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.
Capital
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 Resources
Practice Note
Optional Retrospective Application of ASU 2010-26 Acquisition Costs
Life Financial Reporting Committee practice note Optional Retrospective Application of ASU 2010-26 Acquisition Costs.
Topics: Financial Reporting
Practice Note
Application of C-3 Phase II and Actuarial Guideline XLIII
Variable Annuity Practice Note Work Group practice note on the Application of C-3 Phase II and Actuarial Guideline XLIII.Date Published: 04/06/2011
Practice Note
Market Consistent Embedded Values
Market Consistent Embedded ValuesLife Financial Reporting Committee practice note regarding Market Consistent Embedded Values.
Topics: Financial Reporting
Practice Note
Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards
Financial Reporting Committee practice note on Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards.
Topics: Financial Reporting
Practice Note
Scenario and Cell Model Reduction
Scenario and Cell Model Reduction Modeling Efficiency Work Group practice note regarding scenario and cell model reduction.
Practice Note
Common Practices Relating to FASB Statement 133, Accounting for Derivative Instruments and Hedging Activities, As It Relates to Variable Annuities with Guaranteed Benefits
Common Practices Relating to FASB Statement 133, Accounting for Derivative Instruments and Hedging Activities, As It Relates to Variable Annuities with Guaranteed BenefitsLife Financial Reporting…
Practice Note
Addendum to C-3 Phase II and Actuarial Guideline XLIII
Addendum to C-3 Phase II and Actuarial Guideline XLIII Life Practice Note Steering Committee’s addendum to the July 2009 C-3 Phase II and Actuarial Guideline XLIII Practice Note, providing guidance…
Practice Note
C3 Phase III
C3 Phase III Life Reserves and Capital Practice Note Work Group practice note on applying principles of the September C3 Phase III report to the NAIC.
Topics: NAIC
Practice Note
Application of C3 Phase II and AG XLIII
Application of C3 Phase II and AG XLIIIPractice note prepared by a work group set up by the Life Practice Note Steering Committee of the American Academy of Actuaries (VA Practice Note Work Group),…
Practice Note
FAS 157 and FAS 159
FAS 157 and FAS 159 Life Financial Reporting Committee practice note regarding compliance with Financial Accounting Standards (FAS) 157 and 159.
Topics: Financial Reporting