Principle-based reserving (PBR) is a new statutory reserve regulation, whereby the NAIC has introduced a valuation model to calculate life insurance capital reserves. Along with the PBR, companies must transition to the current 2017 CSO Mortality Tables in conjunction with their existing product lines.


This new valuation model is effective January 1, 2020. As such, all carrier product offerings will reflect the new pricing and older non compliant products must be placed and in force by December 31, 2019. There will be no exceptions

New and pending business impacted by this change

  • Notes will be made to pending business memos indicating the upcoming change and respective deadlines
  • Cases pending with outstanding 1035 funds follow the same deadline protocol
  • Any questions regarding pending business please contact your New Business Case Manager
  • Active quotes should be reviewed with your BSMG sales team