Publication archives
Valuation of Universal Life Insurance Contract Liabilities
The purpose of this educational note is to provide practical application guidance on topics relating to the IFRS 17 valuation of universal life (UL) insurance contract liabilities.
Selective Lapsation for Renewable Term Insurance Products
The Committee on Life Insurance Financial Reporting (CLIFR) has prepared this educational note to review methods used to take into account the impact on mortality of selective lapsation for renewable term insurance products. The 2025 review also considered the findings […]
Canadian Individual Life Experience Updated to Policy Year 2022-2023 – Report
This is the 74th annual report of the intercompany mortality experience for Canadian individual life insurance policies. The study adds the one-year period beginning with the policy anniversary in 2022 on an age-nearest-birthday basis for data submitted by nine companies […]
Canadian Individual Life Experience Updated to Policy Year 2022-2023 – Tables 2018-2023
This workbook contains tables from the CIA annual mortality study for policy years 2018-2023. Note: The CIA Research Council’s Mortality Risk Research Committee was recently made aware that there may be errors in the experience results for joint lives in […]
Financial Condition Testing
The Canadian Institute of Actuaries (CIA) initially published an educational note on financial condition testing (FCT) in April 2020. In January 2023, an updated version was published to reflect IFRS 17 concepts and terminology. As of July 2025, additional refinements […]
IFRS 17 Discount Rates for Life and Health Insurance Contracts
The Committee on Life Insurance Financial Reporting (CLIFR) has prepared this educational note to provide guidance related to setting the discount rates for the purpose of calculating the present value of estimates of future cash flows under IFRS 17. The […]
Guidance for the 2025 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 2025 year-end insurance contract liabilities and other responsibilities of valuation actuaries of life insurers.
Standards of Practice – Insurance (Effective October 1, 2025)
Effective October 1, 2025. Early adoption is encouraged.
Exam FCIA-1: Individual life insurance and annuities – September 2024 – Past Exam for Practice
This open-book exam assesses participants’ ability to apply actuarial principles to individual life insurance and annuity products. Through real-world scenarios, participants demonstrate their understanding of valuation, risk management, and regulatory frameworks, with a focus on sound professional judgment and practical […]
Exam FCIA-2: Individual life insurance and annuities – November 2024 – Past Exam for Practice
This open-book exam assesses participants’ ability to apply actuarial principles to individual life insurance and annuity products. Through applied scenarios, participants demonstrate their understanding of pricing, valuation, reinsurance, and financial reporting, with a focus on sound professional judgment and practical […]