China's National Financial Regulatory Administration issued a notice on the publication and use of the China Life Insurance Industry Experience Life Table (2025), establishing requirements for the scientific and standardised application of the fourth set of industry life tables across life insurance product pricing, statutory liability reserve valuation and participating policy dividend distribution. For product pricing, insurers must determine mortality rates prudently in line with each product’s liability characteristics. For statutory liability reserves, insurers must, when assessing the minimum standard under actuarial rules, make a prudent judgement on the product’s main liabilities and select the applicable incidence-rate table type. For participating insurance, insurers must use the life table in a way that ensures fairness in dividend calculations and protects policyholders’ rights. The notice also reinforces insurers’ primary responsibility for actuarial work, requiring stronger internal decision-making mechanisms for product actuarial management and the establishment of reviewable, measurable back-testing processes, while assigning the Actuary Association an enhanced self-regulatory role including continued life table research and strengthened professional ethics assessment and management for actuaries.

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