
Life Practice Council
The Life Practice Council oversees the Academy's public policy work on life insurance issues. The council manages the work of its committees, subcommittees, and work groups. The Academy's vice president for life insurance issues heads the council and serves on the Academy Executive Committee and Board of Directors.
Staff Liaison:
Fabienne Amisial
ASB Liaison:
Gabriel Schiminovich
Professionalism Liaison:
Robert Astleford
Chairperson:
Kirsten Pedersen
Vice Chairperson:
Matt Monson
Members:
Marc Altschull
Mary Bahna-Nolan
Ravi Bhandari
Donna Claire
Christopher Conrad
Bruce Friedland
R. Dale Hall
Laura Hanson
Richard Hayes
Jonathan Heldmann
Andrew Jenkins
Elizabeth Keith
Janelle Kern
Linda Lankowski
Angela McShane
Donna Megregian
Craig Morrow
Maambo Mujala
Paul Navratil
Hal Pedersen
Leonard Reback
April Shen
Stephen Smith
Dylan Strother
Marcy Thailer
Kyle Wan
Mary Bahna-Nolan
Ravi Bhandari
Donna Claire
Christopher Conrad
Bruce Friedland
R. Dale Hall
Laura Hanson
Richard Hayes
Jonathan Heldmann
Andrew Jenkins
Elizabeth Keith
Janelle Kern
Linda Lankowski
Angela McShane
Donna Megregian
Craig Morrow
Maambo Mujala
Paul Navratil
Hal Pedersen
Leonard Reback
April Shen
Stephen Smith
Dylan Strother
Marcy Thailer
Kyle Wan
Related Publications
Model Construction and Development of RBC C-1 CLO Factors
In this comprehensive report, the C1 Subcommittee summarizes their work on collateralized loan obligations (CLO) modeling work completed over the past several years. The report begins with the...
Topics: Risk-Based Capital
Date Published: 10/22/2026
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Long Term Care Combo Products—Modeling, Assumptions, and Risks
This paper authored by the Life Experience & Assumptions Committee provides a practical actuarial overview of combination insurance products that pair life insurance or annuities with long-term...Date Published: 10/19/2026
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Committee Comments to LATF on AG 55 Guidance
The American Academy of Actuaries’ Life Valuation Committee generally supports the NAIC’s proposed year-end 2026 AG 55 disclosure requirements for offshore reinsurance but recommends also...Date Published: 10/16/2026
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CLOs--Update on Asset Risk Structure
In this presentation at the NAIC Insurance Summit, C1 Subcommittee Chairperson Steve Smith provides an update on collateralized loan obligations (CLO) modeling work completed over the past several...Date Published: 09/30/2026
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Possible Structure Exposure Comment Letter
Leadership from RBC-related Academy committees provided some priority considerations in response to an NAIC RBC Model Governance (EX) Task Force exposure on proposed RBC oversight structures.
Topics: NAIC Risk-Based Capital
Date Published: 09/29/2026
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Annuity Principle-Based Reserves Under VM 22 Practice Note
This practice note provides practical guidance for actuaries on implementing principle-based reserve valuation for non-variable annuity products under the VM-22 framework, as adopted by the NAIC. It...Date Published: 09/28/2026
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Request for Comments on the Draft Buyers Guide on Deferred Annuities
The American Academy of Actuaries Annuity Products Subcommittee submitted comments on the NAIC Draft Buyer’s Guide for Deferred Annuities, recommending clarifications, consolidation of redundant...Date Published: 09/24/2026
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LPC Comments to LATF Request to Review VM Spreads & Defaults
The Life Practice Council commented to the NAIC Life Actuarial (A) Task Force’s (LATF) request regarding VM prescribed spreads and default costs.Date Published: 09/15/2026
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US GAAP Fair Value Measurement & Fair Value Option Practice Note
The U.S. GAAP Fair Value Measurement & Fair Value Option practice note, developed by the Life Generally Accepted Accounting Principles (GAAP) Committee, explains ASC Topic 820 and related...Date Published: 09/15/2026
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7702, Valuation Rate, and Applicable Federal Interest Calculator
The IRC Section 7702 Rate Calculator The Valuation Rate (Val Rate) and Applicable Federal Interest Rate (AFIR) Calculator (Updated Sept. 1, 2026) These spreadsheets are associated with...Date Published: 09/01/2026
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C3 Field Test Specifications
The C-3 Subcommittee presented C-3 Field Test Specification revisions to the NAIC Life RBC Work Group.Date Published: 08/11/2026
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NAIC LATF Request to Review VM Prescribed Spreads & Defaults
The Academy's Life Reserves Committee responded to the NAIC LATF's request to review the Valuation Manual prescribed default and spread methodology used in VM-20, VM-21, and VM-22, and either...Date Published: 08/11/2026
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LPC update to LATF at Summer National Meeting
Academy Senior Staff Actuary Seong-Min Eom updated the NAIC’s Life Actuarial (A) Task Force (LATF) on Life Practice Council (LPC) activity at NAIC’s Summer National Meeting in Columbus.Date Published: 08/10/2026
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NAIC IUL and Premium Financing Comment Letter
The Academy's Life Insurance Illustration Subcommittee offered the comments in response to the June 15, 2026, presentation made by NAIC Consumer Representative Dick Weber regarding IUL and premium...Date Published: 08/06/2026
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Model 245 Summary Guide & Actuarial Guideline Flow Chart Exposure Question
The Annuity Products Subcommittee provided comments to the June 2, 2026, exposure of the List of Potential Modifications to Model 245 Summary Guide and Actuarial Guideline as Mechanism for...Date Published: 07/29/2026
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Longevity Reinsurance Illustrations for Development of RBC C-2 factors
The Academy Longevity Risk Task Force held a meeting session with the NAIC to present Longevity Reinsurance Illustrations for Development of RBC C-2 factors. The Task Force provided illustrations of...Date Published: 07/29/2026
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VM-22 Retrospective Application Exposure Comment Letter
The Annuity Reserves and Capital Subcommittee (ARCS) submitted comments to the NAIC’s Life Actuarial (A) Task Force Valuation Manual (VM)-22 (A) Subgroup on the VM-22 Retrospective Application...Date Published: 06/22/2026
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GIC Exposure Comment Letter
The Annuity Reserves and Capital Subcommittee submitted comments to the NAIC’s Life Actuarial (A) Task Force on VM-22 Application to GICs, Funding Agreements, SGICs, and Stable Value Contracts.Date Published: 06/11/2026
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Exposure of Proposed RBC Preamble Revisions Comment Letter
The Cross-Practice RBC Task Force submitted comments on the NAIC's exposure of proposed revisions to the RBC Preamble.
Topics: NAIC Risk-Based Capital
Date Published: 06/08/2026
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LPC Submits Comments to the ASB on ASOP 41
Comment letter from the Life Practice Council Committees and Subcommittees, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 41, Actuarial Communications.Date Published: 06/04/2026
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