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ARTICLE · 28 JUNE 2019

OSFI Releases Draft Guideline B-3: Sound Reinsurance Practices And Procedures

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On June 12, 2019, the Office of the Superintendent of Financial Institutions Canada (OSFI) issued its proposed revisions to Guideline B-3: Sound Reinsurance Practices and Procedures (Guideline B-3).

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Brian Reeve
Brian Reeve
Marisa Coggin
Marisa Coggin
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On June 12, 2019, the Office of the Superintendent of Financial Institutions Canada (OSFI) issued its proposed revisions to Guideline B-3: Sound Reinsurance Practices and Procedures (Guideline B-3). The release of Draft Guideline B-3 (the Draft Guideline) is part of Phase II of OSFI's ongoing review of the Canadian reinsurance framework for federally regulated insurers (FRIs) which commenced nearly one year ago with the publication of OSFI's Discussion Paper on the Reinsurance Framework (the Discussion Paper). A copy of our e-LERT regarding the Discussion Paper can be accessed here.

In addition to the Draft Guideline, OSFI published its responses to a summary of industry comments relating to the Discussion Paper (the Summary).

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