CMI Model benchmarking survey results
Working Paper 192 contains an anonymised summary of the fourth CMI Mortality Projections Model benchmarking survey, which asked insurer and reinsurer Subscribers about their use of the Model. We were pleased to receive responses from 22 Subscribers, including 16 insurers and 6 reinsurers.
- CMI_2022 was the most commonly used Model version at 31 December 2023 and CMI_2021 was the most commonly used Model version at 31 December 2022.
- Of those respondents who indicated a likely Model version for use at 31 December 2024, over half indicated CMI_2023, with around a quarter intending to use CMI_2022 and no respondents expecting to use CMI_2020 or earlier versions.
- We asked respondents to provide an indication of their best estimate view of the specific impact of the pandemic on the trend component of life expectancy. The liability-weighted average impact was a 1.8% fall in life expectancy.
- The paper also contains information on parameters used, life expectancies, and differences between insurers and reinsurers and between longevity and mortality protection books of business.
These outputs are available to Authorised Users only.
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