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.
( )The Life Operational Risk Work Group submitted 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.
( )The C1 Work Group submitted 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.
( )The Tax Work Group submitted 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).
( )The latest issue of PBA Perspectives features updates on principle-based reserving as well as regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance.
( )The C1 Work Group submitted 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.
( )The Longevity Risk Task Force gave a presentation to the Federal Reserve Insurance Policy Group on longevity risk in annuity and life insurance.
( )The Life Illustrations Work Group submitted comments to the Actuarial Standards Board (ASB) on revisions to ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation.
( )The Nonforfeiture Modernization Work Group submitted comments to the NAIC's Life Actuarial Task Force (LATF) with regard to potentially updating standard nonforfeiture laws.
( )The Stress Testing Work Group submitted comments to the NAIC's Stress Testing (E) Subgroup on providing assistance to help meet its charge.
( )The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 (A) Subgroup on Non-Jumbo and Jumbo Sample Calculations on valuation interest rates.
( )Art Panighetti, a member of the Longevity Risk Task Force, presented an update to LATF on the task force’s work, including creating a working definition of “longevity risk,” analyzing U.S. mortality tables and reviewing regulatory and company approaches to longevity risk.
( )Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented an update on guaranteed issue and preneed mortality table to the Life Actuarial Task Force.
( )John Miller, chairperson of the Annuity Reserves Work Group, provided a non-variable annuity PBR update to LATF’s VM-22 Subgroup.
( )The Life Products Committee submitted comments to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP) that applies to the pricing of life insurance and annuity products.
( )The Lifetime Income Risk Joint Task Force submitted a comment letter to the Department of Labor concerning proposals for increasing retiree income options, with a focus on additional safe harbors that encourage delivering lifetime income.
The Life Illustrations Work Group submitted comments to the NAIC's IUL Illustrations (A) Subgroup regarding the extension of Actuarial Guideline 49 (AG 49) to all inforce life insurance illustrations.
( )The Life Operational Risk Work Group submitted comments to the NAIC's Operational Risk (E) Subgroup on how operational risk, including a prospective growth charge, might be better reflected in the Life Risk-Based Capital Formula.
( )The latest issue of PBA Perspectives features updates on principle-based reserving as well as regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance.
( )The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 Subgroup of the Life Actuarial Task Force (LATF) in a question-and-answer format on the determination of statutory valuation interest rates.
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