Life and Health Actuarial Task Force
November 30 – December 2, 2007
The Life and Health Actuarial Task Force met on Friday, Saturday and Sunday, November 30, December 1and 2, 2007.
During this meeting, the Life and Health Actuarial Task Force:
- Discussed in detail and revised the proposed changes to the SVL.
- Discussed in detail and revised substantial portions of the valuation manual.
- Planned conference calls during the next quarter to work on the following projects:
- Discuss possible revisions to a new proposed actuarial guideline for establishing reserves for variable annuities (AG VACARVM);
- Discuss a proposed model regulation and changes in Actuarial Guideline XXV to address issues with mortality experience on pre-need life insurance;
- Release for comment the revised SVL and make further changes, if needed;
- Continue working on the development of a valuation manual.
- Received and considered comments relative to the Task Force’s work on proposing modifications to the SVL and producing a valuation manual. In addition to regulators and numerous individuals and companies, the following non-regulatory organizations were active in the discussion:
- Established a deadline for comment of December 31, 2007, for all documents released for comment, except the proposed revisions to the SVL and the valuation manual.
- Decided to stop accepting comments on modification to the SVL and the valuation manual until the Task Force is ready to release them for comment.
Action Items: