The Annuity Illustration Work Group submitted a comment letter to the NAIC Annuity Disclosure (A) Working Group on proposed changes to the Annuity Disclosure Model Regulation #245.
( )The Life Reinsurance Work Group submitted a comment letter to the Life Actuarial (A) Task Force on exposed amendment proposal forms 2019-17 and 2019-24, which pertain to yearly renewable term reinsurance.
( )The C-2 Work Group provided an update to the Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting.
( )The Longevity Risk Task Force provided an update on its field study results, key assumptions, and next steps to the Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting.
( )The PBR Governance Work Group gave an update on Academy PBR involvement to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting.
( )The Annuity Reserves Work Group gave an update on the VM-23 proposed timeline to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting.
( )The SVL Interest Rate Modernization Work Group gave an update to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting.
( )The Life Reserves Work Group gave a presentation on the PBR treatment for individually underwritten group insurance to the Life Actuarial (A) Task Force.
( )The Life Reserves Work Group gave a presentation to the Life Actuarial (A) Task Force on Amendment Proposal Form 2019-29, which deals with VM-20 and clearly defined hedging strategy requirements.
( )The PBR Review Procedures Work Group released an exposure draft of a practice note: Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers, Including Considerations for Principle-Based Reserves. Comments are due to the Academy on Monday, July 1, 2019.
( )The Life Practice Council sent a letter to the Life Actuarial (A) Task Force addressing concerns that the NAIC is moving in a direction that would deviate from a principle-based approach for life insurance.
( )The Life Illustrations Work Group submitted a comment letter to the NAIC's IUL Illustration (A) Subgroup, addressing questions raised regarding the illustrations of Indexed Universal Life (IUL) products under Actuarial Guideline 49.
( )The Lifetime Income Risk Joint Committee, Retirement System Assessment and Policy Committee and Social Security Committee submitted a comment letter to the Bipartisan Policy Center on its 2016 Report of the Commission on Retirement Security and Personal Savings.
( )The Life Reserves Work Group submitted a comment letter to the Life Actuarial (A) Task Force regarding exposed APF 2019-04, which seeks to provide clarification for expense allowance formulas for universal life with secondary guarantee (ULSG).
( )The Life Experience Committee sent a comment letter to the Life Actuarial (A) Task Force to address questions that were raised during the NAIC Fall 2018 National Meeting regarding the current process used to develop the AG38 and VM-20 annual mortality improvement scale recommendations.
( )The RBC Tax Reform Work Group submitted a comment letter to the NAIC Life Risk-Based Capital Working Group on their exposed guidance document on the Interpretation of 2018 Life Risk-Based Capital Results.
( )The Role of the Actuary Subgroup sent a comment letter to the Variable Annuities Capital and Reserve (E/A) Subgroup on the use of the terms "actuary" and "qualified actuary" in draft revisions to VM-21.
( )The Life Reinsurance Work Group provided comments to the NAIC's Life Actuarial (A) Task Force regarding the possible impact of varying interpretations of current VM-20 guidance for determination of future nonguaranteed yearly renewable term reinsurance rates.
( )The PBR Assumptions Resource Manual Work Group released a step-by-step, sample framework for setting, updating, and governing life insurance assumptions for PBR and other valuation frameworks.
( )The Life Principle-Based Approach Practice Note Work Group released an updated version of the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for 12/31/2018 valuations.
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