The CIA has released GC2020: Mortality Table for Group Conversions, the first Canadian mortality table developed specifically for individuals who convert group life insurance coverage into individual policies. The research provides actuaries with a dedicated, industry-wide basis for pricing, valuation and the assessment of conversion risk.
Authored by Bob Howard, FCIA, the study addresses a longstanding challenge in Canadian actuarial practice. While group conversion lives have long been recognized as having mortality patterns that differ significantly from traditionally underwritten individual insurance policies, no publicly available Canadian mortality table has previously been available for this segment.
To address this gap, the research draws on eight years of CIA group conversion data spanning 2016 to 2024. The resulting GC2020 table reflects industry experience across key risk categories and provides a foundation for actuarial work involving conversion products.
“GC2020 represents an important milestone for the Canadian actuarial profession. By creating a dedicated mortality table for group conversions, actuaries now have access to a common, data-driven foundation for assessing these risks and supporting informed pricing decisions.”
Bob Howard, FCIA and research author
The report also outlines the methodology used to develop the table, including analyses of mortality experience by age, duration, smoking status and policy size. Advanced graduation techniques were used to produce a final table that improves consistency and stability relative to assumptions commonly used for conversion business.
Beyond the table itself, the research offers a framework that may be applied to other studies where data is limited. Supplementary files accompanying the report allow actuaries to review, replicate and adapt elements of the approach for future research and practice applications.
The publication is expected to support greater consistency across the industry, reduce reliance on proprietary low-volume datasets and encourage further research into conversion behaviour and mortality experience in Canada.
R.C.W. (Bob) Howard, FCIA, FSA, is a past President of the CIA and an actuarial researcher whose work has advanced the profession’s understanding of mortality experience and actuarial modelling. He has authored several influential CIA research studies, including mortality tables and experience reports used across the Canadian life insurance industry. His expertise includes mortality analysis, graduation techniques and the development of practical actuarial tools and methodologies.