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Julie Dickson, Superintendent for the Office of the Superintendent of Financial Institutions (OSFI). The banking and insurance regulator will delay planned changes to the life insurance capital framework until 2016.
Julie Dickson, Superintendent for the Office of the Superintendent of Financial Institutions (OSFI). The banking and insurance regulator will delay planned changes to the life insurance capital framework until 2016.
(Fred Lum/The Globe and Mail)

OSFI delays decision on insurers’ capital requirements

Canada’s banking and insurance regulator is postponing by two years the deadline for life insurers to meet upcoming changes to capital requirements.

The Office of the Superintendent of Financial Institutions (OSFI) said that it would delay finalizing the life insurance capital framework until 2016, and give the industry two years beyond that to adopt the changes.