PBR Templates
The Academy's Principle-Based Reserving (PBR) Analysis Templates Task Force published six templates to assist users when performing PBR analysis or preparing PBR Actuarial Reports required by the National Association of Insurance Commissioners Valuation Manual (VM-31).
Starting Assets for reporting purposes
This file provides a summary exhibit template that might assist users when reporting information required by VM-31 Section 3.D.6.a reporting. It demonstrates that the Net Starting Assets are within the asset collar.
Number of Scenarios for reporting purposes
This file provides a summary exhibit template that might assist users when reporting information required by VM-31 Section 3.D.6.t. The template demonstrates that the reported stochastic reserve determined using less than 10,000 scenarios is not materially less than that produced using 10,000 scenarios.
Impact of Margins for reporting purposes
This file provides templates that might be used to assist when reporting results in the PBR Actuarial Report. The templates were developed with the intention to assist users in meeting the minimum reporting requirements defined in the following sections:
- VM-31 Section 3.D.11.a - Impact of Margins for Each Risk Factor
- VM-31 Section 3.D.11.b - Aggregate Impact of Margins
- VM-31 Section 3.D.11.c.i - Impact of Implicit Margins in the Mortality Assumption
Model Validation for reporting purposes
This file provides examples of templates that might assist users when configuring the company's responses to VM-31 Section 3.D.2.a, Modeling Systems, and VM-31 Section 3.D.2.e, Calculation and Model Validation.
Sensitivity Tests and Margin Impacts for internal company analysis purposes
This file provides summary exhibit templates that might be used to assist the user when analyzing the impacts of assumptions and margins on reserves in the current valuation year as well as on projected reserves in future years.
Sensitivity Tests for reporting purposes
This file provides a template that might assist users when reporting the sensitivity testing information required by VM-31 Sections 3.D.11.d.i, 3.D.11.d.ii, and 3.D.11.d.iii.
