Draft Guideline – Life Insurance Capital Adequacy Test (LICAT) Public Disclosures Requirements

Document Properties

  • Type of Publication: Letter
  • Date: July 21, 2017
  • To: Federally Regulated Life Insurance Companies (including Fraternal Benefit Societies) and Insurance Holding Companies
  • Reference: Guideline for Life/IHC

OSFI is issuing for comment a draft guideline on LICAT Public Disclosure Requirements. 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 clarifies OSFI’s expectations regarding simple, useful and comparable public disclosures for federally regulated life insurance companies and insurance holding companies. 

OSFI will consider all comments in developing the final version of the guideline. A non-attributed summary of industry comments received along with OSFI’s responses will be posted on OSFI’s website when the final Guideline is released.

OSFI is inviting comments on the draft Guideline until October 20, 2017. Comments may be provided directly to OSFI via email to: David Correia, Director, Accounting Policy Division at david.correia@osfi-bsif.gc.ca.

Yours truly,

Carolyn Rogers
Assistant Superintendent
Regulation Sector