Your One Stop Guide to all Principle-Based Reporting

Only available as part of a package

The valuation manual is a living document that continues to evolve. As more companies adopt Principle-Based Reserving (PBR) and file PBR Actuarial Reports, regulators have observed gaps and inconsistencies across the industry. As a result, PBR reporting requirements (VM-31) have expanded significantly in 2020 and still continue to evolve. This session will provide attendees with everything they need to fill out their PBR reports for both Life business and Variable Annuity business. We will dig into the new changes effective for 2020 reporting and approved changes for 2021, and compare and contrast the Life and VA requirements to help companies identify areas that can be leveraged between the two. In addition, we will share insights from regulators, consultants, and company actuaries on what to include or exclude in your report.

Rachel C Hemphill FSA,MAAA,FCAS

Rachel Hemphill is the PBR Team Lead in the Financial Regulation Division at the Texas Department of Insurance. Prior to joining the TDI, Rachel Hemphill was the Chief Systems Actuary at the California Department of Insurance, heading the CDI’s Office of Principle-Based Reserving.  Rachel's teams first at the CDI and then at the TDI are active in PBR Actuarial Report Reviews as well as in NAIC task force work for Valuation Manual revisions.

Angela McShane FSA,MAAA,CERA

Senior Actuarial Consultant; Ernst & Young LLP

Angela is a Manager in the Insurance and Actuarial Advisory Services practice of Ernst & Young LLP’s Financial Services Office. She is based in New York and has 7+ years of experience working in both consulting and industry. She serves as an advisor to medium and large insurance companies and is focused on Financial Reporting. Angela has experience in pricing, assumption setting, modeling, model validation, governance, and GAAP and statutory financial reporting. She has focused on Principle Based Reserves for the past several years, including leading VM-20 implementations and validations at life insurance companies. In addition to her work, she has written articles and volunteered her time with a PBR NAIC task force, and serves on the Board of ASNY.Angela is a Fellow of the Society of Actuaries (FSA), a Chartered Enterprise Risk Analyst (CERA) and a Member of the American Academy of Actuaries (MAAA).

Benjamin Morris Slutsker FSA,MAAA

Corporate Vice President & Actuary; New York Life Insurance Co

Ben Slutsker is a Corporate Vice President & Actuary for New York Life Insurance Company, where he works in the Office of the Chief Actuary and is responsible for overseeing actuarial regulatory issues. In past roles, Ben has worked in Individual Life Financial Reporting, New York Life International, BOLI/COLI Pricing, and previously led the implementation of Principles-Based Reserving. Ben currently chairs the American Academy of Actuaries Annuity Reserves Work Group and the Society of Actuaries Life Financial Modeling Exam Curriculum Committee. In addition, he is a member of the Academy Life Practice Council, Life Valuation Committee, and PBR Implementation Work Group.Ben is a Fellow of the Society of Actuaries (FSA) and a Member of the American Academy of Actuaries (MAAA).

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Webcast Session
08/31/2020 at 11:45 AM (EDT)  |  Recorded On: 09/10/2020
08/31/2020 at 11:45 AM (EDT)  |  Recorded On: 09/10/2020
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