Understanding VM-20 Results

August 2017

The Society of Actuaries’ Financial Reporting Section, Product Development Section, Smaller Insurance Company Section and the Committee on Life Insurance Research announce the release of a new study examining options for analyzing these periodic changes in VM-20 reserve amounts. Performed by a Milliman team, the research surveys the sources of reserve movement and volatility, surveys other reporting regimes for potential attribution approaches, conducts interviews with financial reporting actuaries regarding their use of attribution methods and provides a demonstration of a proposed attribution approach for a case study for VM-20 valuations.



Understanding VM-20 Results


Thank You

The Sponsors would like to thank the financial reporting actuaries that participated in the study and the following individuals that served on the Project Oversight Group:

Leonard Mangini—Chair
Gilbert Booher
Grace Chang
Thomas Chamberlain
Donna Megregian
Kevin Piotrowski
Ronora Stryker, SOA Research Actuary
Jan Schuh, SOA Sr. Research Administrator

Questions Or Comments?

If you have comments or questions, please send an email to research@soa.org.