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
Credibility
Life Valuation Subcommittee practice note intended to provide information on common practices and approaches related to actuarial issues for which credibility theory or a related approach may be…
Practice Note
Embedded Values (EV) Reporting
Life Financial Reporting Committee practice note to assist actuaries working for life insurance companies with the calculation of embedded values.
Practice Note
Identification and Valuation of Embedded Derivatives in Modified Coinsurance and Similar Insurance Arrangements
Life Financial Reporting Committee practice note describing some of the common practices that might be considered by actuaries in the United States in the application of the Financial Accounting…
Practice Note
Anticipated Common Practices Relating to AICPA Statement of Position (SOP) 05-1: Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance Contracts
Practice note relating to AICPA Statement of Position 05-1 on insurance accounting for deferred acquisition costs in connection with modifications or exchanges of insurance contracts.
Topics: Financial Reporting
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 Benefits Practice note on common…
Practice Note
NAIC Model Regulation XXX
NAIC Model Regulation XXXLife Valuation Subcommittee practice note updating the initial practice note written in 2001 regarding the Actuarial Standard of Practice No. 40 (ASOP 40), and current…
Topics: NAIC
Practice Note
Application of C-3 Phase II
Application of C-3 Phase IIPractice note for the Application of C3 Phase II provides guidance to actuaries dealing with the implementation of the new C-3 Phase II (VA RBC) requirements for Variable…
Topics: Annuities
Practice Note
Reinsurance Reserve Credit
Reinsurance Reserve CreditLife Valuation Subcommittee practice note providing a description of some of the current practices that could be used by actuaries in the United States regarding reinsurance…
Topics: Reinsurance
Practice Note
Application Of C-3 Phase II and VACARVM
Life Practice Note Steering Committee practice note intended to provide guidance to actuaries dealing with the implementation of the new risk-based capital and reserving requirements for Variable…
Practice Note
Anticipated Common Practices Relating to AICPA Statement of Position 03-1: Accounting and Reporting by Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts
Life Financial Reporting Committee practice note on anticipated common practices relating to AICPA Statement of Position 03-1: accounting and reporting by insurance enterprises for certain…
Topics: Financial Reporting