Life Memorandum to the Appointed Actuary (2021)

Document Properties

  • Type of Publication: Letter
  • Date: August 13, 2021
  • 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.  No substantive changes were made to the 2021 Memorandum. Section A2.2 (Filing Directions for the AAR, Financial Condition Testing (FCT) and Peer Review Report) clarifies, as in the prior year, the need for the peer review of FCT to be submitted no later than December 31st.

Should you have any questions, please do not hesitate to contact Daisy Wan at Daisy.Wan@osfi-bsif.gc.ca.

Chris Townsend
Senior Director
Actuarial Division
Insurance Supervision Sector

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