Actuaries involved in the revision discussed changes to the ASOP, including new guidance on trends in assumptions, assumption margins, discount rates, sensitivity testing, reinsurance ceded, the use of cash flows from other financial calculations, separate account assets, and changes in methods, models, or assumptions.
Professionalism Counts, September 2022
It’s time once again to make sure you are on track to complete your continuing education (CE) requirements by the end of the year. Because 2023 is the first year for which actuaries must meet the recently revised Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS), it’s worth taking a closer look at the requirements.
Comment letter from the Casualty Practice Council, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 20, Discounting of Property/Casualty Unpaid Claim Estimates.
Comment letter from the Committee on Property and Liability Financial Reporting, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves.
Work Groups Submit LIBOR/SOFR Comment Letter to NAIC Life Actuarial (A) Task Force
The Academy’s Annuity Reserves and Capital Work Group, Variable Annuity Reserves and Capital Work Group, and Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on APF 2022-04 Swap Spreads and the transition from LIBOR to SOFR.
Work Group submits ESG presentation to NAIC Life Actuarial (A) Task Force
The Academy’s Economic Scenario Generator Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force Subgroup on Economic Scenario Generator (ESG) Stylized Facts for Equities.
Life Index-Linked Variable Annuity Work Group Submits Comments on Proposed Actuarial Guideline ILVA
The Academy’s Index-Linked Variable Annuity Work Group submitted comments to the National Association of Insurance Commissioners’ Index-Linked Variable Annuity (A) Subgroup on its fifth exposure draft of the proposed Actuarial Guideline ILVA, Nonforfeiture Requirements for Index Linked Variable Annuity Products.
