Actuarial Careers’ Post

Life insurers: Long-duration targeted improvements will be effective for all entities for fiscal years beginning after Dec. 15, 2024. Are you prepared? Baker Tilly has partnered with actuarial firm Lewis & Ellis to host a webinar that will answer many of your LDTI questions from both an accounting and actuarial perspective. Register now and join us on Mar. 21 from 1-2 p.m. ET. #LDTI #lifeinsurers #letsgothere

Our Senior Consulting Actuary, Nicholas Frongillo, ASA, has been featured alongside nine other talented prospects in the captive space to keep an eye on in the future, according to Captive Review. Check out the complete list below. https://lnkd.in/ec-ykJTJ #CaptiveInsurance #CaptiveReview #RiskManagement #Actuarial #Actuary #Insurance

Solvent exit planning for insurers is moving up the regulatory agenda. As more #DBpensions consider insurance solutions, will a requirement on insurers to prepare such plans provide additional comfort to #trustees? Bradley Chadwick and Will Stagg at Grant Thornton UK LLP look at the proposed new rules, the impact on #insurers and provide tips for producing a good solvent exit analysis. #pra

Workers’ compensation insurance has characteristics that are distinctly different from other lines of business, particularly its longer-tailed nature. Do the investment portfolios of workers’ compensation insurers also differ from those of other property and casualty writers in the industry? Read more in our latest issue of Perspectives: https://hubs.ly/Q02qyG3Q0

Today, the spotlight is on our FS Insurance Actuarial team. Learn more about the exciting and fascinating actuarial work in this video. #KPMGpeople #FinancialServices #KPMGlife

Actuarial (insurance) 101: Ep15 What's one method of estimating IBNR? Part 3 -> Bornhuetter-Ferguson (BF) Method This method combines elements of both the loss ratio (LR) method and the chain-ladder method... ... but also has a distinct difference from both. How it works? Example: An insurer has $1 million of earned premium (EP) over an accident period for a given portfolio. Actuary initially assumes that period for that portfolio will run at an ultimate loss ratio (ULR), of e.g. 50%. Similarly to LR method, BF method's initial expected ultimate losses for the accident period = 50% x $1mil (EP) = $500k Now as time and claims develop, this is where it differs from the LR method and the chain-ladder method. For LR and chain-ladder method, estimated IBNR depends on the REPORTED claims. If reported claims are $100k, LR method still has ultimate of $500k, so IBNR is $400k (= $500k - $100k). For the BF method, reported claims do NOT impact the estimation of IBNR. Instead, it depends on LDFs and the actuary's initial expected ultimate. Example: If after two development periods, the reserving actuary estimated that 75% of losses were expected to be reported, and so 25% of ultimate losses are expected to be unreported, then... IBNR = 25% * {initial expected ultimate losses} = 25% * EP * ULR = 25% * $1mil * 50% = 25% * $500k = $125k When would this method be preferable over chain-ladder? Thoughts?

Hi all see note below regarding CII exam sessions.

Revision days for CII exams - details below

Insurance planning is essential for a robust financial strategy. At Aspen Wealth Management, we assess your needs to recommend the appropriate coverage—property, life, disability, long-term care, and more. We also assist with annuities and health plans during annual enrollment, utilizing “stress testing” to protect your family’s financial stability. If we identify any gaps, we’re here to help you address them: https://bit.ly/49llA9T #insuranceplanning #financialadvisors

Insurance planning is essential for a robust financial strategy. At Aspen Wealth Management, we assess your needs to recommend the appropriate coverage—property, life, disability, long-term care, and more. We also assist with annuities and health plans during annual enrollment, utilizing “stress testing” to protect your family’s financial stability. If we identify any gaps, we’re here to help you address them: https://bit.ly/49llA9T #insuranceplanning #financialadvisors