The Annuity Reserves and Capital Work Group Submitted Recommendations of Aggregation Principles as outlined in the Academy’s Preliminary Framework Elements for Fixed Annuity Principle-Based Reserving to the National Association of Insurance Commissioners’ Life Actuarial Task Force’s VM-22 Subgroup.
( )The Academy’s Life Underwriting and Risk Classification Work Group's comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing what the working group has learned on using external data and data analytics in accelerated underwriting and provides recommendations for regulators and insurers when evaluating accelerated underwriting.
( )Annuity Reserves and Capital Work Group's Letter and Spreadsheet to Valuation Manual (VM)-22 Subgroup on VM-22 Mix
The Academy’s Annuity Reserves and Capital Work Group's letter and spreadsheet to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding a reinvestment credit quality assumption consistent with the current VM-22 mix.
( )Academy President Maryellen Coggins submitted a letter to the Colorado Division of Insurance in advance of the upcoming stakeholder engagement process for the recently passed state law aimed to protect consumers from unfair discrimination in insurance practices. The comments addressed potential concerns of the law’s impact on casualty, health, and life insurance.
( )The Academy’s Life Illustrations Work Group's comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure draft regarding the indexed universal life illustrations post-AG 49-A, which have shown lower credited rates and related values than seen prior to AG 49-A.
( )The Asset Modeling and Reporting Task Force's comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its proposed second exposure draft of an actuarial guideline (AG) regarding asset adequacy testing.
( )The Index-Linked Variable Annuities Work Group's comment letter to the National Association of Insurance Commissioners’ Index-Linked Variable Annuity (A) Subgroup of the Life Insurance and Annuities (A) Committee on a proposed actuarial guideline (AG) regarding Index-Linked Variable Annuities.
( )The C-2 Longevity Risk Work Group's comments to the National Association of Insurance Commissioners’ Longevity Risk (A/E) Subgroup on reserve implications of expanding the scope of C-2 Longevity Risk-Based Capital requirements to include longevity reinsurance contracts in the proposed Principle-Based Reserving framework.
( )The Academy sent a letter to the chairs of the National Association of Insurance Commissioners’ (NAIC’s) Life Actuarial (A) Task Force and Life Risk-Based Capital (E) Working Group indicating an “as-is” availability of its economic scenario generator, the Academy Interest Rate Generator (AIRG) for those regulators and interested parties wishing to modify the AIRG parameters as a basis for producing an updated model.
( )The Life Underwriting and Risk Classification Work Group's comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing the output of the working group’s recommendations and assessment to understand the current state of the life insurance industry and its use of accelerated underwriting.
( )A Life Practice Council ad-hoc task force submitted comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on a proposed actuarial guideline (AG) regarding asset adequacy testing.
( )The Variable Annuity Reserves and Capital Work Group's comments to the Life Actuarial Task Force on amendment proposal form (APF) 2021-11 regarding the proposed assumption disclosure requirements in VM-31.
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Comments developed by a task force of the Life Practice Council to the Actuarial Standards Board (ASB) on the exposure draft of Actuarial Standard of Practice (ASOP) No. 24.
( )The Annuity Reserves and Capital Work Group’s (ARCWG) proposed draft of revised NAIC VM-22 requirements for fixed annuity principle-based reserving framework. The following draft includes a version demonstrating the changes to the current VM-22 framework as well as a clean version of the document.
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The Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Actuarial Task Force (LATF) on a Valuation Manual amendment proposal form regarding asset adequacy testing for reinsurance requirements.
( )The C1 Work Group’s comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on its exposures of proposed bond factors and instructions.
( )The C-2 Longevity Risk Work Group’s comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on the exposure (2021-13-L), Longevity Factors and Instructions.
( )The Life Reserves Work Group’s comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Actuarial Task Force (LATF) on an amendment proposal form (APF 2020-10), which addresses inclusion of future mortality improvement (FMI) into principle-based reserving (PBR) valuation.
( )The Life Underwriting and Risk Classification Work Group’s letter on Colorado Senate Bill 21-169 aimed at unfair discrimination in insurance, addressing potential concerns of the legislation’s impact on life insurance.
( )The Academy’s Economic Scenario Generator Work Group’s (ESGWG) comment letter submitted to the National Association of Insurance Commissioners' Life Actuarial Task Force regarding its recent ESG exposures.
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