During the last year, there has been considerable progress in moving to a principle based valuation system for many life insurance products. This session will provide an update on this activity, including the status of the latest proposal and the major decisions made during the last year along with items still under discussion. In addition, this session will provide actuaries with insights about what could be done to prepare for a successful implementation.

This session will provide attendees with a broad picture of the status of extending a principle based approach to life insurance statutory reserves.