Canada’s banking and insurance regulator has revised its capital requirements for the property and casualty (P&C) insurance sector, and the largest insurer in the sector believes the move is positive.
The Office of the Superintendent of Financial Institutions (OSFI) is changing the Minimum Capital Test (MCT) guidelines for insurers, to better align the amount of capital companies are required to hold with the modern risks they face.
A company’s MCT level is expressed as a ratio of total capital available, divided by the total capital required to meet commitments.
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Jacquline Nelson – Globe and Mail – September 26, 2014.
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