Life Reserves Work Group

The Life Reserves Work Group is responsible for developing a principle-based reserve framework for life products that will serve as the minimum statutory reserve standard for all life products subject to a principle-based valuation.

Staff liaison: Ian Trepanier

Chairperson: Leonard Mangini

Vice Chairperson: Gary Falde
Erik Anderson
Mary Bahna-Nolan
Peter Boyko
Elizabeth Brill
Larry Bruning
Kui Chen
Armand De Palo
Arnold Dicke
Robert DiRico
Amy Eby
Benjamin Farnsworth
Bruce Friedland
R. Dale Hall
Jane Hamrick
Alijawad Hasham
Karen Jiang
Carrie Kelley
Barbara Lautzenheiser
Chanho Lee
John Marsteller
Stephen O'Brien
Nicholas Pasyanos
Roland Rose
Karen Rudolph
Grace Senat
Benjamin Slutsker
Stephen Strommen
Keith Terry
Kenneth Vande Vrede
Michael Villa
Christopher Whitney

Related Publications

Life Reserves Work Group Amendment Proposal Form for VM-20 on revising the approach to determine the credited rate for index accounts. 

(June 01, 2018)
Life Reserves Work Group APF to the NAIC Life Actuarial (A) Task Force regarding changes to VM-20 on aggregation of mortality segments for the purpose of determining credibility.  (February 21, 2018)
Life Reserve Work Group update to the Life Actuarial (A) Task Force on the aggregation of mortality segments for determining the level of credibility in VM-20.  (November 27, 2017)
Life Reserves Work Group (LRWG) comment letter to the National Association of Insurance Commissioners’ Life Actuarial Task Force exposed VM-20 Amendment Proposal Form (APF) on term insurance riders, labeled VM Maintenance Agenda Item 2017-40. (August 28, 2017)
Life Reserves Work Group amendment proposal form to the National Association of Insurance Commissioners Life Actuarial Task Force regarding the VM-20 wording on modeling of policy loans and separate account assets. (May 12, 2017)
Life Reserves Work Group comments on the National Association of Insurance Commissioners' (NAIC) Life Actuarial Task Force exposed amendment proposal form related to additional definitions under VM-20. (May 02, 2017)
Life Reserves Work Group comments on the National Association of Insurance Commissioners' (NAIC) Life Actuarial Task Force exposed amendment proposal form related to VM-20 Section 2G on model segmentation and the proposed alternative guidance note.
(May 02, 2017)
Life Reserves Work Group (LRWG) comments to the NAIC's Life Actuarial Task Force (LATF) on the exposed NAIC staff Amendment Proposal Form (APF) on VM-20 product aggregation. (July 05, 2016)
Life Reserves Work Group (LRWG) comments to the NAIC's Life Actuarial Task Force (LATF) on the Minnesota Department of Commerce Amendment Proposal Form (APF) on post-level term profit assumptions. (May 18, 2016)
Life Reserves Work Group (LRWG) comments to the NAIC’s Life Actuarial Task Force (LATF) on currently exposed amendment proposal forms on net premium reserves. (April 25, 2016)
Life Reserves Work Group (LRWG) comments to the NAIC’s Life Actuarial Task Force (LATF) on currently exposed amendment proposal forms on term and universal life insurance with secondary guarantees. (April 25, 2016)
Life Reserves Work Group amendment proposal to the NAIC regarding the definition and clarification of the term “modeled reserve” in the VM-20. (October 21, 2015)
Life Reserves Work Group Amendment Proposal regarding treatment of due premiums in VM-20 reserve calculation. (March 27, 2014)
Life Reserves Work Group revised amendment proposal regarding treatment of due premiums in VM-20 reserve calculation.
(February 05, 2014)
Life Reserves Work Group memo to the NAIC’s Life Actuarial Task Force of VM-20 on current and long-term spread tables. (December 13, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of letters of credit and other similar assets in the VM-20 reserve calculation.

(August 22, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of due premiums in VM-20 reserve calculation.

(August 22, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of due premiums in VM-20 reserve calculation.

(August 22, 2013)

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of individually underwritten certificates issued under a group life insurance contract.

(August 22, 2013)
Life Reserves Work Group amendment proposal form outlining a modification to the current deterministic reserve in VM-20 submitted to the Life Actuarial Task Force. (April 04, 2013)