Registration

The registration fee is $750 for members, $850 for non-members. Registration is closed.

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About the seminar

This seminar will present an overview of the proposed principle-based approach (PBA) for statutory reserves and capital, for both life and annuity products. The Academy has been instrumental in helping the NAIC develop the proposed PBA framework to modernize statutory reserves and capital requirements, and significant progress has been made over the past few years toward making PBA a reality.

The June 9-10 seminar will give participants an excellent opportunity to get up to speed on PBA and the impact it is expected to have on the future of statutory valuation of reserves and capital. The seminar’s two Q&A sessions will allow participants to get the answers they need on the proposed principle-based framework.

The seminar is part one of a two-part series covering PBA. The second, more advanced seminar covering implementation and other PBA issues in further detail, will be offered on September 24, 2008 in Washington DC.

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Sessions

• The Purpose and Goals of PBA
• Key Elements of the PBA Framework
• A Regulatory Perspective on PBA
• PBA for Annuities
• PBA for Life Insurance Products
• Actuaries' Professional Responsibilities Under PBA (luncheon speaker)
• Reinsurance Issues
• Tax Issues
• Implementation Issues
• Open Q&A Session

Advance questions from attendees are strongly encouraged. Please e-mail your questions to Natalie Jones (jones@actuary.org).

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Speakers

The speakers have led various aspects of the PBA effort within the Academy (or the NAIC). They include

• Mike Boerner, Managing Actuary, Texas Department of Insurance and Chair, LHATF PBR Process and Coordination Subgroup
• Tom Campbell, Vice President, Academy Life Practice Council and Chair, Variable Annuity Reserves Work Group
• Donna Claire, Chair, Life Financial Soundness/Risk Management Committee
• Todd Erkis, Chair, Life PBA Practice Note Work Group
• Jim Lamson, Chair, Annuity Reserves Work Group
• Dave Neve, Chair, Life Reserves Work Group

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CE credit

The American Academy of Actuaries believes in good faith that "Introduction to PBA: An Overview of a Principle-Based Approach to Reserves and Capital" constitutes an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States.

Under these Qualification Standards, an hour of continuing education is defined as 50 minutes and fractions of an hour may be counted.

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Questions?

If you have questions about attending or registering for the seminar, please contact Kasha Shelton (shelton@actuary.org; 202.223.8196).

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