ORSA - Next Steps | KPMG | CA

ORSA - Next Steps

ORSA - Next Steps

The first Canadian ORSAs, detailed observations, and the way forward


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ORSA - Next Steps

Federally regulated insurers completed their first Own Risk and Solvency Assessment (ORSA) by the end of 2014, and this requirement is spreading to some provincial jurisdictions as well. This is just the start - most companies gave their first ORSA their best effort, while recognizing more development will be needed in future. Company management and directors now need to establish the processes for monitoring and oversight of their risk and capital positions in between annual updates of the ORSA.

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