PBR - Principles-Based Reserves

  • 2007 - SOA -Treading into the Thicket: Federal Income Tax Implications of Principles Based Reserves, by Christian DesRochers and Douglas N. Hertz, Society of Actuaries - 86p
  • 2016-1 - NAIC - Implementing Principle-Based Reserves for Life Insurers: A Discussion Paper - 27p
    • March 28, 2016, New York Life, NAIC Proceedings – Spring 2016 6-311 (727-753) - Attachment Twelve - Life Actuarial (A) Task Force, 4/1-2/16
  • 2019 01 - AAA - Life Principle-Based Reserves (PBR) Assumptions Resource Manual, Life Practice Council, American Academy of Actuaries
    • Created by the American Academy of Actuaries PBR Assumptions Resource Manual Work Group
    • An actuary’s step-by-step sample framework for setting, updating, and governing life insurance assumptions for PBR and other valuation frameworks
  • 2020 - SOA - Principle-Based Reserves Simplified Methods, Society of Actuaries - 64p
  • 2008 1120 – NCOIL - National Conference of Insurance Legislators Life Insurance & Financial Planning Committee, Minutes - NATIONAL CONFERENCE OF INSURANCE LEGISLATORS (NCOIL) - https://ncoil.org › 2008-Annual-Report-Life
    • (PBR) - PRINCIPLES-BASED RESERVING
    • Commissioner Voss said the NAIC Life, Health, and Actuarial Task Force (LHATF) was nearing completion of a new Standard Valuation Law.
      • She said certain types of new life insurance products, like level premium term life insurance, universal life insurance with secondary guarantees, and variable annuities with secondary guarantees were often under-reserved, while other life insurance products were required to maintain redundant reserves.
      • Adoption of a new principles-based system of reserve standards would, she said, allow companies to maintain reserves that represented their actual risk. 
      • Commissioner Voss said the NAIC hoped to complete the Standards Valuation Law by year-end.
    • Rep. Damron said companies should have redundant reserves.  He said reducing reserves sends a bad message to Congress about state insurance regulation.
      • He urged the NAIC to take their time and not rush implementation of a principles-based approach.
    • Mr. Sandberg said companies in Australia, the United Kingdom, and Canada were subject to principles-based reserving requirements, and had remained solvent despite the far-reaching impacts of a global credit crisis.
      • He said the current reserving requirements in the United States hid the real risks.
www.actuarialstandardsboard.org › 2017/05 › Comment6
 
May 30, 2017 — Linda M. Lankowski, Chairperson. Task Force on Principle-Based Reserves. Actuarial Standards Board.