OSFI Consults on Guideline on LICAT Public Disclosure Requirements
OSFI is consulting on a draft guideline on the Life Insurance Capital Adequacy Test (LICAT) Public Disclosure Requirements. The guideline clarifies OSFI’s expectations on simple, useful, and comparable public disclosures for federally regulated life insurance companies and insurance holding companies. Comments are due by October 20, 2017.
LICAT is a capital solvency framework that measures the overall quality of available capital and aligns the measurement of risk with the economic realities of the life insurance business. This guideline is applicable to federally regulated life insurance companies (including fraternal benefit societies) and insurance holding companies. OSFI will consider the comments received in developing the final version of the guideline. It will also publish a non-attributed summary of the industry comments received on its website when the final guideline is released.
Related Links
Guideline Impact Analysis Statement
Comment Due Date: October 20, 2017
Effective Date: December 31, 2018
Keywords: Americas, Canada, OSFI, Insurance, Disclosure Requirements, LICAT, Guideline, Capital Adequacy
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