Description: Article summarizes how life insurers have financed redundant XXX and AXXX reserves in the past and how methods may change under principle-based reserves.

Description: Discusses some of the new and different ideas being considered by the Wilcox Committee that is working on the Unified Valuation System, UVS, especially as they relate to smaller companies.

Description: A change in the way in which statutory life insurance and annuity reserves are determined in the United States is heading toward adoption. Currently, the Actuarial Opinion and Memorandum Regulation AOMR combines formulaic factor-based minimum reserves with reserve adequacy testing. The American Academy of Actuaries Academy is working with the National Association of Insurance Commissioners NAIC to finalize the basic framework of a principles-based reserve PBR methodology, based on a gross premium valuation, for life insurance products. The NAIC Life and Health Actuarial Task Force LHATF has also been considering Actuarial Guideline VACARVM that would introduce a PBR method for the valuation of variable annuity contracts.

Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.

Description: This report summarizes a research project examining the proposed principle-based framework for reserves and capital for life insurance. The report is a review and analysis of case studies submitted by participating companies in response to proposed changes in individual life insurance statutory reserve and risk-based capital methodologies.

Description: This article discusses issues with ties to principle-based valuation.

Description: Presented at October 1996 Annual Meeting. This session focuses on implementation and regulatory interpretation issues.

Description: The New 2001 CSO: Implications for Universal Life Plans

Description: Metadata for entire issue

Description: Compares Term VM-20 modeled reserves at low credibility factors.