How to Manage Capital Volatility under IFRS 17 and LICAT 2023

By FCIAs Robert Berendsen and Catherine Sun Effective January 1, 2023, insurers that report on an International Financial Reporting Standards (IFRS) basis are required to apply IFRS 17 Insurance Contracts (IFRS 17). In adapting to IFRS 17, the Office of the Superintendent of Financial Institutions (OSFI) has revised the Life Insurance Capital Adequacy Test (LICAT) 2019 guideline and published...

Navigating a Non-Traditional Actuarial Career: From Insurance to Banking

By Sheng Tseng, FCIA My early career path The first phase of my actuarial career should be relatable to most actuaries. I graduated with an actuarial science degree and passed some SOA exams, then joined a large insurance company in their actuarial rotation program. A few years later I moved to an international actuarial consultancy where I was involved with a number of traditional and non...

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