SOA Webinars
Wind of Change: Industry Developments Impacting Inforce VA Business
The variable annuity (VA) landscape is experiencing a wave of accounting and regulatory changes resulting in companies needing to further contemplate the resulting impacts and challenges facing these VA blocks. The industry must continue to evolve to integrate NAIC reform and GAAP Long Duration Targeted Improvement (LDTI) and ultimately consider solutions, such as reinsurance, to manage the business. A panel of industry leaders across different disciplines will consider the changing environment and share their perspectives on these developments that are impacting inforce variable annuity blocks.
At the conclusion of the webcast, attendees will be able to:
• Better understand the impacts and challenges caused by GAAP LDTI related to accounting volatility, disclosure requirements and data/technology system implementations
• Better understand the impacts and challenges caused by NAIC VA reform, how companies are reacting and resetting the way VA businesses are managed related to reserving, capitalization and hedging practices
• Identify solutions, such as reinsurance, to mitigate the accounting and regulatory changes that are impacting VA blocks
Kelly M Hennigan FSA,CFA (Moderator)
Vice President, Head of Investment Operations, Venerable
Kelly Hennigan has over 20 years of experience in the financial services industry in both asset and liability roles. She is Vice President and head of Investment Operations at Venerable. Previously, she worked at Voya Financial holding roles across Actuarial Transformation, Insurance Investments, and Voya Investment Management's Portfolio Management and Capital Markets areas. Prior to joining Voya in 2007, Kelly was a fixed income credit analyst at Hartford Investment Management Company. Kelly began her career with Hartford Life's actuarial program. Kelly received an M.S. in Mathematics with a concentration in Actuarial Science and a B.A. in Spanish from the University of Connecticut. She is a Fellow of the Society of Actuaries, the Special Interest Section representative on the SOA's Professional Development Committee (PDC), a contributing editor for The Actuary magazine, and past Chair of the SOA's Leadership & Development Section Council. Kelly is a frequent speaker at actuarial events and has authored pieces for The Actuary Magazine and The Stepping Stone. She also holds the Chartered Financial Analyst designation. Her community activities include previously serving as a mentor to students in the University of Connecticut's Leadership Legacy Program.
Qunying (June) Guan, FSA
Asst. Vice President & Actuary, Brighthouse Financial
Miles Robert Kaschalk, FSA
Venerable Annuity
Miles is Head of Corporate Development for Venerable Holdings where he leads the review and execution of a range of strategic initiatives, with a primary focus on reinsurance and M&A opportunities. He has over 11 years of experience working in a range of roles within the life insurance industry including as a Director & Actuary at Eldridge Industries (parent company of Security Benefit Life Insurance Company), a Vice President within Goldman Sachs’ Investment Banking division, an insurance credit analyst at Standard & Poor’s, and in an actuarial role at New York Life Insurance Company. Miles is a Fellow of the Society of Actuaries (FSA) and holds a B.S. in Actuarial Sciences and Economics from the University of Illinois Urbana-Champaign, where he graduated summa cum laude and with honors.
Bruce B. Rosner, FSA, MAAA
Senior Manager, Ernst & Young LLP
Bruce Rosner is a Senior Manager in the Insurance and Actuarial Advisory Services practice at Ernst & Young. He works in financial reporting, embedded value, modeling and hedging for annuities and life insurance products. He also co-founded and was formerly chair of the Modeling Section.