OSFI’s Activities with respect to IFRS 17

The move to IFRS 17 is a significant undertaking for the industry and OSFI. With continued collaboration, we will be positioned to address the implications on a timely basis. This letter provides an update on the milestones completed and the activities underway as OSFI continues to support a robust implementation of International Financial Reporting Standard (IFRS) 17 - Insurance Contracts.