Academy Statements on Principle-Based Reserving


The Academy has assembled materials to assist actuaries and regulators as the U.S. moves into the implementation phase of PBR for life insurance. Click here to access these materials. Public statements made by the Academy related to PBR are below.

Life Reserves Modeling Subgroup report on a possible tail risk test. (September 30, 2007)
Modeling Efficiency Work Group reports to the LHATF. (September 30, 2007)
Reinsurance Work Group report on PBR risk transfer requirements. (September 30, 2007)
Summary of a meeting with a New York State Insurance Department official on life PBR. (September 30, 2007)
Comments from Life, Health, and Casualty Practice Councils on life and health insurance principles proposed by the NAIC's Principle-based Reserving (EX) Working Group. (August 17, 2007)
Life Reserves Working Group response to the New York Insurance Department's comments on the Requirements for Principles-Based Reserves for Life Products from the LRWG. (July 31, 2007)
Valuation and Law Manual Team draft valuation manual plus accompanying report and slide presentation and news release. (June 30, 2007)
Life Financial Soundness/Risk Management (SVL2) Committee presentation to LHATF on SVL2/PBA. (June 1, 2007)
LRWG report to LHATF and an update to the March LHATF exposure of the Requirements for Principle-based Reserves for Life Products. (June 1, 2007)
Updated version, in requirement format, of a proposed draft model regulation for review opinions of principle-based valuations. (March 31, 2007)
Life Financial Soundness/Risk Management (SVL2) Committee presentation on PBA efforts. (March 31, 2007)
FS/RM chart showing life groups working ont he principle-based project. (March 31, 2007)
FS/RM provides updated definitions of principles to LHATF. (March 31, 2007)
Life Practice Council presentation to the NAIC Principles-Based Reserving (EX) Working Group with a status report summarizing Council plans for prinicple-based activities in 2007. (March 12, 2007)
Presentation on the modernization in insurance regulation given by the Kansas Insurance Department. (March 10, 2007)
Life Reserves Work Group report  to LHATF regarding principles-based reserves for universal life with a secondary guarantee based on a shadow fund. (April 1, 2006)