2023 ImpACT Conference - Session 6K: Fixed Annuity PBR Update and Potential Implications 10.24.23 Recording

Non-variable annuity principle-based reserving (PBR) VM-22 has a proposed effective date of January 1, 2026. The change in reserving standards may be impactful to annuity writers due to the transition from formulaic to principles-based reserves. Explore an in-depth view of the most up to date VM-22 draft including: Behind the scenes look of the drafting goals, timelines, and key decisions from the Chair of the Academy’s Annuity Reserves and Capital subcommittee Overview of key VM-22 features including the stochastic reserve, deterministic reserve, and exclusion testing Comparison to VM-21 and lessons learned from VM-21 implementation that will be applicable to VM-22 TRACK: Valuation (LTDI, IFRS 17, Tax, Statutory/ Regulatory, Etc.)