By the end of 2022, many major accounting regimes commonly used by actuaries will have significantly changed. Most of these changes are material and will increase the complexity of models needed to calculate actuarial-related balances. New regimes like Principle-Based Reserving (PBR), GAAP LDTI, and IFRS 17 require detailed cash flow projection models, often with multiple assumptions sets that need to be updated frequently, increasing model complexity and risk.
