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OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS IFRS 17 LIFE MEMORANDUM TO THE APPOINTED ACTUARY2023Table of Contents A. GENERAL REQUIREMENTS AND DIRECTIONS .....................................................................
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Insurance companies that offer life and health insurance policies.
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Regulatory authorities that oversee the insurance industry.
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What is life and health actuarial?
Life and health actuarial involves analyzing financial risks related to life and health insurance policies.
Who is required to file life and health actuarial?
Insurance companies are required to file life and health actuarial.
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Life and health actuarial is filled out by actuaries who have expertise in risk assessment and statistical analysis.
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The purpose of life and health actuarial is to ensure that insurance companies have enough funds to cover their obligations to policyholders.
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Information such as policyholder demographics, claims experience, and financial projections must be reported on life and health actuarial.
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