Publication archives
Educational Note: Guidance for the 2021 Valuation of Insurance Contract Liabilities of Life Insurers
The Committee on Life Insurance Financial Reporting (CLIFR) has prepared this educational note to provide guidance to actuaries in several areas affecting the valuation of the 2021 year-end insurance contract liabilities and other responsibilities of valuation actuaries of life insurers. […]
Pandemic Modelling by the CIA Shows Fourth Wave Likely in Most Scenarios
New research by the Canadian Institute of Actuaries (CIA) provides enhanced modelling of potential COVID-19 scenarios in Ontario to help account for factors such as new variants, vaccines, seasonality, and dynamic government intervention measures.
Research paper: Hedging longevity risk in the Canadian market
We present some of the results developed in the thesis of Giannini (2020), where an extensive study is performed on the effectiveness of several mortality/longevity-linked financial derivatives in hedging annuity portfolios’ longevity risk. We will not treat cashflow hedges like […]
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 […]
December 2020 had second-highest level of COVID insurance claims for the year
The third report of Canadian Insurance Industry Monthly Aggregate Data Analysis from the Canadian Institute of Actuaries is now available, providing data updated to the end of December 2020.
Report 3: Canadian Insurance Industry Monthly Aggregate Data Analysis
As the COVID-19 pandemic continues to run its course throughout the world and in Canada, our collective understanding of the virus and its impact grows. Research projects and data collection efforts are happening on many fronts, and the Canadian Institute […]
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 […]