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 www.osfi-bsif.gc.ca.