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For members in life, P&C, and mortgage insurance

Educational Note: Guidance for the 2020 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 2020 regulatory capital requirements and financial condition testing of life, P&C, and mortgage insurers operating in Canada. In addition, the note provides an update on recently published educational notes and introductory information about potential changes in regulatory capital reporting.

This educational note is not intended to replace the review of applicable guidelines by the actuary but provides a high-level summary of key changes and updates. The actuary should refer to regulators’ publications and to the relevant guideline(s) in order to ascertain whether the changes impact his or her situation. The guidance in this educational note represents a majority view of the members of the Committee on Risk Management and Capital Requirements (CRMCR) of appropriate practice consistent with the Standards of Practice.

For any questions, contact Christian Nadeau-Alary, Chair of the working group, or Michelle Lindo.

Announcement Number2020-04(07166) April 29, 2020