Life Memorandum to the Appointed Actuary (2019)

Document Properties

  • Type of Publication: Letter
  • Date: September 6, 2019
  • To: Federally Regulated Life Insurance Companies, including Fraternal Benefit Societies and Canadian Branches of Foreign Insurance Companies, including Foreign Fraternal Benefit Societies
  • From: Chris Townsend, Senior Director, Actuarial Division, Insurance Supervision Sector
  • Copy: Appointed Actuaries of Federally Regulated Life Insurance Companies, including Fraternal Benefit Societies and Canadian Branches of Foreign Insurance Companies, including Foreign Fraternal Benefit Societies

Every year, OSFI updates the Life Memorandum to the Appointed Actuary (the Memorandum), that is issued pursuant to subsection 667(2) of the Insurance Companies Act.

The Memorandum can be found on OSFI's website in English and French respectively at:

The Memorandum specifies the content of the annual Appointed Actuary's Report to OSFI.  Changes to the Memorandum include:

  1. Table 2.4a: Revised wording to indicate that the basis changes include all method and assumption changes since the filing of the last Memorandum to the Appointed Actuary.
  2. Clarified wording for completion of Table 3.1
  3. B 8.5: Revised the disclosure requirements to include target percentage of the base salary for variable compensation where applicable.

Should you have any questions, please do not hesitate to contact Ping Xu at 416-973-8937 or at Ping.Xu@osfi-bsif.gc.ca

Chris Townsend
Senior Director
Actuarial Division
Insurance Supervision Sector