Life
The Academy’s Life Practice Council (LPC) is dedicated to providing policymakers and regulators with unbiased technical expertise.
From crafting principle-based regulatory frameworks to optimizing risk-based capital strategies, the LPC is at the forefront of innovation in the life insurance industry.
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Life and annuity capital adequacy and recommendations to improve life Risk-Based Capital (RBC) requirements.
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Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
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Life News
Health Committee News
ASB Adopts Final Revision of ASOP No. 5
The ASB recently adopted a final revision of ASOP No. 5, Incurred Health Claim Liabilities. This ASOP provides guidance to actuaries when estimating or reviewing incurred claims when preparing or…
Topics: ASB News
Date Published: 04/27/2017
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Life Committee News
ASB Approves Exposure of Proposed ASOP on Principle-Based Reserves for Life Products
The ASB approved an exposure draft of a proposed new ASOP titled Principle-Based Reserves for Life Products. The proposed ASOP will apply to actuaries when performing actuarial services on behalf of…
Topics: ASB News
Date Published: 04/14/2017
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Life Resources
ASOP
Pricing Reinsurance or Similar Risk Transfer Transactions Involving Life Insurance, Annuities, or Long-Duration Health Benefit Plans (Exposure Draft)
[glossary_exclude] TRANSMITTAL MEMORANDUM TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Pricing…
ASOP
Proposed Revision of ASOP No. 7 – Analysis of Life, Health, or Property/Casualty Insurance Cash Flow Risk
[glossary_exclude] TRANSMITTAL MEMORANDUM TO: Members of the Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in the Life,…
ASOP
Proposed Revision of ASOP No. 24 – Compliance with the NAIC Life Insurance Illustrations Model Regulation (Second Exposure Draft)
[glossary_exclude] TO:Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Compliance with the NAIC Life…
ASOP
Statements of Actuarial Opinion Not Based on an Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Related Actuarial Items
[glossary_exclude] September 2022 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Statements of…
ASOP
Proposed Revision of ASOP No. 10 – U.S. GAAP for Long-Duration Life, Annuity, and Health Products (Exposure Draft)
[glossary_exclude] TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in U.S. GAAP for Long-Duration Life,…
ASOP
Proposed Revision of ASOP No. 24 – Compliance with the NAIC Life Insurance Illustrations Model Regulation (Exposure Draft)
[glossary_exclude] TRANSMITTAL MEMORANDUM June 2021 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in…
ASOP
Proposed Revision of ASOP No. 2 – Nonguaranteed Elements for Life Insurance and Annuity Products (Second Exposure Draft)
[glossary_exclude] TRANSMITTAL MEMORANDUM June 2020 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in…
ASOP
Proposed Revision of ASOP No. 22 – Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Other Liabilities (Second Exposure Draft)
[glossary_exclude] TRANSMITTAL MEMORANDUM March 2020 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in…
ASOP
Proposed Revision of ASOP No. 11 – Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports (Exposure Draft)
[glossary_exclude] TRANSMITTAL MEMORANDUM November 2019 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested…
ASOP