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.

Life
Capital

Capital

Life and annuity capital adequacy and recommendations to improve life Risk-Based Capital (RBC) requirements.
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Financial Reporting

Financial Reporting

Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
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Product

Product

Life and annuity product features and their design.
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Reserves

Reserves

The minimum statutory reserve standard for all life and annuity products.
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More Life Issues

Life Resources

Research Paper

Committees Release White Paper on Hedging & Risk Management

The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white…
Date Published: 11/18/2024
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Research Paper

Asset Adequacy Testing Considerations for Year-End 2020

The Life Practice Council’s Asset Adequacy Testing Task Force’s (AATTF) discussion paper titled, Asset Adequacy Testing Considerations for Year-End 2020.
Date Published: 12/01/2020
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Research Paper

PBR: Reserve Credits for YRT Reinsurance: The Range of Interpretations of Three Amendment Proposal Forms (APFs), A Survey of Companies

As PBR is implemented, the NAIC is monitoring the PBR Actuarial Reports filed by insurers for evidence of problems that might require changes to the Valuation Manual. In its 2017 reviews of Life PBR…
Topics: NAIC Reinsurance
Date Published: 09/18/2020
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Research Paper

PBR: Reserve Credits for YRT Reinsurance A Field Test of Three Amendment Proposal Forms (APFs), Time Zero and Projected Reserves

With the introduction of principle-based reserving (PBR) by the National Association of Insurance Commissioners (NAIC), insurers are required to hold the higher of (a) formulaic reserves based on…
Date Published: 05/08/2020
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Research Paper

Long-term Care (LTC) Combination Product Valuation Practice Note

Work Group Long-Term Care Combination Product Valuation Practice Note to provide information to actuaries on current and emerging practices in which their peers are engaged with respect to the…
Topics: Long-Term Care
Date Published: 07/01/2019
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Research Paper

Reserve Estimates under Longevity Stress: Results from a Survey of Life Insurance Companies

Longevity Risk Task Force update to Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting.
Date Published: 08/29/2018
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Comment / Letter

Reserving for LTC Combo Riders: Results from a Survey of Life Insurance Companies

The Long-Term Care Combination Product Valuation Work Group updated the Long-Term Care (LTC) Actuarial Working Group of the National Association of Insurance Commissioners on the LTC Combination…
Date Published: 11/10/2017
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