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An Alternative to the Net Premium Valuation Method for Statutory Reporting

Published online by Cambridge University Press:  10 June 2011

P.G. Scott ,
S.F. Elliott ,
L.J. Gray ,
T.W. Hewitson ,
D.J. Lechmere ,
D. Lewis  and
P.D. Needleman
P.G. Scott
Affiliation:
Norwich Union Life, Wellington Row, York, YO90 1WR, U.K. Tel: +44 (0)1904 452 827
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Abstract

This paper reviews the present statutory valuation method and regime. It discusses the usefulness and effectiveness of the method in relation to the current range of insurance contracts. It suggests a possible alternative approach to statutory valuation which could enable offices to demonstrate both their solvency and their ability to meet policyholders' reasonable expectations. It reviews the effects of introducing the suggested method and its relationship with other current reporting issues.

Keywords

Life Office ValuationsSolvencyProfitsBonusesRealistic ReservesPolicyholders' Reasonable Expectations
Type
Sessional meetings: papers and abstracts of discussions
Information
British Actuarial Journal , Volume 2 , Issue 3 , 01 August 1996 , pp. 527 - 621
Copyright
Copyright © Institute and Faculty of Actuaries 1996

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References

REFERENCES

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