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Life Actuarial (A) Task Force

2020 Membership

Mission

The mission of the Life Actuarial (A) Task Force is to identify, investigate and develop solutions to actuarial problems in the life insurance industry.

2020 Adopted Charges

  1. The Life Actuarial (A) Task Force will:

    1. Work to keep reserve, reporting, and other actuarial-related requirements current. This includes principle-based reserving (PBR) and other requirements in the Valuation Manual, actuarial guidelines, and recommendations for appropriate actuarial reporting in blanks. Respond to charges from the Life Insurance and Annuities (A) Committee and referrals from other groups or committees, as appropriate.
    2. Report progress on all work to the Life Insurance and Annuities (A) Committee and provide updates to the Financial Condition (E) Committee on matters related to life insurance company solvency. This work includes the following:
      1. Work with the American Academy of Actuaries (Academy) and the Society of Actuaries (SOA) to develop new mortality tables for valuation and minimum nonforfeiture requirements, as appropriate, for life insurance and annuities.
      2. Provide recommendations for guidance and requirements for accelerated underwriting, as needed.
      3. Evaluate and provide recommendations regarding the VM-21/AG 43 Standard Projection Amount, which may include continuing as a required floor or providing as disclosure. This evaluation is to be completed prior to year-end 2023.
      4. Monitor the work of the Variable Annuities Issues (E) Working Group, and work with any recommendations from the Variable Annuities Capital and Reserve (E/A) Subgroup.
      5. Work with the SOA on the annual development of the Generally Recognized Expense Table (GRET) factors.
      6. Provide recommendations and changes, as appropriate, to other reserve and nonforfeiture requirements to address issues, and provide actuarial assistance and commentary to other NAIC committees relative to their work on actuarial matters.
      7. Monitor international developments regarding life and health insurance reserving, capital and related topics. Compare and benchmark with PBR requirements.
  2. The Variable Annuities Capital and Reserve (E/A) Subgroup, a joint subgroup of the Life Risk-Based Capital (E) Working Group and the Life Actuarial (A) Task Force will:
    1. Monitor the impact of the changes to the variable annuities reserve framework and RBC calculation and determine if additional revisions need to be made.
    2. Develop and recommend appropriate changes, including those to improve accuracy and clarity of variable annuity (VA) capital and reserve requirements.
  3. The Experience Reporting (A) Subgroup will:
    1. Continue development of the experience reporting requirements within the Valuation Manual. Provide input, as appropriate, for the process regarding the experience reporting agent, data collection, and subsequent analysis and use of experience submitted.
  4. The IUL Illustration (A) Subgroup will:
    1. Consider enhancements to Actuarial Guideline XLIX—The Application of the Life Illustrations Model Regulation to Policies with Index-Based Interest (AG 49). Provide recommendations for modifications to AG 49 to the Life Actuarial (A) Task Force.
  5. The Longevity Risk (E/A) Subgroup, a joint subgroup of the Life Risk-Based Capital (E) Working Group and Life Actuarial (A) Task Force will:
    1. Provide recommendations for recognizing longevity risk in statutory reserves and/or risk-based capital (RBC), as appropriate. Complete by the 2020 Spring National Meeting.
  6. The VM-22 (A) Subgroup will:
    1. Recommend  requirements, as appropriate, for non-variable (fixed) annuities in the accumulation and payout phases for consideration by the Life Actuarial (A) Task Force.  A PBR methodology will be considered, as appropriate.
  7. The GI Life Valuation (A) Subgroup will: 
    1. Recommendations regarding valuation requirements for Guaranteed Issue Life business including any appropriate mortality table(s) for valuation as well as nonforfeiture. Initial recommendations are to be provided to LATF by the 2020 Summer National Meeting.

NAIC Support Staff: Reggie Mazyck/Eric King

Life Actuarial (A) Task Force

2020 Spring National Meeting
Life Actuarial (A) Task Force
Thursday, April 02, 2020
10:00 AM - 11:00 AM CDT

This meeting is cancelled due to the NAIC’s decision to suspend the Spring National Meeting. Read the full notice.

Life Actuarial (A) Task Force

2020 Spring National Meeting
Life Actuarial (A) Task Force
Thursday, April 02, 2020
1:00 PM - 2:30 PM CDT

This meeting is cancelled due to the NAIC’s decision to suspend the Spring National Meeting. Read the full notice.

Life Actuarial (A) Task Force

2020 Spring National Meeting
Life Actuarial (A) Task Force
Tuesday, April 07, 2020
1:00 PM - 2:30 PM CDT

This meeting is cancelled due to the NAIC’s decision to suspend the Spring National Meeting. Read the full notice.

Life Actuarial (A) Task Force 200227

Conference Call
Thursday, February 27, 2020
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 90 minutes

Discuss Valuation Manual Enhancements.


Life Actuarial (A) Task Force 200220

Conference Call
Thursday, February 20, 2020
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 1 hr

Discuss Valuation Manual Enhancements.


Life Actuarial (A) Task Force 200213

Conference Call
Thursday, February 13, 2020
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 1 hr

Discuss Valuation Manual Enhancements.


Life Actuarial (A) Task Force 200206

Conference Call
Thursday, February 06, 2020
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 1 hr

Discuss Valuation Manual Enhancements.


Life Actuarial (A) Task Force 200130

Conference Call
Thursday, January 30, 2020
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 1 hr

Discuss Valuation Manual Enhancements.


Life Actuarial (A) Task Force 200123

Conference Call
Thursday, January 23, 2020
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT
Expected Length of Call: 90 minutes

Discuss Valuation Manual Enhancements.


Life Actuarial (A) Task Force

2019 Fall National Meeting
Austin, Texas
Life Actuarial (A) Task Force
Thursday, December 05, 2019
8:00 AM - 4:30 PM CT

JW Grand Ballroom 7-8 - Level 4

Life Actuarial (A) Task Force

2019 Fall National Meeting
Austin, Texas
Life Actuarial (A) Task Force
Friday, December 06, 2019
8:00 AM - 11:00 AM CT

JW Grand Ballroom 1-4 - Level 4

Related NAIC Publications

Contacts

Media Inquiries
(816) 783-8909
news@naic.org


Reggie Mazyck
Life Actuary 
Phone: 202-471-3991

Please see the current Committee List for a complete list of committee members.

 

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