For simplicity, we use the letters K, M, B, and T to refer
to thousands, millions, billions and trillions, respectively.
Wherever possible, figures presented here relate to
the Canadian life and health insurance business of
companies of all national origins. However, where
relevant, the numbers relate only to the worldwide
business of Canadian companies.
Adoption of IFRS 17 and its impact on future editions
In 2023, Canadian life and health insurance companies
adopted International Financial Reporting Standard 17 -
Insurance Contracts (IFRS 17). This new global standard
for the measurement and reporting of insurance
contracts is expected to result in significant changes to
how financial results are reported by CLHIA's members
and future editions of this publication.
Canadian Life & Health Insurance Facts // 2023 Edition
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