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Educational Note Supplement: Guidance for Assumptions for Hypothetical Wind-Up and Solvency Valuations Update – Effective June 30, 2021, and Applicable to Valuations with Effective Dates on or after June 30, 2021, and no later than December 30, 2021

Balancing the need for rapid publication of guidance and completeness in documenting its development, effective June 30, 2021, the process for releasing guidance regarding assumptions for hypothetical wind-up and solvency valuations is changing as follows: • A quarterly educational note […]

Update to draft educational notes: Changes to the reference curves outlined in CLIFR’s and PCFRC’s draft educational notes on IFRS 17 discount rates

The Actuarial Guidance Council (AGC), with the support of the Committee on Life Insurance Financial Reporting (CLIFR) and in collaboration with the Committee on Property and Casualty Insurance Financial Reporting (PCFRC), initiated an external consultation on the draft educational note, […]

Final Communication of Updated Promulgations of the Maximum Net Credit Spread, the Ultimate Reinvestment Rates, and the Calibration Criteria for Stochastic Risk-Free Interest Rates in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2330)

The ASB decided to promulgate the use of the economic parameters described below, to be effective October 15, 2021. Due to the impending adoption of IFRS 17 in 2023, the ASB does not anticipate an update to this promulgation prior to IFRS […]

Revised Educational Note Supplement: Calibration of Stochastic Risk-Free Interest Rate Models for Use in CALM Valuation (2021)

The Committee on Life Insurance Financial Reporting (CLIFR) and the Actuarial Guidance Council (AGC) have been committed to closely monitoring the continued appropriateness of calibration criteria for stochastic risk-free interest rate models guidance. Due to the persistent low interest rate […]

Draft Educational Note: IFRS 17 – Actuarial Considerations Related to Liability for Remaining Coverage in P&C Insurance Contracts – Illustrative Examples

Draft Educational Note: IFRS 17 – Actuarial Considerations Related to Liability for Remaining Coverage in P&C Insurance Contracts

The Committee on Property and Casualty Insurance Financial Reporting (PCFRC) has prepared this draft educational note to provide guidance on various actuarial considerations related to the liability for remaining coverage (LRC) in P&C insurance contracts, in accordance with IFRS 17 […]

Explanatory Report: Bank of Canada Revisions to Real Return Bond Data, Actuarial Evidence Practice Area

On May 10, 2021, the Bank of Canada revised the daily (V39057), weekly (V80691347), and monthly (V122553) rates for real return bond data from June 1, 2020, to capture the rollover of the 2050 bond, starting June 1, 2020. The […]

Educational Note Supplement: Guidance for Assumptions for Hypothetical Wind-Up and Solvency Valuations Update – Effective March 31, 2021, and Applicable to Valuations with Effective Dates on or after March 31, 2021 and no later than December 30, 2021

The Committee on Pension Plan Financial Reporting (PPFRC) issues this supplement to provide members with additional information and details on the analysis done for guidance issued for Assumptions for Hypothetical Wind-Up and Solvency Valuations Update – Effective March 31, 2021, […]

Exposure Draft Regarding the Determination of Pension Commuted Values in Economic Environments where Bond Yields are Negative

This exposure draft (ED) proposes changes to Section 3500 of the Standards of Practice, which applies to the actuary’s advice on the computation of commuted values with respect to pension plans. Since January 2021, yields on Government of Canada (GoC) […]