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For all CIA members

Notice of Intent to Review the Standards of Practice to Incorporate Changes to Section 2500 – Dynamic Capital Adequacy Testing

The Actuarial Standards Board (ASB) has established a designated group (DG) on the harmonization of Dynamic Capital Adequacy Testing (DCAT) and Own Risk and Solvency Assessment (ORSA). The DG’s mandate is to propose revisions to Standards of Practice (SOP) section 2500 Dynamic Capital Adequacy Testing that will

  • Provide a more robust approach to satisfy federal and provincial insurance acts’ requirements to report on the expected future financial condition of an insurance entity; and
  • Allow for better alignment with ORSA regulatory requirements as it relates to work needed to report on the expected future financial condition of an insurance entity.

Parties wishing to comment on this NOI should direct those comments to Chris Fievoli at chris.fievoli@cia-ica.ca and Marco Fillion at marco.fillion@pwc.com by March 20, 2018.

Link(s)
Council/Committee
Actuarial Standards Board/Designated Group
Contact with Questions Marco Fillion, Chair, Designated Group, at marco.fillion@pwc.com
Announcement Number
2017-11(03955)
November 29, 2017