Description: This is a compilation or risk management terms garnered from a survey of risk professionals supplemented with analysis of firm-level information on significant risks as reported in 10-K financial statements. Results indicate the existence of significance differences in terminology. The dominating pattern observed is a dichotomy between internal and external perceptions. Also observed is a difference between terms used by actuarial professionals and traditional risk managers.

Description: At the conclusion of the first part, attendees will be able to describe sources of reserve redundancy for products under Principle Based Reserve (PBR) and products under Commissioners' Annuity Reserve Valuation Method (CARVM). Such products include Term Life, Whole Life, Universal Life, and Fixed Annuity with and without rider. We will also review sources of capital redundancy from the C-1 factor under Risk-Based Capital (RBC) and assets such as Unrated Asset Credit Fund can have high C-1 factor even if its risks are limited. At the conclusion of the second part, the attendees will learn about potential Reserve Relief reinsurance solutions. Such solutions can provide Reserve Relief for annuity and term life businesses, as well as potential innovative asset-side solutions. Asset managers can structure assets that the C-1 factor aligned with the corresponding risk.

Description: Both LDTI and IFRS 17 have introduced numerous new metrics with most companies having only crossed the finish line, just complying with what's needed for reporting due the complexity and large amounts of data required to simply comply. How do you leverage all the work you did to get proper business insights across the organization that tie back to these reporting metrics?

Description: The session will focus on International Financial Reporting Standards 17 (IFRS17) implementation, including methodologies (classifications, different measurement models, fulfillment cash flows, and contract service margins) for various U.S. products, operational challenges, controls, IFRS17/GAAP comparisons and analytics.

Description: Is 2024 the year you need to implement U.S. GAAP Long-Duration Targeted Improvements for individual health insurance products? In this session, we will discuss implementation and the importance of working with accountants and IT to ensure a successful implementation. Some requirements will be a surprise to health actuaries.

Description: An overview of how the VM-31 requirements for documenting PBR approaches and assumptions can/should reflect the Actuarial Standard of Practice on Modeling, ASOP No. 56

Description: This article provides an update, as of October 2023, on Financial Reporting Section research projects in process and those recently completed.

Description: Sustainable operations under changes in accounting principles and solvency standards

Description: Generally accepted accounting practices (GAAP) reporting frameworks are more involved than ever before. From disclosures, to assumption changes, to interest rate movements, uncovering the drivers of income emergence can prove hard to do, and even trickier to communicate. This session will revisit how the updated standards create layers of complexity and offer ways to side step these obstacles to generate useful earnings analysis by various drivers.

Description: This session will explore governance considerations for insurance carriers leveraging machine learning models. During the session, panelists will share insights on the evolving predictive model and AI regulatory landscape, as well as techniques for developing or enhancing AI governance frameworks that comply with emerging regulatory guidance.