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CIA Annual Meeting

This session provides a comprehensive update on various topics discussed at the CIA Annual Meeting, including CICA Section 3855 on asset measurement, the use of actuarial judgment under GAAP, recent releases and CLIFR related sessions. It also covers updates on best estimate assumptions for expenses and changes to section 2300 and 2100. Additionally, the session addresses the exposure-draft on section 2330 and CLIFR sessions on investment, equity return, reinvestment rates, and measuring and managing currency risks.

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CIA Annual Meeting

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Presentation Transcript

  1. CIA Annual Meeting LOOKING BACK…focused on the future

  2. General Update Micheline Dionne • CICA Section 3855 on asset measurement Byron Corner • Use of Actuarial Judgement under GAAP Ty Faulds

  3. General Update • Recent releases • CLIFR related sessions • Fall Letter

  4. General Update – Recent releases • Best Estimate Assumption for Expenses January 2005 • Revision to section 2300 - June 2005 • No major changes from Exposure draft released in February • Paragraph on Statistical Fluctuations to be modified to reflect comments and moved to section 2100 to broaden its applicability • French version reviewed for compatibility with English version and readability

  5. General Update – Recent releases • Exposure-draft on Section 2100 – Not released yet • Statistical fluctuation paragraph to allow Stochastic modelling but prevent being used as an offset to change in experience • Draft Educational Note on Margins for adverse deviations – February 2005 • To be finalized upon adoption of changes to section 2100 • To be referred to in the Fall Letter

  6. General Update – Recent releases • Exposure-draft Section 2330 – June 2005 • Comments period to August 31st, 2005 • Session 5610 tomorrow

  7. General Update – CLIFR related Sessions • CLIFR on investment – session 5610 at 10h15 tomorrow • Equity return • Reinvestment rates • Measuring and managing currency risks – session 5404 at 10h15 tomorrow

  8. General Update – Fall Letter • Reference to draft Ed. Note on MfADS • Early implementation of Section 2330, if not adopted for year-end • Calibration of Interest rates firmer guidance – 2005 AA seminar • Currency – Session 5404 • Use of Actuarial Judgement • Best estimate assumption in a volatile environment • Change in CTE levels • Long-Term Equity returns – session 5610

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