Actuarial – Page 6

Q: Who Can Call Themselves an Actuary? Quoting Humpty-Dumpty, “When I use a word it means just what I choose it to mean,” the speaker predicted that the day is passing when the word “actuary” can be used by anybody to mean whatever that person chooses it to mean. Those who apply the word “actuary”…

Unified Valuation System 2000 – SOA – What Is the Unified Valuation System (UVS) and What Are its Origins?, by Donna C. Novak, Society of Actuaries – 3p 2001 – SOA – ENTERPRISE RISK MANAGEMENT MEETS UNIFIED VALUATION SYSTEM, Society of Actuaries – 21p The currently proposed principle-based capital and reserve methodologies devolved from the…

Illustration Actuary soa.org/sections/small-insurance/illustration-actuary-corner/ Back in Chicago on February 13, 1996, there was an ACLI meeting where Bob Wilcox, who is the Commissioner of Insurance in Utah, said that there were four guiding principles to the entire illustration actuary movement. He said the process has been going on for several years at the NAIC level to,…

AAA to Government AAA – American Academy of Actuaries Re: Initial Comments on Release Nos. 33-8933 & 34-58022 (File No. S7-14-08): Proposed Rule 151A 2005 06 – AAA to GAO – Questions from Phone Conference with GAO On March 31, 2005, American Academy of Actuaries – 5p 1. A brief background on broad categories of…

Mortality Tables The mortality table is the instrument by means of which are measured the probabilities of death and survival. 1940-Supplement NAIC Proceedings 1919 – Book – Sources and characteristics of the principal mortality tables, by Henry Moir – 98p The Actuarial Society of America It should be remembered that the CET Table was prepared to…

ERM – Enterprise Risk Management 2010 – SOA – Did Enterprise Risk Management Really Work? – The Case of Lincoln Financial Corporation, Scott Engle, Presented at 2010 Enterprise Risk Management Symposium, Society of Actuaries – 18p 2013 – SOA – ERM-ILA Model Solutions, Fall 2013, Society of Acuaries – 38p Learning Objectives: 2. The candidate will…

Duration This paper considers alternative interpretations of ‘Duration’ as a length of time, average life of cash flows and interest rate sensitivity as applied to UL policy cash values. The interest rate sensitivity of UL policy cash values, amplified by the corresponding cost of insurance sensitivity with declining interest income, suggests UL has always been…

Valuation and Non-forfeiture Nonforfeiture Second Standard Nonforfeiture Law – NAIC Standard Non-Forfeiture Law – SNFL Valuation Standard Valuation Law – SVL Valuation Actuary 1987 – SOA – Valuation Actuary Handbook – VAH 1987 – SOA – Valuation Actuary Handbook – VAH871 – Chapter 1 – Insurance Company Statutory Valuation, Society of Actuaries – 34p Valuation…

Premium – Actuarial – Universal Life The complications begin with a very simple question: What’s the premium for Universal Life? It could be almost anything. Then what’s the cash value? That depends on the premium. It is the relationship between the premium and cash value that determines the product characteristics of Universal Life. — Ben…

ESG – Economic Scenario Generator Academy’s Economic Scenario Generator Work Group 16. Discussed the ESG Implementation Timeline and Overview of Treasury Model Pat Allison (NAIC) reviewed the implementation timeline for the economic scenario generator (ESG) (Attachment TwentyFive). She noted that the first three milestones have been completed and reminded the audience that the presentation given to the…