From 1:30 – 2:30 PM (EDT) on Thursday, September 15, 2016, the Office of the Superintendent of Financial Institutions Canada (OSFI) will be holding a webcast information session on the final Life Insurance Capital Adequacy Test (LICAT) guideline.
The final LICAT guideline will be released on September 12, 2016.
Effective January 1, 2018, the LICAT will replace the current life insurance capital test, the Minimum Continuing Capital and Surplus Requirements (MCCSR), in place since 1992. OSFI developed the LICAT to better align capital and risk measures with the economic realities of the life insurance business. The LICAT takes into account lessons learned from the financial crisis, recent developments in financial reporting standards, actuarial standards, economic and financial practice, and advancements in international standards.
During the webcast information session, a presentation will be given that provides an overview of the final LICAT guideline and a summary of changes made since the release of the draft LICAT guideline in March 2016. An opportunity to ask questions on the LICAT will immediately follow the presentation.
Click here to register for the LICAT Information Session webcast, delivered in ENGLISH.
For more information on the LICAT, please visit the OSFI website.
The FRENCH Information Session will be occurring the same day at 10:30 AM.