Resource Links

Marketing & Distribution

Competiscan - Quarterly insights on the competitive landscape of insurance in marketing and distribution.

Reinsurance

ReView (Reinsurance Point of View) Video Series - Short videos with industry leaders.

Smaller Insurance Company

Regulatory Updates
2025 New York Special Considerations Letter

Bermuda Regulatory Environment
The Bermuda Monetary Authority's consultation paper outlines proposed enhancements to the regulatory framework for commercial insurers, particularly targeting technical provisions, the Bermuda Solvency Capital Requirement (BSCR) computation, and long-term entity fees. Key proposals include changes to the risk margin calculation, adjustments to the Scenario-Based Approach (SBA) for better risk management, and revisions to BSCR parameters to better capture insurer risk profiles. Additionally, the BMA seeks to align fees for long-term insurers with those of property and casualty insurers to support effective supervision.

AG53: All eyes on assets in life insurance is an article that explores the evolving asset management trends in U.S. life insurance, focusing on private credit, structured assets, and increased allocations to illiquid investments like private equity and infrastructure. It discusses the regulatory developments surrounding these asset classes, including updates to risk-based capital rules, the modeling of collateralized loan obligations (CLOs), and new definitions for bonds starting in 2025. These changes aim to improve transparency and risk assessment of complex investments held by life insurers.

IFRS Insurance Contracts Home Page: Presents the findings on a study of insurance contracts.

Principle-Based Reserves (PBR) Corner: A collection of tools a small company actuary may find relevant to current topics and issues.

Current state of principle-based reserving for non-variable annuities (VM-22)
This introductory article discusses the current state of principle-based reserving (PBR) for non-variable annuities under the VM-22 framework. It outlines the proposed framework for statutory reserving, which includes the use of stochastic, deterministic, and standard projection reserves, as well as key tests like the Stochastic Exclusion Test. The article also mentions the timeline for implementation, including industry field testing and updates on capital requirements, and highlights the challenges and industry sentiment regarding aligning different capital frameworks for various annuity products.

How Does the Emerging Principle-based Reserving Framework for Non-variable Annuities Compare to Market Risk Benefits Under Long-duration Targeted Improvements?
This article discusses the emerging principle-based reserving (PBR) framework for non-variable annuities and compares it to market risk benefits under the Long-Duration Targeted Improvements (LDTI) framework. It addresses how these two regulatory approaches for calculating reserves differ in their treatment of risks and liabilities. The article emphasizes the need for actuarial professionals to understand both frameworks' impacts on insurance companies' financial reporting and reserve calculations, particularly in light of evolving accounting standards and market conditions.

Illustration Actuary Corner: Includes a variety of resources related to illustration actuary work.

Actuarial Modernization on a Shoestring Budget
Discusses how actuarial departments, especially in smaller organizations, can modernize their processes and improve efficiency without significant financial investments. It provides strategies such as focusing on stakeholder needs, optimizing current resources, improving communication, and fostering talent development. The piece emphasizes that even with limited resources, actuarial functions can add significant value by embracing small, incremental improvements.

Actuarial Standards Board Boxscore Newsletter
Highlights and reports on the ASB’s work in developing, updating, and promulgating actuarial standards of practice in the United States. Click the link to read past issues back to 2005.

Taxation

Taxing Times Special Issues

• New Regulations Provide Guidance on Computation and Reporting of Reserves
• IRS Addresses Tax Treatment of Non-Qualified Annuities Issued to Trusts

2021 Supplement to Life Insurance & Modified Endowments to the second edition of Life Insurance & Modified Endowments expands the content of the book to update material and address developments occurring since publication. The 2021 supplement replaces the earlier 2018 supplement.

IRS Publications: Get instant access to key taxation IRS publications.

Statutory Deferred Tax Monograph: Read detailed information on deferred taxes.