] (June 2006)

Recommendations on principle-based valuation review [264] (June 2006)

Considerations in determining whether to apply principle-based reserving to in-force contracts [265] (June 2006)

SVL2 presentation to LHATF on the principle-based project [266] (June 2006)

LRWG report on setting assumption margin limits [267] for life reserves (June 2006)

Life Capital Adequacy Subcommittee comments on proposed life RBC [268] instructions (May 2006)

Life Capital Adequacy Subcommittee comments on total adjusted credit (TAC) provisions in proposed life RBC [269] instructions (May 2006)

Life Reserves Work Group report [270] on principles-based reserves for universal life with a secondary guarantee based on a shadow fund (April 2006)

Updated version of the enhanced C3 Phase I RBC interest-rate generator [271], part of the C3 Phase 2 scenario materials (March 2006)

Project timeline [272] by Academy/SOA Preferred Mortality Project Oversight Group (March 2006)

SVL2 Steering Committee update on the Academy’s current principle-based work [273] (March 2006)

Consistency Work Group Report defining the principles [274] in the principle-based approach (March 2006)

Life Reserves Work Group update [275] (March 2006)

Life Reserves Work Group comments [276] on a New York principle-based reserve memo (March 2006)

Life Reserves Work Group report on modeling principle-based reserves [277] for 20-year level premium term insurance (March 2006)

Life Reserves Work Group presentation on 20-year-term margin examples [278], and accompanying spreadsheet [279] (March 2006)

Life Reserves Work Group report on considerations in applying principle-based reserving to inforce blocks [280] (March 2006)

Life Reserves Work Group aggregate margin [281] report (March 2006)

C3 Phase II survey [282] for the NAIC Capital Adequacy Task Force (March 2006)

VARWG comments on changes made to proposed AG VACARVM [283] (March 2006)

Life Capital Adequacy Subcommittee report on modified coinsurance [284] (March 2006)

C3 Phase II web page [285] updated with Academy material recently provided to the NAIC, including a second set of pre-packaged scenarios for common asset classes typically needed in the stochastic cashflow projections of variable annuities, an updated LCAS report documenting the construction of the pre-packaged scenarios and providing guidance on using them, an updated scenario picking tool, an enhanced version of the C3 Phase I RBC interest-rate generator, and pseudo-random numbers used in the pre-packaged scenarios (January 2006)

2005

Proposed new RBC risk factors for Medicare Part D [286] coverage (December 2005)

SVL2 [287] Steering Committee presentation to LHATF (December 2005)

Life Reserves Work Group (LRWG) update [288] for LHATF (December 2005)

LRWG updated draft framework for life reserve valuation, with a cover memo [289], a draft model regulation [290], a draft AG on valuation assumptions [291], a draft AG on documentation and disclosure [292]requirements, and a draft AG on assumption margins [293] (December 2005)

LRWG presentation [294] on LRWG’s 20-year-term modeling results, with handout [295] (December 2005)

Variable Annuity Reserves Work Group report [296] to LHATF (December 2005)

Memo [297] to the NAIC from the Medicare Part D Subgroup, with proposed health RBC instruction [298] and health RBC formula [299] changes, proposed life RBC instruction [300] and life RBC formula [301] changes, and explanatory slides [302] (September 2005)

An updated draft framework for principle-based life reserve valuation (Main report [303], plus slides [304] describing initial modeling results; September 2005)

A draft framework for principle-based life reserve valuation (Main report [305] with hyperlinks to several other documents from this project, plus slides [306] from a presentation; June 2005)

Regulatory review [307] framework recommendations from the SVLII Work Group (June 2005)

C3 Phase 2 [308] report (June 2005)

Draft actuarial guideline [309] on variable annuity reserving (Main document [309], plus attachment [310]; June 2005)

Status report on the Modco [311] project (June 2005)

Update from the Nonforfeiture Improvement [312] Work Group (June 2005)

Review of prospective Section 6 [313] test in model standard nonforfeiture law (June 2005)

C3 Phase II project [314], including RBC and reserves (incorporates newest reports; updated April 2005)

Three related documents about a proposed actuarial guideline for variable annuity reserving (March 2005 revision): Revised draft [315] (with redlining) of the proposed actuarial guideline Attachments [316] Summary [317] of the suggested revsions

Report [318] to NAIC Capital Adequacy Task Force on Modco status report (March 12, 2005)

Progress report [319] of Academy Universal Life Work Group to NAIC (March 11, 2005)

Universal life working group presentation [320] to LHATF (Powerpoint, March 11, 2005)

Report [321] to NAIC LHATF on general nonforfeiture revision (March 10, 2005)

Changes [322] to Dec. 2004 LCAS report (March 10, 2005)

Academy presentation [323] to LHAFT SVL II on required review of principle-based valuation options (Powerpoint, March 10, 2005)

Letter [324] to NAIC Capital Adequacy Task Force opposing use of standard RVC scenario as minimum standard (March 8, 2005)

Academy recommendations [325] to LHATF for setting regulatory RBC requirements for variable annuities and similar products (March 5, 2005)

2004 and earlier

LCAS report on RBC requirements for variable annuities (September 2004; not available online)

Draft model regulation on annuity nonforfeiture implementation [326](September 2004)

Variable Annuity Reserve Work Group report (September 2004; not available online)

Report of the UL Work Group [327](September 2004)

Draft comments by the SVL2 Work Group [328](September 2004)

Draft model regulation on annuity nonforfeiture implementation [329](June 2004)

C3 Phase II project [285], including RBC and reserves (incorporates newest reports; updated June 2004)

LCAS report recommending implementation of C3 Phase II RBC (revised June 2004; not available online)

Variable Annuity Reserve Work Group report (June 2004; not available online)

Recommended model regulation on annuity nonforfeiture [330], without premium buckets (March 2004)

Nonforfeiture Improvement [331] Work Group report (March 11, 2004)

Deficiency Reserve [332] Work Group report (March 2004)

Variable Annuity Reserve [333] Work Group report (March 2004)

Recommended changes in RBC requirements for interest rate risk (C-3a) [334] (March 2004)

Recommendation on calculating RBC preferred stock asset risk (C-1 [335])(March 2004)

LCAS report [336] recommending implementation of C3 Phase II RBC (December 2003)

Proposed actuarial guideline [337] on the valuation of reserves for variable annuities (updated December 2003)

Updated draft of an annuity nonforfeiture model regulation [338], with a Q&A on the value-triggered method (December 2003)

Addendum and appendices for the September C3 Phase II RBC report [336] (December 2003)

C3 phase 2 RBC report supplement, with pre-packaged asset class scenarios (November 2003; not available online)

Draft model regulation [339] for the standard nonforfeiture law for individual deferred annuities (October 2003)

Suggested revisions [340] to an actuarial guideline on minimum guaranteed death benefit reserves (October 2003)

Report [341] on the impact of the new annuity standard nonforfeiture law on reserves (October 2003)

C3 Phase II recommendations, on RBC requirements for variable products with guarantees (September 2003; not available online)

Report [342] by the Variable Annuity Reserve Work Group (September 2003)

Report [343] on variable annuity guaranteed minimum death benefit reserves (Aug. 27, 2003)

Comments [344] on mortality assumptions used in life insurance illustrations (June 2003)

Comments [345] on implementing a new model nonforfeiture law for deferred annuities (June 2003)

Report [346] on revising standard nonforfeiture laws (June 2003)

C-3 phase 2 progress report [347] from the Life Capital Adequacy Subcommittee (June 2003)

Report [348] from the Variable Annuity Reserve Work Group about a reserve methodology using RBC C-3 Phase 2 principles (June 2003)

Report [349] from the Life Capital Adequacy Subcommittee on a proposed new RBC method for indexed separate accounts, with an accompanying spreadsheet [350] (June 2003)

Report [351] from the Life Capital Adequacy Subcommittee on modified coinsurance and reinsurance RBC issues (June 2003)

Report [352]of the Variable Annuity Reserve Work Group on reserve methodology and the RBC C-3 Phase 2 approach (March 3, 2003)

Supplement [353] to a February 2002 comparison of the three NAIC RBC formulas (March 3, 2003)

Report [354] on offset options for equity indexed annuities in the proposed annuity nonforfeiture law (Jan. 27, 2003)

Final report [355] from the Life Capital Adequacy Subcommittee on total adjusted capital for modified coinsurance reinsurance (January 2003)

Comments [356] on the effect of revisions in the AOMR (December 2002)

Report [357] on low interest rates and nonforfeiture law for individual deferred annuities (December 2002)

Proposal [358] on workers' comp carve-out (December 2002)

Recommendations [359] on implementing C-3 Phase 2 (December 2002)

Report [360] on the RBC impact of reinsurance cessions to unauthorized reinsurers (December 2002)

Report [361]on life insurers' deferred tax assets (December 2002)

Follow-up report [362] on an RBC method for indexed separate accounts (December 2002)

Comments [363]on possible changes in the U.S. solvency framework (September 2002)

Report [364] recommending that the 2001 CSO tables be adopted (September 2002)

Report [365] with the latest version of Actuarial Guideline MMMM (September 2002)

Report [366] on total adjusted capital for modified coinsurance reinsurance (September 2002)

Statement [367] on life and disability insurance issues related to a proposed model law addressing genetic discrimination (July 13, 2002)

Survey [368] of life insurance companies on determining nonguaranteed elements (June 14, 2002)

Report [369] from the newly formed Joint Valuation Work Group (June 2002)

CSO Task Force report [370] with the proposed 2001 CSO tables (June 2002)

Letter [371] on Section 8 opinions for Category C companies (June 2002)

Follow-up report [372] on a proposed RBC method for indexed separate accounts (June 2002)

Report [373] on RBC instruction and formula changes (June 2002)

Comments [374] on proposed liquidity risk disclosure in annual statements (May 30, 2002)

Letter [375] on determining the annuity nonforfeiture interest rate (May 28, 2002)

Comments [376] on NAIC Issue Paper 118 (April 19, 2002)

Comments [377] to the California Insurance Department on the AOMR (April 15, 2002)

Report [378] on a proposed RBC method for indexed separate accounts (March 2002)

Report [379] with C-3 phase 2 recommendations (March 2002)

Report [380] on clarification of C-3 phase 1 instructions (March 2002)

Comments [381] on proposed revisions to Actuarial Guideline MMMM (March 2002)

Report [382] on RBC instruction and formula modification (February 2002)

An updated comparison [383] of the NAIC's life, P/C, and health RBC formulas (Feb. 12, 2002).

Comments [384] on an NAIC draft liquidity report (Jan. 31, 2002)

Letter [385] on Life Practice Council reorganization and on the new Standard Valuation Law (Dec. 5, 2001)

Follow-up report [386] from the VAGLB Work Group (December 2001)

Update [387] on monitoring deferred tax asset (DTA) reporting (December 2001)

Report [388] on a proposed RBC method for indexed separate accounts (December 2001)

Report [389] recommending changes in the life RBC formula (December 2001)

A draft report [390] on the CSO mortality table (December 2001)

Suggested changes [391] in SSAP form (Nov. 16, 2001)

Comments [392] on an NAIC draft liquidity report (Oct. 31, 2001)

Status report [393] of the Nonforfeiture Work Group (September 2001)

Status report [394] of the C-3 Subgroup (September 2001)

Report [395] of the VAGLB Work Group (September 2001)

Comment letter [396] on life insurance product standards (Oct. 9, 2001)

A comment letter [397] on reserve requirements and SSAP 51 (Aug. 24, 2001)

Report [398] on the proposed 2001 CSO mortality table (June 2001)

Follow-up report [399] on RBC tax codification factors and instructions (June 2001)

Recommended changes [400] in the LRBC concentration calculation instructions (June 2001)

Recommended changes [401] in proposed LRBC instructions for C-3 interest rate risk (June 2001)

Follow-up [402] on report about changing common stock covariance instructions (June 2001)

Recommendation [403] on Federal Home Loan Bank stock changes (June 2001)

Progress report [404] from the VAGLB Work Group (June 2001)

Recommended changes [405] to Actuarial Guideline VL-GMDB (June 2001)

Comment letter [406] on amending the AOMR (June 1, 2001)

Comment letter [407] on proposed changes in the Accounting Practices and Procedures Manual (May 18, 2001)

Report [408] from the VAGLB Work Group (March 22, 2001)

Presentation [409] on the CSO Loading Subgroup's work (March 21, 2001)

Letter [410] to the Speed to Market Working Group (March 21, 2001)

Comments [411] on draft actuarial guideline VL-GMDB (March 2001)

Comments [412] on proposed qualification requirements for life and health actuaries (March 29, 2001)

Primer [413] on stress liquidity risk management (December 2000)

Comments [414] suggesting revising a draft actuarial guideline (December 2000)

Recommendation [415] on changing the treatment of common stock in the life RBC formula (December 2000)

Recommendation [416] on changing the C-1 treatment of real estate (December 2000)

Letter [417]on the tax effects of codification and MCO RBC formula instructions [418] in Excel, with a subsequent letter [419] (December 2000)

Interim report [420] on stress liquidity risk (September 2000)

Comments [421] on proposed changes in the C-1 treatment of Schedule A real estate (September 2000)

Comments [422]on the RBC tax structure (September 2000)

Letter [423] on reinsurance of worker's compensation carve-out coverage (September 2000)

Interim report [424] from the VAGLB Work Group (September 2000)

Interim report [425] of the VAGLB Work Group, plus appendix [426] (June 2000)

Interim report [427] of the EMO Work Group (June 2000)

Report [428] on RBC capital charges for "affiliated alien" life insurers (March 2000)

RBC report [429] on requirements for mandatorily convertible securities (March 2000)

RBC report [430] on the impact of codification (March 2000)

Report [431] on the Treatment of Common Stock in the Life Risk-Based Capital Formula Presented to NAIC Life Risk-Based Capital Working Group (December 1997)