Insurers that report on an International Financial Reporting Standards (IFRS) basis were required to apply IFRS 17 Insurance Contracts for annual reporting periods starting on or after January 1, 2023.
Condominiums carry a number of risks, some of which owners and condo boards may not be aware. In examining these risks and the necessity of sound reserve funds to cover future maintenance, the actuarial profession has several insights to offer in this area.
For many Canadians, owning a condo is one of the most significant investments of their lives. However, the longevity of condo infrastructure in Canada is threatened by various risks that require more attention.
With only a few weeks remaining before the implementation of IFRS 17 on January 1, 2023, we revisited the topic with FCIAs and Co-Chairs of the IFRS 17 Steering Committee, Sati MacLean and Les Rehbeli.
Last year, I recorded a podcast episode with Frank Grossman, discussing a research project he completed looking at ethical concerns within the profession. I’ve known Frank for over thirty years, and I don’t think we have ever had a conversation that lasted less than an hour, so I wasn’t surprised when we continued talking for another forty minutes after the recording was completed.
Canadian Institute of Actuaries
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SeeingBeyondRisk@cia-ica.ca