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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Financial Reporting
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
Comment / Letter
Comments to NAIC Groups Regarding the LRBCWG/VACRSG Exposure
The C-3 Subcommittee and Variable Annuity Reserves and Capital Subcommittee provided comments to the NAIC’s Life Risk-Based Capital (E) Working Group (LRBCWG) and to the Variable Annuities Capital…
Comment / Letter
Subcommittee Comments on AG49-A to LATF
The Life Illustration Subcommittee submitted comments to NAIC’s Life Actuarial (A) Task Force (LATF) on recent amendments to APF AG 49-A Section 7.
Topics: Life
Comment / Letter
LPC Presents on AG 55 to LATF
The Life Practice Council submitted comments to NAIC’s Life Actuarial (A) Task Force (LATF) on the template exposure for AG 55.
Topics: Life
Comment / Letter
Comment Letter to NAIC on AI Systems Evaluation Tool
Providing an actuarial perspective on responsible use of AI in insurance, vice presidents from the Academy’s casualty, health, life, and risk management and financial reporting councils sent a…
Comment / Letter
Committee Presents to NAIC on Covariance
The Life Investment and Capital Adequacy Committee submitted a comment letter to NAIC’s Life Risk-Based Capital (E) Working Group (LRBC) in response to questions raised during LRBC’s June meeting.
Topics: Life
Comment / Letter
C-1 Subcommittee Comments on CLO
The C-1 Subcommittee provided an update to NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on collateralized loan obligation (CLO) C-1 factor modeling for the Structured…
Topics: Life
Comment / Letter
Practice Councils Comment to NAIC on RBC Principles
The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Practice Council submitted a joint comment letter to NAIC’s Risk-Based…
Topics: Risk-Based Capital
Comment / Letter
Comment Letter to the NAIC’s Life Actuarial (A) Task Force VM-22 Subgroup
The Annuity Reserves and Capital Subcommittee sent a comment letter to the NAIC’s Life Actuarial (A) Task Force VM-22 Subgroup on the Chair Exposure of VM-22 Retrospective Application.
Topics: NAIC
Comment / Letter
Subcommittee Comments to NAIC on Proposed Task Force Reorganization
The Life Investment Analysis Subcommittee submitted comments to the NAIC’s Financial Condition (E) Committee on the proposed reorganization of the Valuation of Securities (E) Task Force.
Topics: Life
Comment / Letter
Life Subcommittee Comments to Illustration Subgroup on APF AG 49-A
The Life Illustrations Subcommittee sent comments, and an accompanying redline to the NAIC’s Life and Annuity Illustration (A) Subgroup on its exposure of APF AG 49-A Section 7 exposed 04.02.25.
Topics: NAIC