ASB News

ASB Approves Exposure Draft of New Enterprise Risk Management ASOP

Category: ASB News
The Actuarial Standards Board (ASB) of the American Academy of Actuaries approved an exposure draft of a new ASOP on enterprise risk management to replace ASOP Nos. 46 and 47, Risk Evaluation in Enterprise Risk Management and Risk Treatment in Enterprise Risk Management, respectively. The propos ...
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ASB Releases 2022 Annual Report

Category: ASB News
The Actuarial Standards Board released its 2022 Annual Report, which highlights the board’s accomplishments throughout the year. In 2022, the ASB adopted two revised ASOPs, approved seven exposure drafts for comment, and approved proposals to revise three existing ASOPs.   ...
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ASB Adopts New ASOP No. 57; Approves Exposure Draft of ASOP No. 27 Revision

Category: ASB News
The ASB adopted new ASOP No. 57, Statements of Actuarial Opinion Not Based on an Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Related Actuarial Items. A conversion of Actuarial Compliance Guideline (ACG) No. 4, Statutory Statements of Opinion Not Including ...
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ASOP No. 10 Revision Adopted; Second Exposure Draft of ASOP No. 29 Approved

Category: ASB News
The ASB adopted a revision of ASOP No. 10, now titled U.S. GAAP for Long-Duration Life, Annuity, and Health Products. The ASOP provides guidance to actuaries when performing actuarial services related to the preparation or review of insurance company financial statements in accordance with U.S. gen ...
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ASB Approves Exposure Draft of a Conversion of Actuarial Compliance Guideline No. 4 into Proposed ASOP

Category: ASB News
The ASB approved an exposure draft of a conversion of Actuarial Compliance Guideline (ACG) No. 4, Statutory Statements of Opinion Not Including an Asset Adequacy Analysis by Appointed Actuaries for Life or Health Insurers, into a proposed actuarial standard of practice (ASOP) now titled Statements ...
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ASB Approves Proposed ASOP No. 41 Revision for Exposure

Category: ASB News
The ASB approved an exposure draft of a proposed revision of Actuarial Standard of Practice (ASOP) No. 41, Actuarial Communications. The ASOP applies to actuaries when issuing actuarial communications in any form (written, electronic, or oral) within any practice area. The standard does not apply t ...
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ASB Approves Proposed ASOP No. 36 Revision and Proposed ASOP No. 28 Scope Revision for Exposure

Category: ASB News
The ASB approved an exposure draft of a proposed revision of Actuarial Standard of Practice (ASOP) No. 36, now titled Statements of Actuarial Opinion Regarding Property/Casualty Loss, Loss Adjustment Expense, or Other Reserves. The ASOP applies to actuaries when performing actuarial services with r ...
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ASB Votes to Discontinue Development of Proposed Setting Assumptions ASOP

Category: ASB News
During its June 2022 meeting, the ASB voted to discontinue development of a proposed actuarial standard of practice (ASOP) on setting assumptions and disbanded the task force with appreciation for their development efforts. The proposed standard was initially exposed in December 2016 with the goal ...
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