Academy Launches ‘PBR in Practice’ as the U.S. Moves into the Implementation Phase of PBR for Life Insurance

The Academy has been the technical architect behind principle-based reserving (PBR), helping to shape PBR into the valuation standard for life insurance issued after Jan. 1, 2017, in the 46 states that have passed standard valuation PBR-enabling legislation. PBR uses risk management techniques to capture an individual insurer’s unique risks underlying its life insurance business more accurately than the pre-existing requirements based on prescribed, static methods and assumptions. The Academy has assembled materials to assist actuaries and regulators as the United States moves into the implementation phase of PBR for life insurance. Read more here.