Article
13 March 2026 - by Yan Fridman, Zi Xiang Low, Galin Mitchener, Zohair Motiwalla, Bill Sayre, Shang Xu
With the initial filing for Actuarial Guideline 55 just around the corner, we offer a case study that illustrates key implications for insurers.
Article
11 July 2025 - by Aatman Dattani, Zi Xiang Low, Yan Fridman, Karthik Yadatore, Zohair Motiwalla
We highlight some key areas for insurers to consider for the upcoming principle-based reserving statutory framework for non-variable annuities under VM-22.
Article
10 May 2024 - by Yan Fridman, Zi Xiang Low, Zohair Motiwalla, Ricardo Trachtman, Karthik Yadatore
We look at the key elements of a principle-based-reserving framework for statutory reserving, known as “VM-22” and under review by NAIC.
Article
15 November 2023 - by Zi Xiang Low, Manabu Shoji, David Wang
Understanding the similarities and differences between the fixed indexed annuity products in Japan and the United States can aid appropriate product strategy and design.
Article
14 October 2020 - by Aatman Dattani, Zi Xiang Low, Zohair Motiwalla, Katherine Wang, Karthik Yadatore
This report analyzes, understands, and discusses the impact of the upcoming Principle-Based Reserving on non-variable deferred annuities.
Article
07 October 2020 - by Zohair Motiwalla, Zi Xiang Low, Aatman Dattani, David South
In the third quarter of 2020, Milliman refreshed a survey that establishes currently held market practice in the application of “VM-21: Requirements for Principles-Based Reserves for Variable Annuities.”
Article
17 January 2020 - by Matt Cheung, Ian Laverty, Zi Xiang Low, Bill Matczak, Zohair Motiwalla
In the third quarter of 2019, Milliman conducted a survey to establish market practice in the application of VM21: Principle-Based Reserves for Variable Annuities.
Article
25 March 2019 - by Benjamin Buttin, Matthias Kullowatz, Zi Xiang Low, Zohair Motiwalla
The VM-21 Standard Projection is essentially a complete overhaul of the existing Actuarial Guideline 43 Standard Scenario framework.
Article
06 June 2017 - by Shamit Gupta, William Hines, Zi Xiang Low, Craig Reynolds, Karthik Yadatore
This report discusses the impact of the Financial Accounting Standards Board’s proposed changes to GAAP accounting standards on long duration insurance contracts, specifically on earnings and equity for several illustrative product types and the industry’s preparedness to adopt the new guidance.
