Publication archives
Draft Explanatory Report: IFRS 17 Expenses
The Committee on Life Insurance Financial Reporting (CLIFR) and the Committee on Property and Casualty Insurance Financial Reporting (PCFRC) have prepared this draft report to provide information concerning expenses in accordance with IFRS 17 requirements. The draft explanatory report is […]
Educational Note: Guidance for the 2021 Reporting of Capital and Financial Condition Testing for Life, P&C, and Mortgage Insurers
This educational note provides an overview of guidance to actuaries in several areas affecting the reporting of the 2021 regulatory capital requirements and financial condition testing of Life, P&C and Mortgage insurers operating in Canada. In addition, the note provides […]
Second Revised Exposure Draft to Incorporate changes required by the adoption in Canada of IFRS 17 Insurance Contracts, including Principles of International Standard of Actuarial Practice 4 – Actuarial Practice in Relation to IFRS 17 Insurance Contracts, into the Canadian Standards of Practice (clean)
This second revised exposure draft (ED) proposes changes to the general standards (Part 1000) and the practice-specific standards for insurance (Part 2000). The proposed changes align the SOP with the requirements of IFRS 17, and incorporate the guidance of ISAP […]
Second Revised Exposure Draft to Incorporate changes required by the adoption in Canada of IFRS 17 Insurance Contracts, including Principles of International Standard of Actuarial Practice 4 – Actuarial Practice in Relation to IFRS 17 Insurance Contracts, into the Canadian Standards of Practice (red-lined)
This second revised exposure draft (ED) proposes changes to the general standards (Part 1000) and the practice-specific standards for insurance (Part 2000). The proposed changes align the SOP with the requirements of IFRS 17, and incorporate the guidance of ISAP […]
IFRS 17 Discount Curves
The CIA retained the services of Fiera Capital to produce Fiera Capital’s CIA IFRS 17 Market Curves and Reference Curves on a monthly basis that can be used by life and health insurance and property and casualty actuaries in association […]
Revised Draft Educational Note: IFRS 17 Discount Rates and Cash Flow Considerations for Property and Casualty Insurance Contracts
The Committee on Property and Casualty Insurance Financial Reporting (PCFRC) has prepared this draft educational note to provide guidance related to setting and applying discount rates (including cash flow considerations) for the purposes of calculating the present value of estimates […]
Revised Draft Educational Note – Assessing Eligibility for the Premium Allocation Approach Under IFRS 17 for Property & Casualty and Life & Health Insurance Contracts
The purpose of this draft educational note is to provide actuaries with practical application guidance on assessing whether a group of insurance contracts meets the required eligibility criteria for use of the premium allocation approach (PAA) to measure the liability […]
Revised Draft Educational Note: Comparison of IFRS 17 to Current CIA Standards of Practice
IFRS 17 specifies the basis for measurement (valuation) of insurance contract liabilities. While there are many similarities to the current CIA standards of practice for valuation of insurance contract liabilities, there are also many differences. This educational note provides actuaries with […]
Educational Note – 2020 Guidance to the Appointed Actuary and Valuation Actuaries for Property and Casualty Insurers
The Committee on Property and Casualty Insurance Financial Reporting (PCFRC or the Committee) has prepared this educational note to provide guidance to the Appointed Actuary and valuation actuaries in several areas affecting the valuation of the 2020 year-end insurance contract […]