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: This article Provides a description of an IRS Directive that provides a safe harbor tax reporting position for computing tax reserves for pre-2018 tax years for annuity contracts subject to AG43 and VM-21 and life insurance contracts subject to VM-20 Principal Based Reserves methods. The safe harbor is required to be implemented on the 2017 tax return, with certain spread amounts in some cases to future tax years starting in 2018.

Description: This paper discusses and provides the 1958 CSO and CET Mortality Tables on the Age Last Birthday Basis.

Description: This is an article about the new 2001 CSO Valuation Mortality Table for new product development. From Small Talk Newsletter, November 2005, Issue No. 25.

Description: This article provides some insights into the creativity employed in cash flow testing to help ensure the sound survival of small companies that have limited means.

Description: Description of results from a survey of 35 insurance companies on the impact of proposed principle-based reserves for life insurance products.

Description: The purpose of this article is to discuss potential issues and considerations that may be encountered with the implementation of VM 20. Crucial considerations include the modeling software used, validation effort, assumptions used, complexity of the process, documentation, and run time. A key takeaway is that an integrated modeling platform with solid automation and asset-liability capabilities is imperative for addressing the issues and considerations encountered.

Description: This report studies the various benchmarks for analyzing the option-adjusted spreads of the major fixed income asset classes of life insurance companies. In addition, this report analyzes the historical benchmark performance against default rates for the asset class being benchmarked.

Description: This article discusses the calculation of mean reserves in certain cases where terminal reserves are negative and proposes a minimum reserve formula which produces adequate mean reserves in all cases.

Description: This paper demonstrates some of the basic principles and concepts inherent in the use of natural reserves to adjust earnings and to demonstrate differences in earning patterns obtained by several alternative approaches to a pure natural reserve adjustment of earnings.