Publication archives
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
This document was archived November 12, 2024.
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: Duration Considerations for P&C Insurers (2023)
This guidance supersedes the previous educational note published in 2017, and adapts the content and illustrative examples to align to actuarial practice under IFRS 17. The Committee on Property and Casualty Insurance Financial Reporting (PCFRC) of the Canadian Institute of […]
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 […]