Life
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Capital
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 Resources
Practice Note
Annuity Principle-Based Reserves Under VM 22 Practice Note
This practice note provides practical guidance for actuaries on implementing principle-based reserve valuation for non-variable annuity products under the VM-22 framework, as adopted by the NAIC. It…
Practice Note
US GAAP Fair Value Measurement & Fair Value Option Practice Note
The U.S. GAAP Fair Value Measurement & Fair Value Option practice note, developed by the Life Generally Accepted Accounting Principles (GAAP) Committee, explains ASC Topic 820 and related…
Practice Note
Life Subcommittee Releases ASOP No. 2 Practice Note
The Life Practice Council’s Non-Guaranteed Elements Subcommittee released a public policy practice note, Actuarial Standard of Practice (ASOP) No. 2: Non-Guaranteed Elements for Life and Annuity…
Topics: Public Policy
Practice Note
Asset Adequacy Analysis (updated for 2024)
This update of the 2017 Asset Adequacy Analysis practice note by the Academy’s Life Valuation Committee provides assistance to actuaries who are faced with the requirement of asset adequacy…
Practice Note
Application of ASU 2018-12 to the Accounting for Long-Duration Contracts under U.S. GAAP
The Long-Duration Contracts Work Group of the Academy’s Risk Management and Financial Reporting Council released the practice note , which covers aspects of the application of Accounting Standards…
Policy Paper
Committee Releases White Paper on Considerations in Market Risk Benefits
The Life Financial Reporting Committee released a white paper, Considerations in Market Risk Benefits, that focuses on identification, valuation, and financial reporting of market risk benefits; a…
Practice Note
Work Group Releases Practice Note on Long-Term Care Insurance Combination Product Valuation
The Academy’s Life Long-Term Care Combo Product Valuation Practice Note Work Group released Long-Term Care Insurance Combination Product Valuation, a practice note to that addresses the application…
Comment / Letter
Variable Annuity Reserves and Capital Work Group’s VM-21 Practice Note Supplement
The Academy’s Variable Annuity Reserves and Capital Work Group’s VM-21 Practice Note Supplement, Implementation of Requirements for Principle-Based Reserves for Variable Annuities – 2022 Edition of…
Topics: Annuities
Practice Note
Life Illustrations Work Group Updates Life Insurance Illustrations Practice Note
The Life Illustrations Work Group’s updated practice note is revised to better reflect current practices actuaries are using when complying with ASOP No. 24, Compliance with the NAIC Life Insurance…
Practice Note
Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers (Including Considerations for Principle-Based Reserves)
Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers (Including Considerations for Principle-Based Reserves) Life Valuation…
Topics: Solvency