The Office of the Superintendent of Financial Institutions has published final regulatory return templates for federally regulated insurers to reflect International Financial Reporting Standard 18, Presentation and Disclosure in Financial Statements. The templates incorporate the standard’s new profit or loss structure, which organizes information into operating, investing and financing categories, and are intended to improve consistency and comparability across insurance sector reporting. IFRS 18 changes presentation and disclosure rather than the measurement of assets and liabilities, so OSFI does not expect its supervisory analysis to change materially. The final returns, developed following feedback from industry participants and external auditors, take effect on January 1, 2027, for insurers with a December 31 fiscal year-end and November 1, 2027, for those with an October 31 fiscal year-end.
2026-09-10Office of the Superintendent of Financial Institutions
Canada's Office of the Superintendent of Financial Institutions finalizes insurer regulatory return templates for IFRS 18
The Office of the Superintendent of Financial Institutions has finalized regulatory return templates for federally regulated insurers to align with IFRS 18 presentation and disclosure requirements. The returns take effect in 2027 based on insurers’ fiscal year-ends, while asset and liability measurement and OSFI’s supervisory analysis are not expected to change materially.