Description of Experience - Prospective Sample Clauses

Description of Experience - Prospective. With the transfer of the business and administration to Kanawha in 1995 no future gain or loss after 1997 accrues to MetLife and there was no prospective AC attributable to these policies. Actuarial Contribution Memorandum Page 49 November 16, 1999 526 VII. C. METLIFE US - GROUP MEDICAL CONVERSIONS
Sample 1
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Description of Experience - Prospective. For all policies that were included in the Closed Block, the Closed Block assumptions (which are documented in the Closed Block Memorandum) were used for the calculation of prospective ACs with the following exceptions: - Expenses - AC calculations were based on expenses in current business plans rather than the expenses charged to the Closed Block. - Prospective Earned Rates - Closed Block assets represent a subset of the total assets supporting the block of business. In order to calculate prospective earned rates, all assets supporting the line were included. - Federal Income Taxes - In the Closed Block calculations, the effective tax rate was increased to account for the payment of certain state income taxes. For AC purposes, these state income taxes are accounted for in the derivation of the Exhibit 6 expense factor. Also, the amortization of existing DAC tax balances was excluded from the closed block, but is considered in calculation of prospective AC. For policies that are not in the Closed Block, prospective assumptions were developed based on the most recently available data and in a manner consistent with the development of historical assumptions. Actuarial Contribution Memorandum Page 18 November 16, 1999 495 III. C. CANADA - TRADITIONAL LIFE POLICIES 1. Description of Business Most of the Canadian Branch business of MetLife was transferred to Clarica Life (formerly known as The Mutual Life Assurance Company of Canada) in July 1998. Only a small number of the Traditional Life policies were owned by New York residents, were not transferred and remain in force with MetLife.
Sample 1
Description of Experience - Prospective. All MetLife US Industrial policies were included in the Closed Block. The Closed Block assumptions (which are documented in the Closed Block Memorandum) were used for the calculation of prospective ACs with the following exceptions: - Expenses - As also noted in Section II, unit expenses for the 1993 and later calendar years were graded from 1993 levels into MetLife's prospective business plan expenses. These expense assumptions were used rather than the expenses charged to the Closed Block. - Prospective Earned Rates - Closed Block assets represent a subset of the total assets supporting the block of business. In order to calculate prospective earned rates, all assets supporting the line were included. - Federal Income Taxes - In the Closed Block calculations, the effective tax rate was increased to account for the payment of certain state income taxes. For AC purposes, these state income taxes are accounted for in the unit expense factors. Actuarial Contribution Memorandum Page 23 November 16, 1999 500 IV. B. CANADA - INDUSTRIAL LIFE POLICIES 1. Description of Business The Industrial Life business is composed of participating policies issued from 1901 through 1964. It can be viewed in four segments: Premium Paying/Fully Paid Up, RPU, ETI, and Miscellaneous Riders. Premium Paying refers to business in the original contractual premium paying period. Although future premiums have been waived, some policy values differ based on the contractual premium paying status. The largest of these is the Premium Paying/Fully Paid Up segment. It includes primarily dividend paying, participating life insurance policies along with any associated dividend options. The RPU and ETI segments represent policies that have elected these non-forfeiture options. Miscellaneous Riders include riders such as Accidental Death and Loss of Eyesight or Limb.
Sample 1
Description of Experience - Prospective. In general, the average after tax gain as a percentage of premium was determined for the period of renewal years (1989 - 1998) and applied against projected in force to project future earnings for 50 years after which earnings are immaterial. Future persistency was based on recent experience and includes conversion activity, which has been negligible. Actuarial Contribution Memorandum Page 54 November 16, 1999 531 VII. E. METLIFE US - DIRECT MARKETED GROUP TERM LIFE
Sample 1
Description of Experience - Prospective. For each modeled policy form, prospective after-tax profits as a percentage of premium were assumed to equal the average historical after-tax profit margins of the policy form for the five years ending with the Statement Date. These profit margins were applied to a 50-year projection of future premiums. Future premiums were projected using calendar year lapse rates developed from recent experience assuming a closed block of business, and included anticipated maturity rates based on the inforce as of the Statement Date. The present value of future profits was discounted to the Statement Date using an after-tax earnings rate for this LOB. Actuarial Contribution Memorandum Page 61 November 16, 1999 538 VII. I. CANADA - INDIVIDUAL HEALTH POLICIES
Sample 1
Description of Experience - Prospective. For Structured Settlements, Terminal Funding and Closeout contracts, prospective ACs were calculated by product, based on the level interest scenario Asset Adequacy Analysis performed as of the Statement Date. The projection period was through the year 2050, which is consistent with Asset Adequacy Analysis assumptions. Contributions to surplus beyond the year 2050 were determined to be immaterial. Prospective ACs were expressed as a percentage of the statutory reserves as of the Statement Date. The prospective AC for GICs assumed that the pricing achievable spread continues to the expiry of the current guarantee period. No renewals were projected. Treasuries Plus contracts assumed a continuation of the short term rates in the future. These contracts have no explicit expiry date. The prospective AC assumed a projection period of 20 years. Group profits occurring more than 20 years into the future on contracts without life contingent annuity payments were considered speculative and no future contributions to surplus were calculated beyond 20 years. Experience assumptions for all Department 11 products are based on company business plans. Contributions to surplus over the projection period were discounted to the Statement Date at the after-tax earned rates. Actuarial Contribution Memorandum Page 71 November 16, 1999 548 VIII. C. METLIFE US - GROUP ANNUITY SEPARATE ACCOUNTS
Sample 1
Description of Experience - Prospective. The present value of future statutory after-tax profits through the year 2050 was discounted to the Statement Date using an after-tax earnings rate for this LOB. Projected amounts beyond the year 2050 were determined to be immaterial. Actuarial Contribution Memorandum Page 92 November 16, 1999 569 X. B. METLIFE US - WITHOUT LIFE CONTINGENCIES
Sample 1
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Description of Experience - Prospective. The present value of future after-tax profits for the lesser of contract maturity or the year 2050 was discounted to the Statement Date using an after-tax earnings rate for this LOB. Projected amounts beyond the year 2050 were determined to be immaterial.
Sample 1

Related to Description of Experience - Prospective

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  • Disclosure to FERC or its Staff Notwithstanding anything in this Section 17 to the contrary, and pursuant to 18 C.F.R. § 1b.20, if FERC or its staff, during the course of an investigation or otherwise, requests information from one of the Interconnection Parties that is otherwise required to be maintained in confidence pursuant to this Interconnection Service Agreement, the Interconnection Party, shall provide the requested information to FERC or its staff, within the time provided for in the request for information. In providing the information to FERC or its staff, the Interconnection Party must, consistent with 18 C.F.R. § 388.122, request that the information be treated as confidential and non-public by FERC and its staff and that the information be withheld from public disclosure. Interconnection Parties are prohibited from notifying the other Interconnection Parties prior to the release of the Confidential Information to the Commission or its staff. An Interconnection Party shall notify the other Interconnection Parties to the Interconnection Service Agreement when it is notified by FERC or its staff that a request to release Confidential Information has been received by FERC, at which time any of the Interconnection Parties may respond before such information would be made public, pursuant to 18 C.F.R. § 388.112.

  • Incorporation of Exhibits The Exhibits identified in this Agreement are incorporated herein by reference and made a part hereof.

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