Remarks to the 2012 Life Insurance Invitational Forum

Cambridge, ON; Nov. 15, 2012 – Remarks by Superintendent Julie Dickson Office of the Superintendent of Financial Institutions Canada (OSFI) to the 2012 Life Insurance Invitational Forum.

“It is always a pleasure to meet with you at this annual forum, which brings many of the life insurance industry’s key players into one room.

I was here almost exactly a year ago. The main topic then was the challenge of a sustained low interest rate environment, and its effects on your business, with its long term guarantees.

At that time, I said that if rates continued at their then current level (less than 3% on 30-year government bonds), it would be a real game changer. I cautioned that the environment would likely be getting more difficult, as pricing decisions of the past would not be masked by stellar investment returns.

Where are we today?

→ Read Superintendent Julie Dickson’s full remarks (PDF)

About OSFI

OSFI is an independent agency of the Government of Canada. It reports to the Minister of Finance. For more information visit