ARCWG Submits Fixed Annuity PBR Deviations Grid to NAIC

The Academy’s Annuity Reserves and Capital Work Group submitted a summary of the differences between the Academy fixed annuity principle-based reserving (PBR) framework proposal exposed by the National Association of Insurance Commissioners VM-22 Subgroup in October 2020 and the current framework for Valuation Manual (VM)-21 (variable annuity PBR).