Enabling Ontario Insurers to maintain stability and long-term viability

To help Ontario-incorporated Insurance Companies and Reciprocal Insurance Exchanges (Insurers) manage their risks more effectively and maintain adequate capital, the Financial Services Regulatory Authority of Ontario (FSRA) is releasing the Own Risk and Solvency Assessment (ORSA) Guidance.

The Guidance describes FSRA’s principles-based approach for assessing an Insurer’s ORSA, which supports prudent capital management. The Guidance also sets out principles and intended outcomes that, when achieved, can demonstrate overall effective capital management.

The Guidance is aligned with FSRA’s principles-based approach by allowing for flexibility and applying proportionality when FSRA assesses the effectiveness of an Insurer’s ORSA.

The final Guidance was informed by a public consultation, which was held for 60 days from November 28, 2024, to January 28, 2025. FSRA thanks all stakeholders who provided feedback and participated in the consultation.

Learn more

• Own Risk and Solvency Assessment Guidance for Ontario-incorporated Insurance Companies and Reciprocal Insurance Exchanges
• Consultation summary report

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

Learn more at fsrao.ca.