Life Reports to the NAIC

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)
Life Practice Council comments on the Initial Report of Rector & Associates to the NAIC Principle-Based Reserving Implementation (EX) Task Force regarding assets for captive reinsurance.  
(November 15, 2013)
Life Capital Adequacy Subcommittee comment letter to the NAIC’s Life Risk-Based Capital (E) Working Group regarding double counting of the Asset Valuation Reserve in both RBC and Asset Adequacy Analysis.
(October 11, 2013)
Life Capital Adequacy Subcommittee comment letter to the NAIC’s Life-Risk Based Capital (E) Working Group on its exposure draft on  additional collateral for transactions with unauthorized reinsurers before risk-based capital (RBC) credit can be taken by the ceding company.
(October 11, 2013)
AG 43/C-3 Phase II Work Group comment letter to the NAIC C-3 Phase II/AG 43 (E/A) Subgroup regarding recent amendment with modifications to current total return gross wealth ratios for Actuarial Guideline 43.  
(September 30, 2013)
Presentation by the C-3 Work Group to the NAIC Life Risk-Based Capital (E) Working Group with recommendation of C-3 Phase 1 alternatives.  
(September 18, 2013)
Life Practice Council presentation to the NAIC’s Center for Insurance Policy and Research Summit on issues related to internal modeling for PBR. (August 27, 2013)
Presentation to the NAIC ERISA Retirement Income Working examining the financial risks of increased lifespans and the needs for retirees to secure lifetime income.   (August 24, 2013)
C1 Workg Group presentation to the NAIC Investment Risk-Based Capital Working Group on the benefits and uses of a representative portfolio for C1 factors in the Risk-Based Capital formula.   (August 24, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of letters of credit and other similar assets in the VM-20 reserve calculation.

(August 22, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of due premiums in VM-20 reserve calculation.

(August 22, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of due premiums in VM-20 reserve calculation.

(August 22, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of individually underwritten certificates issued under a group life insurance contract.

(August 22, 2013)

Aggregate Margin Task Force proposal to replace individual margin in VM-20 with aggregate margin approach.

(August 22, 2013)
Aggregate Margin Task Force presentation of proposal to replace individual margin in VM-20 with aggregate margin approach. (August 22, 2013)

Annuity Reserve Work Group report to the Life Actuarial Task Force on potential reserve methodology for non-variable annuities in VM-22.

(August 22, 2013)