Minimum Life Insurance Reserves
1 Regulation 26(5) of the Insurance Regulations 1992 specifies that in respect of a policy other than an annuity, the minimum reserves for the valuation shall be made by using -
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a) |
the 1992 Commissioner's Valuation Table for male lives and the 1992 Commissioner's Valuation Table with a three-year age setback for female lives; and |
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b) |
a rate of interest of 4% per annum. |
2 A copy of the 1992 Commissioner's Valuation Table for male lives is attached at MAS 309 Appendix A (PDF, 7.81KB). This mortality table should be used for minimum reserve valuation with effect from 31 Dec 92.
Minimum Life Annuity Reserves
3 Regulation 26(6) of the Insurance Regulations 1992 specifies that in respect of an annuity, the minimum reserves for the valuation shall be made by using -
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a) |
the a(90) Ultimate Table rated down two years; and |
|
b) |
a rate of interest of 5% per annum. |
4 Copies of the a(90) Ultimate Table (before rating down in age) for male and female lives are attached at MAS 309 Appendices B (PDF, 7.73KB) and C (PDF, 7.75KB). These mortality tables should be used for minimum reserve valuation with effect from 31 Dec 92.
Appendix A: 1992 Commissioner's Valuation Table
 (PDF, 7.81KB)
Appendix B: a(90) ULTIMATE (Male)
(PDF, 7.73KB)
Appendix C: a(90) ULTIMATE (Female)
(PDF, 7.75KB)
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