CA| Bulletin 2025-8, from the California Department of Insurance, announces the annual Principle-Based Reserving (PBR) assessment for life insurance companies licensed in California for Fiscal Year 2024-25, as authorized by California Insurance Code section 10489.992. The total statewide assessment for the year is set at $3,188,000, to be apportioned among companies based on their gross life insurance premiums written in California during 2023. The bulletin provides a tiered fee schedule, with assessments ranging from $0 for companies with under $50 million in annual premiums to $151,500 for those with $500 million or more. The fees are intended to cover the costs of PBR valuation operations and maintain a prudent reserve fund, and the California Department of Insurance will invoice companies accordingly.
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