Reserves

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

Deposit Fund Subgroup proposal for reserving synthetic GICs based upon the Subgroup's report presented to the Life Actuarial Task Force on November 28, 2012. (February 8, 2013)

Comments on NAIC PBR Draft Implementation Plan

Comment letter to the National Association of Insurance Commissioners' Principles-Based Reserving (E) Working Group with suggested changes to its November 2012 draft implementation plan for principle-based reserving of life insurance. (January 11, 2013)

Comment Letter on Reserves and Capital for CDAs

Comment letter to the to the NAIC’s Contingent Deferred Annuity (A) Working Group outlining the applicability of Actuarial Guideline 43 and C-3 Phase II to reserving and capital standards for Contingent Deferred Annuities. (December 21, 2012)

Comments on C-3 Phase II/AG 43 Work Plan Draft

Comments by the Actuarial Guideline 43 / C-3 Phase II Work Group to the NAIC’s C-3 Phase II/AG 43 (E) Subgroup on its November 1, 2012 Work Plan Draft. (December 10, 2012)

Synthetic GIC Reserve Proposal

Deposit Fund Subgroup proposal for reserving synthetic guaranteed investment contracts submitted to the Life Actuarial Task Force. (November 27, 2012)

Synthetic GIC Reserve Presentation

Deposit Fund Subgroup presentation for reserving synthetic guaranteed investment contracts presented to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting.

(November 27, 2012)

Report on Possible AG 33 Solution for GLIB Business

Annuity Reserve Work Group report on guaranteed living income benefits submitted to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting. (November 27, 2012)

VM-20 Asset Default Presentation

Life Reserves Work Group presentation on background of VM-20 Asset Default Methodology and Development Process to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting. (November 27, 2012)

LPC Comment on NAIC PBR Budget Item

Life Practice Council comment letter to the NAIC commending the inclusion of a budget item for the purposes of “Actuarial Guideline 38/Principle-Based Reserving Implementation and Monitoring. (November 9, 2012)

Ideas for AG43/C-3 Phase II Review Process

Report to NAIC C-3 Phase II/Actuarial Guideline 43 Subgroup detailing ideas for a C-3 Phase II/Actuarial Guideline 43 review process. (October 12, 2012)

Post-NAIC Update/PBA Webinar (#24)

Post-NAIC Update/PBA Webinar slides reviewing the NAIC Summer 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. The August 30 webinar included a comprehensive update on the status of the Valuation Manual, and updates on Actuarial Guideline 38, professionalism issues and capital developments.
(August 30, 2012)

Presentation on Annuity Mortality Tables and Draft Model Regulation

Life Experience Subcommittee presentation to the NAIC Life Actuarial Task Force with the Subcommittee's conclusions on the 2012 Individual Annuity Mortality Basic Tables following a recent exposure period. (August 9, 2012)

PBR Implementation and Review Process Presentation

Life Practice Council presentation to the NAIC Life Actuarial Task Force with recommendations for review, assessment and improvement of principle-based reserves. (August 9, 2012)

LPC Comment Letters to NAIC on Valuation Manual

Comment letters to both the NAIC Life Actuarial Task Force and the Life and Annuities (A) Committee from the Academy's Life Practice Council and Life Financial Reporting/Risk Management Committee regarding the need for changes to the valuation manual as well as a formal updating and review process. (July 16, 2012)

VM-20 Amendment Proposal on Mortality

Life Financial Soundness/Risk Management Committee presentation of NAIC's Life and Health Actuarial Task Force Amendment proposal outlining a simplified approach for determining prudent estimate mortality assumption for VM-20. (June 18, 2012)

FS/RM Presentation to LATF Regarding Value of X

Life Financial Soundness/Risk Management Committee presentations to LATF regarding the determination of X in a simplified mortality approach. (May 17, 2012)

FS/RM Presentatuin to LATF on Mortality Loads

Life Financial Soundness/Risk Management Committee presentation to LATF regarding a comparison of the impact of mortality loads. (May 17, 2012)

FS/RM VM-01 Amendment to LATF

Life Financial Soundness/Risk Management Committee's VM-01 amendment to the NAIC Life Actuarial Task Force regarding definitions in the Valuation Manual. (May 11, 2012)

FS/RM PBR Review and Updating Amendment to LATF

Financial Soundness/Risk Management Committee's amendment proposal form to the NAIC Life Actuarial Task Force regarding the addition of a PBR Review and Updating Process to VM-00. (April 23, 2012)

Post-NAIC Update/PBA Webinar #23

Post-NAIC Update/PBA Webinar #23 hosted by the LPC covering the Spring 2012 LATF meeting, a simplified approach for the VM-20 mortality assumption and other LPC topics. (March 29, 2012)