Property and Casualty - Memorandum to the Appointed Actuary 2022

Document Properties

  • Type of Publication: Letter
  • Date: August 16, 2022
  • To: Federally Regulated Property and Casualty Insurance Companies and Canadian Branches of Foreign Insurance Companies
  • From: Warren Rodericks, Managing Director, Actuarial Division, Supervision Sector
  • Copy: Appointed Actuaries of Federally Regulated Property and Casualty Insurance Companies and Canadian Branches of Foreign Insurance Companies

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

This Memorandum can be found on the OSFI website in English and French respectively at:

Please note that:

  • The electronic filing of the Unpaid Claims and Loss Ratio Analysis Exhibit is due at the same time as the P&C Return. Electronic filing instructions for the exhibit are available separately from this Memorandum.
  • For year-end 2022, COVID-19 data will be collected and is due at the same time as the Appointed Actuary’s Report (AAR). The completed template should be sent to your OSFI Lead Supervisor by email. This reporting only applies to FRFIs with material COVID impacts and exposures for the lines of business noted in the COVID submission template (template to follow from Supervision Central Office). In addition, FRFIs are reminded to inform their Lead Supervisors should there be any significant changes to the COVID claims and exposures during the year.

The Memorandum specifies the contents of the annual AAR to OSFI.

No substantive changes were made to the 2022 Memorandum.

Should you have any questions, please do not hesitate to contact Gladys Wong at gladys.wong@osfi-bsif.gc.ca.

Warren Rodericks
Managing Director
Actuarial Division
Supervision Sector

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