Description: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

Description: Key considerations when modeling reinsurance to calculate reserves under PBR as well as a case study examining the impact of reinsurance structures on reserves.

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: Principle-based reserving requires modeling assets and liabilities across a range of scenarios to assess the sufficiency of assets when determining reserves, a major shift from the current formulaic framework. These changes will require valuation actuaries to evolve their skill set by heightening their focus on creative analysis, gaining deeper understanding of complex projections and clearly communicating drivers of reserve movements to stakeholders in order to influence strategic decision-making. The panelists will discuss the way that they see the role of the valuation actuary changing in response to the change in focus in reserving requirements. They will also discuss successful characteristics along with best practices for understanding and explaining results in the new paradigm. The audience will be given the opportunity to interact through polling and facilitated discussion of their stories, experiences and observations.