Description: Compares Term VM-20 modeled reserves at low credibility factors.

Description: A template to calculate the NPR (Net Premium Reserve) in the Valuation Manual VM-20 (based on the December 2, 2012, version).

Description: Noteworthy Reads has a simple aim—to inform our readers of good sources on models; specifically, to point out sources beyond what we can include in a newsletter. Noteworthy Reads will select a few and provide mini-reviews.

Description: This SOA report’s purpose is to increase awareness of the importance of many reinsurance treaty terms/provisions, identify common treaty structures, practices, and/or solutions in reinsurance treaty construction and negotiation and illustrate how treaty terms have evolved over time. Lessons can be learned from ceding companies’ and reinsurers’ viewpoints and objectives on key treaty provisions and by considering obstacles, compromises, conflicts and solutions during and subsequent to the treaty construction and negotiation process. This report is based on questionnaire responses, telephone interviews, participant research assignments, follow-up email correspondence and an in-person roundtable discussion. This report documents participant’s points, counterpoints, counter-counterpoints and insights

Description: This PBA Implementation Guide provides verbal summaries and visual flow chart overviews of various VM-20 and PBA components and requirements, six Case Study Road Maps, and action items to bridge the gaps and implement PBA. During the Guide’s development these templates and exercises were vetted with more than 15 participants selected from a diverse group of companies.

Description: The days of reinsurance treaties bound by a handshake are long gone. Treaties have evolved into complex legal documents. The session will use a recently released study on recapture provisions as a starting point and will expand the discussion to other key treaty provisions. The focus will be on understanding the intentions, concerns and relative positions of both the direct company and the reinsurer so that a mutually beneficial compromise can be explored.

Description: To comply with VM reporting requirements, what is the simplest path for a small company that has passed the Deterministic Exclusion Test and the Stochastic Exclusion Test?

Description: An observation is made regarding the impact interest rate scenarios have on VM-20 stochastic reserves.