MAV - Market-Adjusted Valuation

  • Year? - BIS - ICS – Market-adjusted Valuation – Executive Summary - 2p
  • 2017 1205 - Swiss Re - Valuing Insurance Liabilities for Market Adjusted Valuation with Cost of Capital Margin over Current Estimate - 17p
  • Actuarial
  • SOA - 
    • 2015 03 - SOA - Update on Regulatory Developments, by Francis de Regnaucourt - 5p
    • 2016 05 - SOA - Emerging Global Capital Standards for Insurance, by Liz Dietrich and Ian Adamczyk - 4p
    • 2017 - SOA - The Insurance Capital Standard (ICS) Moves Forward. by Tom Herget - 3p
  • 2016 0710 - IAIS - Risk-based Global Insurance Capital Standard, Version 1.0 - Public Consultation Document - Comments due by 19 October 2016 - 175p - [BonkNote]
    • 4.1 Market adjusted valuation (MAV) approach - Comments - 276p
  • 2017 0117 - IAIS - MAV Discounting - 19p
    • Whether there is a need for liability bucketing and if so the nature of that liability bucketing,  i.e. should there be a different approach to the adjustment depending on the nature of the liabilities 
    • Summary comparison of options considered
  • Donald R. Sondergeld:  Our topic is related to surrender values of individual life and annuity products and not to group annuity contracts, which for many years have included a market value adjustment in determining surrender values.
    • I'm sure some of you have read the feature article in the December, 1985 Best's Review on New Product Profitability. It was titled, "A Tale of Two Countries", and was written by Fred Richardson, F.S.A., President of the Hartford Life Insurance Companies.
      • That article compares the historical development of cash value products in the United States and the United Kingdom, and indicates the lessons that can be learned from our British relatives.
      • The major ones are the need for market adjusted cash values and the use of cash flow matching.

1986 - SOA - Market Value Adjusted Products - 22p

  • <WishList - December, 1985 Best's Review on New Product Profitability. It was titled, "A Tale of Two Countries", and was written by Fred Richardson, F.S.A., President of the Hartford Life Insurance Companies.>