Publication archives
Economic Capital Modelling Survey Conducted in 2024
The Committee on Risk Management and Capital Requirements set up a working group that was assigned to assess the status of economic capital models/modelling within the Canadian market. Its mandate was to assess gaps and develop relevant guidance with respect […]
IFRS 17 Discount Rates and Cash Flow Considerations for Property and Casualty Insurance Contracts
The purpose of this 2025 updated version is to expand the discussion about the selection of the illiquidity premium and the derivation of the illiquidity premium for CIA reference curves. In addition, the CIA illiquid reference curve parameters have been […]
2025 Guidance to the Appointed Actuary and Valuation Actuaries of Property and Casualty Insurers
This educational note was prepared to provide guidance to property and casualty (P&C) actuaries in the valuation of insurance contract liabilities and other responsibilities of the actuaries. It reviews relevant standards of practice (SOP) and other educational notes and discusses […]
Advice statement to the Office of the Superintendent of Financial Institutions : Minimum Capital Test Guideline 2026
The CIA submits comments to OSFI on the MCT guideline for 2026 for P&C insurers.
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 […]
Unexpired Coverage Considerations for P&C Insurers – Examples (Exposure Draft)
This document is a set of illustrative examples to accompany the educational note. This document was archived on November 12, 2025
Standards of Practice – Insurance (Effective October 1, 2025)
Effective October 1, 2025. Early adoption is encouraged.
Exam FCIA-1: Property and casualty insurance – October 2024 – Past Exam for Practice
This open-book exam evaluates participants’ ability to apply actuarial principles to property and casualty insurance. Through real-world scenarios, participants demonstrate their understanding of ratemaking, reinsurance structures, and loss modeling, with a focus on sound professional judgment and practical application. This […]
Exam FCIA-2: Property and casualty insurance – November 2024 – Past Exam for Practice
This open-book exam assesses participants’ ability to apply actuarial principles to property and casualty insurance. Through applied scenarios, participants demonstrate their understanding of reserving, reinsurance, IFRS 17 financial reporting, and loss development techniques, with a focus on sound professional judgment […]