Market–Consistent Valuations of Life Insurance Business: The U.K. Experience
Research Projects – Life Insurance
The Society of Actuaries' Financial Reporting Section is pleased to make available the following report examining the experience of U.K. life insurers in meeting new valuation requirements based on a market–consistent approach. Performed by Chris O'Brien of the Centre for Risk and Insurance Business Studies at Nottingham University Business School, this research:
- explains the new valuation approach and its rationale;
- identifies issues faced by life insurers in implementing the new approach; and
- discusses how insurers addressed these issues and how insurers' practices varied.
The Financial Reporting Section Council would like to thank the following individuals that served on the Project Oversight Group:
- Larry Rubin
- Jesse Schwartz
- Henry Siegel
- Ronora Stryker
- Jan Schuh
- Darin Zimmerman
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