A change agenda for reserving. Report of the General Insurance Reserving Issues Taskforce (GRIT)

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Reserving is important to our profession as it is a core activity for actuaries. The members of the General Insurance Reserving Issues Taskforce (GRIT) have been considering how actuaries can improve the way in which we do reserving in general insurance. We have consulted widely in preparing this paper. Keywords: general insurance; reserves; best estimate; ranges; communicating uncertainty; understanding the business; improving our methods; reserving cycle; behavioural issues