Insight
Commercial auto liability: Summary of 2021 statutory financial results
We summarize year-end 2021 financial results for U.S. auto liability writers, with detailed information on premium (up 21%), loss ratios, reserves, and surplus.
In March 2021, regulators announced the future cessation of various London Interbank Offered Rates (LIBOR) rates. The Secured Overnight Financing Rate (SOFR) is the recommended benchmark to replace LIBOR for U.S. dollars. We discuss risk-free curve selection and setting of the discounting spread for variable annuity fair valuation. The paper largely focuses on U.S. variable annuities, but the transition will impact fair valuation annuity products such as fixed-indexed and registered index-linked annuities. The paper covers:
Insight
We summarize year-end 2021 financial results for U.S. auto liability writers, with detailed information on premium (up 21%), loss ratios, reserves, and surplus.