Temporary Exemption of IFRS 9 for Federally Regulated Life Insurers

OSFI is issuing for comment the draft advisory Deferral of IFRS 9 Application for Federally Regulated Life Insurers (the Advisory).

The Advisory, which expects federally regulated life insurers (with some exceptions) to defer the application of IFRS 9 until January 1, 2021, is being introduced in response to an IFRS amendment approved by the International Accounting Standards Board (IASB) in September 2016.

Interested parties may provide comments to OSFI by January 31, 2017.