Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date, model robustness and common simplifications.

Description: The article describes changes to the computation of tax reserves as a result of the Tax Cuts and Jobs Act.

Description: This article describes the effect of different valuation interest rates and levels of surplus on income tax paid by life insurance companies via Phase 1 of the Federal Income Tax Act of 1959.

Description: Addresses U.K. actuarial discussion regarding “maturity guarantees”, i.e., the reserves necessary to support promises contained in investment-linked contracts.

Description: Changes to AG 43 and what that might mean for tax purposes. Also, summary of IRS Notice 2016-63 (provides safe harbor tax guidance on use of 2017 CSO tables).

Description: This article helps companies better understand the currently proposed upcoming VM-22 regulation by comparing the VM-22 measurement model to LDTI MRBs. The article highlights key considerations as companies plan for adoption of these two measurement models. These considerations should help inform a company’s strategy related to the business impacted by these standards.

Description: Feature article discussing the Life Actuarial Task Force (LATF) recent exposure of the National Association of Insurance Commissioners’ (NAIC) Valuation Manual.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: This article summarizes VM-31 updates to the 2018 and 2019 Valuation Manuals, and considerations for PBR Reports based on findings from the 2017 submissions.

Description: Discusses Aug. 23, 2007, meetings in Salt Lake City, Utah, about principles-based approach for both reserves and risk-based capital, RBC.