{"id":978,"date":"2023-11-24T20:33:42","date_gmt":"2023-11-24T20:33:42","guid":{"rendered":"https:\/\/financeify.ca\/?p=978"},"modified":"2023-11-24T20:33:42","modified_gmt":"2023-11-24T20:33:42","slug":"osfi-presents-new-capital-rules-regarding-the-risk-of-segment-funds","status":"publish","type":"post","link":"https:\/\/financeify.ca\/index.php\/2023\/11\/24\/osfi-presents-new-capital-rules-regarding-the-risk-of-segment-funds\/","title":{"rendered":"OSFI presents new capital rules regarding the risk of segment funds"},"content":{"rendered":"

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The Office of the Superintendent of Financial Institutions (OSFI) is developing a new approach to setting capital requirements for separate fund guarantee risk.<\/p>\n

The federal financial regulator is developing a new methodology, to be implemented in 2023, for calibrating the capital insurers must allocate to segmented fund underwriting risk, replacing the current approach adopted in the early 2000s.<\/p>\n

OSFI said the new approach will reflect changes in accounting standards that are scheduled to come into force in 2023, and will also modernize capital rules in this area.<\/p>\n

\u201cOne of the objectives of the new standard approach is to improve the risk sensitivity of capital requirements (segment fund guarantees),\u201d OSFI noted.<\/p>\n

The existing approach uses an agent-based methodology and allows insurers to use internal models (subject to OSFI approval).<\/p>\n

OSFI said the new approach “will be calculated by applying shocks to (segregated guarantee funds) liabilities” and will not allow reliance on insurers’ own models.<\/p>\n

The regulator plans to present the proposed new methodology to insurers in December and conduct a public consultation by September 2021, with a view to finalizing the new rules by August 2022.<\/p>\n

In addition to the new accounting rules, OSFI’s new capital rules will come into force on January 1, 2023.<\/p>\n

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The Office of the Superintendent of Financial Institutions (OSFI) is developing a new approach to setting capital requirements for separate fund guarantee risk. The federal financial regulator is developing a new methodology, to be implemented in 2023, for calibrating the capital insurers must allocate to segmented fund underwriting risk, replacing the current approach adopted in […]<\/p>\n","protected":false},"author":1,"featured_media":979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[435,139,433,434,437,436,209],"class_list":{"0":"post-978","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-seg-fund-investments","8":"tag-capital","9":"tag-funds","10":"tag-osfi","11":"tag-presents","12":"tag-risk","13":"tag-rules","14":"tag-segment"},"aioseo_notices":[],"yoast_head":"\nOSFI presents new capital rules regarding the risk of segment funds - 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