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 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
Presentation
C-3 Subcommittee Presents to NAIC on C3 Alignment
The C-3 Subcommittee provided an update on C3 Alignment to NAIC’s Life Risk-Based Capital (E) Working Group meeting.
Topics: Life
Presentation
C-1 Subcommittee Presents 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
Presentation
Academy Presents on Hybrid Life/LTC Products at SOA ValAct
Life Practice Council volunteers Rachel Marie Brewster, Robert Eaton, and Matthew Hantelman presented at the Society of Actuaries Valuation Actuary Meeting (SOA ValAct) in Chicago on hybrid life and…
Topics: Life
Presentation
Academy Presents on YRT Reinsurance at SOA ValAct
Life Practice Council volunteers Linda Lankowski, Catherine Murphy, and April Shen presented at the Society of Actuaries Valuation Actuary Meeting (SOA ValAct) in Chicago on yearly renewable…
Topics: Life
Presentation
Academy Presents on VM-22 at SOA ValAct
Life Practice Council volunteers Brent Dooley, Bruce Friedland, and Jonah von der Embse presented on VM-22-including background, regulation, calculations, high-level results from field test and…
Topics: Life
Presentation
Academy Presents on NAIC, PBR Issues at SOA ValAct
Life Practice Council volunteers Donna Claire, Linda Lankowski, and Craig Morrow presented on NAIC activities, with a primary focus on updates to principle-based reserve (PBR) valuations and…
Topics: Life
NAIC Report
LPC Updates LATF at NAIC Summer Meeting
The Life Practice Council (LPC) gave an update on its activities to the NAIC’s Life Actuarial (A) Task Force (LATF) at NAIC’s Summer National Meeting in Minneapolis.
Topics: Life
NAIC Report
LPC Presents to LATF on YRT Guarantees
The Life Practice Council presented to the NAIC’s Life Actuarial (A) Task Force (LATF) in response to a request to examine yearly renewable term (YRT) guarantees.
Topics: Life
Presentation
Subcommittee Presents to NAIC’s Life RBC Working Group
The C-3 Subcommittee presented to the Life Risk-Based Capital (E) Working Group on additional considerations for plans to address C-3 alignment, including a possible field test in 2026.
Topics: Life
Presentation
Committee Presents to NAIC’s Life RBC Working Group
The Life Investment and Capital Adequacy Committee presented to the Life Risk-Based Capital (E) Working Group on correlation across factors for life risk-based capital.
Topics: Life