Life Committee News

ASB Adopts Revised Introduction and Numbers It ASOP No. 1

The ASB adopted a revised version of the Introductory Actuarial Standard of Practice. The Introduction was revised to clarify the meaning of such terms as “must” and “should”; to include a definition of “deviation”; and to make other revisions to the language that were not substantial bu ...
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ASB Approves Principle-Based Reserves Exposure Draft

The ASB approved the exposure draft, Principle-Based Reserves for Life Products. The proposed standard applies to actuaries when performing professional services on behalf of life insurers, including fraternal benefit societies, in connection with the calculation or review of reserves for individual ...
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