Publication archives

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. This […]

Part 5000 has been replaced by Section 2800

Educational Note Supplement: Changes to the Reference Curves’ Ultimate Risk-free Rate Development Approach Outlined in the Committee on Life Insurance Financial Reporting’s Educational Note on IFRS 17 Discount Rates

The purpose of this educational note supplement is to provide a summary of the changes to the reference curves’ URFR development approach that are expected to be reflected later this year in the IFRS 17 educational notes related to discount […]

Educational Note: Application of IFRS 17 Insurance Contracts for Public Personal Injury Compensation Plans

The Committee on Workers Compensation (CWC) has prepared this educational note to provide guidance to all Public Personal Injury Compensation Plans (PPICP) practitioners in implementing IFRS 17 Insurance Contracts (IFRS 17) for PPICPs in Canada. The educational note is structured […]

Educational Note: 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. This […]

Educational Note: Application of IFRS 17 Insurance Contracts

International Financial Reporting Standard 17 (IFRS 17) will be effective in Canada for fiscal years beginning on or after January 1, 2023. In preparation for this new standard, the CIA has reviewed the final version of the International Actuarial 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, […]

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 […]

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 […]

Draft Educational Note: Application of IFRS 17 Insurance Contracts for Public Personal Injury Compensation Plans

This draft educational note refers to the subjects covered by IFRS 17 with specific application to PPICP insurance contracts issued in Canada. The draft educational note is structured into seven (7) sections plus one (1) appendix in addition to an […]