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.
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.
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.
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.( )
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.
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.
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.( )
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.
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).
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.( )
The PBR Strategy Subgroup sent a comment letter to the NAIC PBR Implementation (EX) Task Force on an exposure draft of AG 48.
The Life Financial Reporting Committee released a practice note detailing practices on the treatment of value of business acquired (VOBA), goodwill, and other intangible assets under the purchase method of accounting of Generally Accepted Accounting Principles, or PGAAP.
The PBR Strategy Subgroup sent a comment letter to the NAIC's Life Actuarial Task Force regarding an updated version of the AG 48 exposure draft.
The Life Practice Council presented a webinar reviewing the National Association of Insurance Commissioners (NAIC) Summer 2014 National Meeting, including a rundown of the most recent Life Actuarial (A) Task Force meeting, a discussion of the activities at the Life Risk-Based Capital (E) Working group, an update on the Kansas Field Test, and XXX/AXXX captives developments.( )
The Academy published its second PBA Perspectives, which provides a quarterly update on activities surrounding the implementation of the Principle-based Approach (PBA) for life insurance. The newsletter includes reports and updates on legislative, regulatory, and Academy activity relating to the new principle-based methodology.( )
The PBR Strategy Subgroup sent a comment letter to the NAIC's Life Actuarial Task Force regarding the exposure draft of AG 48.( )
The Contingent Annuity Work Group sent comments to the NAIC’s Contingent Deferred Annuity Working Group regarding regulatory guidelines for CDAs.
The Asset Adequacy Analysis Committee released for exposure a practice note on current practices in asset adequacy analysis and testing. Comments are due by Oct. 6.( )