Publication archives

Guidance on Asset Valuation Methods

This educational note is intended to assist actuaries in the selection of an appropriate asset valuation method in conjunction with the reporting of a pension plan’s financial position, the determination of a pension plan’s funding requirements and providing advice on […]

Regulatory Capital Filing Certification for Life Insurers

This educational note regarding the certification of regulatory capital filings in Canada references the Standards of Practice and other guidance on the appropriateness of internal models used to determine required capital for segregated fund guarantees, and accounts for the Life […]

Reflecting Increasing Maximum Pensions Under the Income Tax Act in Solvency, Hypothetical Wind-up and Wind-up Valuations

This updated educational note is intended to provide guidance to actuaries with respect to reflecting increasing defined benefit maximum pension limits under the Income Tax Act in solvency, hypothetical wind-up and wind-up valuations.

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 […]

Guidance for Assumptions for Hypothetical Wind-Up and Solvency Valuations Update – Effective September 30, 2023, and Applicable to Valuations with Effective Dates on or after September 30, 2023, and no later than June 29, 2024

The PPFRC has conducted its quarter-end review of group annuity pricing conditions as at September 30, 2023, and recommended to the AGC assumptions for hypothetical wind-up and solvency valuations for valuations with effective dates on or after September 30, 2023 […]

Guidance on Fairness Opinions Required Under the Insurance Companies Act

The Insurance Companies Act (ICA) includes governance requirements for directors of a company with respect to dividend policies for participating policyholders, management of participating accounts and discretionary management of adjustable policies. The same legislation imposes on Appointed Actuaries the requirement […]

Dividend Determination for Participating Policies

Section 2700 of the Standards of Practice (SOP) – Policyholder Dividend Determination sets out expectations for actuarial reports on policyholder dividends. An educational note to support this section of the SOP was published in 2014, and this note is now […]

Educational Note: 2023 Guidance to the Appointed Actuary and Valuation Actuaries of Property and Casualty Insurers

Educational Note: Guidance for the 2023 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 2023 year-end insurance contract liabilities and other responsibilities of valuation actuaries of life insurers. […]

Educational Note: Subsequent Events

The Committee on Property and Casualty Insurance Financial Reporting (PCFRC) of the Canadian Institute of Actuaries (CIA) has revised this educational note to take into account changes in CIA Standards of Practice (SOP) and International Financial Reporting Standards (IFRS). This […]