PBR Bootcamp: Liability Modeling
The PBR Bootcamp series continues with a discussion of liability modeling. During this session, our dynamic speakers covered the following topics:
- General modeling considerations;
- Differences between VM-20 and VM-21;
- Deterministic vs. stochastic reserves;
- VM-20 exclusion tests;
- VM-21 Standard Projection Amount (SPA);
- Links between liability and asset assumptions;
- Modeling Non-Guaranteed Elements (NGEs); and
- Recent updates to the Valuation Manual.