Life News

The Life Principle-Based Approach Practice Note Work Group released an updated version of the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for 12/31/2018 valuations.  (January 17, 2019)
The Role of the Actuary Subroup submitted a comment letter to the NAIC suggesting that the definitions and guidance related to the various forms of actuarial opinion in VM-30 could be clarified.  (January 10, 2019)
The Life Reserves Work Group submitted a comment letter regarding credited amounts for indexed accounts in the calculation of the Deterministic Reserve (DR), outlined in amendment proposal form (APF) 2018-44 to the Life Actuarial (A) Task Force.  (January 2, 2019)
The Non-Guaranteed Elements Work Group submitted a comment letter outlining their proposal for a NAIC life insurance online guide landing page.  (November 28, 2018)
The PBR Governance Work Group provided an update to the Life Actuarial (A) Task Force on the Academy’s involvement with principle-based reserves. (November 14, 2018)
The SVL Interest Rate Modernization Work Group provided an update to the Life Actuarial (A) Task Force on the modernizing the process of setting valuation interest rates for all non-variable annuities. (November 14, 2018)
The Annuity Reserves Work Group provided an update to the Life Actuarial (A) Task Force on their recommended changes to VM-22. (November 13, 2018)
The Reinsurance Work Group gave a presentation to the Life Actuarial (A) Task Force on potential issues relating to VM-20 Credit for Reinsurance.
(November 13, 2018)
The Annuity Illustration Work Group submitted a letter, consolidating their comments to the NAIC, on proposed changes to Annuity Disclosure Model Regulation #245.  (October 18, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on mortality experience assumptions and the selection of the industry basic table when company experience mortality rates are higher than the industry basic table.  (October 3, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.  (September 12, 2018)
The RBC Tax Reform Work Group submitted a guidance document to the NAIC on the interpretation of life risk-based capital results in light of the 2017 Tax Cuts and Jobs Act.  (September 7, 2018)
The Life Illustrations Work Group submitted a comment letter to the NAIC on draft changes to Model #582.  (August 31, 2018)
The Macroprudential Task Force submitted a comment letter to the NAIC on the exposed scope for liquidity stress testing.  (August 31, 2018)
The Academy's Life and Health Valuation Law Manual Task Force submitted a comment letter to the NAIC Life Actuarial (A) Task Force outlining recommended changes to the 2019 Life and Health Valuation Law Manual.  (August 16, 2018)
Chris Trost, chairperson of the C-2 Work Group, gave an update on the group's projects to the NAIC Life Risk-Based Capital (E) Working Group.  (August 4, 2018)
Laura Hanson, chairperson of the Life and Health Valuation Law Manual Task Force, gave an update on potential changes to the 2019 Manual.  (August 3, 2018)
Donna Claire, chairperson of the PBR Governance Work Group, provided an update on PBR adoption and Academy involvement to the Life Actuarial (A) Task Force.  (August 3, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented an update to the Life Actuarial (A) Task Force on the Delphi Study, Accelerated Underwriting, and VM-51 data elements.  (August 2, 2018)
Chris Conrad, vice chairperson of the SVL Interest Rate Modernization Work Group, presented an update to the Life Actuarial (A) Task Force.  (August 2, 2018)