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Deferral of IFRS 9 Application for Federally Regulated Life Insurers

  • IFRS - OSFI Image

Mar 20, 2017

On March 20, 2017, the Office of the Superintendent of Financial Institutions (OSFI) issued the final version of its advisory: "Deferral of IFRS 9 Application for Federally Regulated Life Insurers."

The advisory is in response to the September 2016 International Accounting Standards Board (IASB) approved amendment to IFRS 4, Insurance Contracts, allowing companies whose activities are predominantly connected with insurance to defer the application of IFRS 9, Financial Instruments, until January 1, 2021.

Review the advisory on the OSFI's website.

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