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July 21, 2017

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

Guideline Impact Analysis Statement

LICAT 2018

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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