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Announcements - Current

For all life actuaries

Initial Communication of Updated Promulgations of the Ultimate Reinvestment Rates and Calibration Criteria for Stochastic Risk-Free Interest Rates in the SOP for the Valuation of Insurance Contract Liabilities (Subsection 2330)

Subsection 2330 of the Practice-Specific Standards of Practice on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Section 2300) refers to a number of economic parameters that would be promulgated from time to time by the Actuarial Standards Board (ASB). These economic parameters are the ultimate reinvestment rates (URRs) and the calibration criteria for stochastic risk-free interest rates.

The ASB proposes to promulgate the use of the economic parameters described below, to be effective October 15, 2017. The ASB intends to review this promulgation every five years, or sooner if circumstances warrant, as was the case given the persistent low interest-rate environment.

Comments on the proposed promulgations are invited by July 10, 2017. Please send your comments, preferably in an electronic form, to Jean-Yves Rioux at jerioux@deloitte.ca with copies to Chris Fievoli at chris.fievoli@cia-ica.ca. No other specific forums for submitting comments are planned.

Link(s)
Council/Committee
Actuarial Standards Board/designated group
Contact with Questions Jean-Yves Rioux, Chair, designated group, at jerioux@deloitte.ca
Announcement Number
2017-05(03766)
May 18, 2017