Description: The South African life insurance industry contains the largest life insurance market in Africa, it is highly sophisticated and highly regulated. In the years 2020 and2021, the industry suffered significant mortality losses due toCovid-19. What can we learn from this experience in South Africa?

Description: After years of discussion and debate, PrinciplesBased Reserving (PBR) is finally a reality. Small insurance companies have a unique opportunity to decide between electing for the company-wide exemption or adopting the PBR methods. This article discusses the benefits and challenges of the options available to small insurers under VM-20 as well as best practices that have been found along the way.