Educational Note: Guidance for the 2023 Valuation of Insurance Contract Liabilities of Life Insurers

Group: Actuarial Guidance Council

Publication date: 22-08-2023

Version: Current

Language available: Bilingual

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The Committee on Life Insurance Financial Reporting (CLIFR) has prepared this educational note to provide guidance to actuaries in several areas affecting the valuation of the 2023 year-end insurance contract liabilities and other responsibilities of valuation actuaries of life insurers. In addition, this educational note provides an update on recently published experience studies and relevant valuation considerations for the current reporting year.

This educational note is structured into six sections and two appendices. The sections provide content on the following topics:

• COVID-19
• Experience studies
• Economic assumptions
• International Financial Reporting Standards
• Regulatory Guidance
• Capital

Appendix A contains a list of relevant educational notes and research papers, sorted by topic area. Appendix B retains considerations for practitioners that will be preparing IFRS 4 valuations for 2023.

Categories: Practice

Types: Educational notes

Topics: Life insurance

Pages: 18

Format: PDF

Accession no.: 223130

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Educational Note: Guidance for the 2022 Valuation of Insurance Contract Liabilities of Life Insurers