An Alternative to the Net Premium Valuation Method for Statutory Reporting

P.G. Scott, S.F. Elliott, L.J. Gray, T.W. Hewitson, D.J. Lechmere, D. Lewis and P.D. Needleman

British Actuarial Journal, 1996, vol. 2, issue 3, 527-621

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.

Date: 1996
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