SVL Interest Rate Modernization Work Group comments on a revised weighting methodology proposal to the NAIC's VM-22 (A) Subgroup. (
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AG 43/C-3 Phase II Work Group comments to the NAIC’s Variable Annuities Issues (E) Working Group on version 1 of the draft specifications for the second quantitative impact study. (
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Standard Valuation Law Interest Rate Modernization Work Group comments to the NAIC’s Life Actuarial Task Force (LATF) on its “VM-22: Maximum Valuation Interest Rates for Income Annuities” exposure draft. (
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Non-Guaranteed Elements Work Group comments to the New York state Department of Financial Services on Proposed 11 NYCRR 48 (Insurance Regulation 210) on life insurance and annuity non-guaranteed elements. (
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Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on proposed operational risk factors and growth charge for the life risk-based capital (RBC) formula. Appendix attached.
( )Nancy Bennett, Senior Life Practice Council Fellow, and Rich Owens, member of the Academy C1 Work Group, presented an update on portfolio adjustments to the C1 factors for corporate bonds to the NAIC Investment Risk-based Capital Working Group (
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John Miller and Chris Olechowski, co-chairs of the Annuity Reserves Work Group, provided a non-variable annuity PBR update to LATF’s VM-22 Subgroup. (
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Mary Bahna-Nolan, chairperson of the Joint Academy Actuaries Life Experience Committee and SOA Preferred Mortality Oversight Group, presented an update on guaranteed and simplified issue and preneed mortality tables to the Life Actuarial Task Force (LATF). (
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Tricia Matson, chair of the Longevity Risk Task Force, gave an update to LATF on the task force’s work, including creating a methodology for recognizing longevity risk in statutory reserves and risk based capital (RBC) and reviewing regulatory and company approaches to longevity risk. (
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Mary Bahna-Nolan, chairperson of the Joint Academy Actuaries Life Experience Committee and SOA Preferred Mortality Oversight Group, presented an update on the new joint initiative of the Academy and the SOA in formulating a work group to address the Life Actuarial Task Force (LATF) request for information on accelerated underwriting mortality under VM-20. (
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The Principle-Based Reserves Checklist Subgroup of the Model Governance Work Group released a model governance checklist, which is offered as a resource for practicing life actuaries involved in actuarial model governance. (
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Academy Senior Life Fellow Nancy Bennett presentation to the National Conference of Insurance Legislators (NCOIL) National Meeting that provides an update and background on the implementation of principle-based reserving (PBR). (
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AG 43/C-3 Phase II Work Group comments to the Variable Annuities Issues (E) Working Group on the exposed proposal to revise Actuarial Guideline 43 (AG 43) and C-3 Phase II. (
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Work Group Comments on Proposed VM-22 Maximum Valuation Interest Rates for Income Annuities Draft
SVL Interest Rate Modernization Work Group comments to the NAIC's VM-22 (A) Subgroup on its exposure draft on the VM-22 maximum valuation interest rates for income annuities.
( )Work Group Comments on Valuation Rate Buckets for Proposed VM-22 for Income Annuities Draft
SVL Interest Rate Modernization Work Group comments on valuation rate buckets to the NAIC's VM-22 (A) Subgroup on its exposure draft on the VM-22 maximum valuation interest rates for income annuities.
( )The Longevity Risk Task Force gave a presentation to the Financial Stability Oversight Council (FSOC) Nonbank Designations Committee on longevity risk in annuity and life insurance. (
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Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on proposed operational risk factors and growth charge for the life risk-based capital (RBC) formula. (
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C1 Work Group comments to the NAIC's Investment Risk Based Capital Working Group on proposed RBC factors for fixed income securities for the NAIC’s life RBC formula. (
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Tax Work Group comments to the NAIC's Statutory Accounting Principles (E) Working Group in response to the Issue Paper No. 15X concerning the implementation of principle-based reserving (PBR). (
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C1 Work Group comments to the NAIC's Investment Risk Based Capital Working Group in response to the “Proposal for Life Bond Granularity and Related Issues” dated Sept. 6, 2016. (
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