Description: A session detailing how to calculate, understand and explain reserve movements in a PBR world. The session will illustrate how to: Calculate expected and actual reserve movements Analyze the results (SOE/GBS/EBS)Explain the results to a range of audience members, including a non-actuarial focus At the conclusion of the session, attendees will be able to evaluate reserve calculation, explain reserve movements and explain PBR earnings.

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.