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: 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: Reflections of a Regulatory Actuary by Larry Gorski

Description: In November 2020 the Life Actuarial (A) Task Force unanimously passed APF 2020-08 which adds a third permissible method in the Valuation Manual to determine company experience mortality rates. This article describes the three methods

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

Description: The 2020 edition of the Valuation Manual permits mortality data aggregation thereby enhancing credibility but also has accompanying requirements and addresses calculation of company experience rates.

Description: This article summarizes the key changes to VM-31 requirements in the 2020 version of the Valuation Manual for both life and variable annuities, and compares and contrasts the requirements for each. In addition, the article offers insights into common issues and recommendations for VM-31 reports from the viewpoints of a regulator, consultant, and company actuary.

Description: This article highlights features of the SOA's Regulatory Web Resource. The intent is to encourage greater use of the Resource among section members.

Description: This article summarizes recent proposed changes to the Valuation Manual that might take effect for 2019 valuations for PBR business.

Description: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.