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For members in the life and health insurance and P&C insurance areas

Draft Educational Note: Comparison of IFRS 17 to Current CIA Standards of Practice

The Committee on International Insurance Accounting (IIAC) has prepared this draft educational note to identify the key differences in the measurement of insurance contract liabilities between IFRS 17 and current CIA Standards of Practice and supporting guidance.

The information presented in this draft educational note is intended to alert Canadian valuation practitioners to key items that will affect their work. Additional information that provides more detail appears in International Actuarial Association (IAA) guidance or other CIA documents. This draft educational note is not intended to be a complete guide, but rather a roadmap for change that identifies the key similarities and differences between IFRS 17 and current valuation approaches in Canada. This draft educational note is consistent with the draft of International Actuarial Note (IAN) 100 received by the IIAC for comment on March 28, 2018, and will remain as draft until IAN 100 is finalized.

If you have any questions, please contact Les Rehbeli, Chair, Committee on International Insurance Accounting.

Announcement Number
2018-09(04270)
September 19, 2018