FSRA establishes dedicated Property & Casualty division, announces leadership changes
The Financial Services Regulatory Authority of Ontario (FSRA) is strengthening its oversight of the Property & Casualty (P&C) insurance sector through the establishment of a dedicated P&C Division. The Division’s initial focus will be on market conduct and ultimately be consolidated with prudential regulation of Ontario-incorporated insurance companies.
The new division is designed to enhance sector focus, coordination, and accountability, and to further strengthen FSRA’s ability to identify and respond to emerging market risks, while maintaining continuity in regulatory supervision and expectations for industry.
Leadership appointments
Effective February 1, Jordan Solway, currently Executive Vice President, Legal & Enforcement, will assume the role of Acting Executive Vice President, Property & Casualty. Jordan will lead the accelerated stand-up of the new division, with a targeted go-live date of February 15.
Jordan brings deep regulatory and P&C operational experience, along with a strong track record of leading complex, cross-functional work. He was responsible for setting up the Legal & Enforcement function at FSRA and has been instrumental contributing to the development of the principles-based and outcomes focused regulatory approach that has been used across FSRA.
To ensure continuity within Legal & Enforcement during this period, Jeff Kehoe has been appointed Interim Executive Vice President, Legal & Enforcement, effective February 1. Jeff brings more than 20 years of experience leading regulatory legal, governance, and enforcement functions, including senior roles at the Ontario Securities Commission and the Investment Industry Regulatory Organization of Canada (now the Canadian Investment Regulatory Organization).
What this means for industry
The creation of the P&C Division does not change regulatory requirements, supervisory expectations, or FSRA’s enforcement posture. Oversight activities will continue uninterrupted.
As of February 15, P&C Conduct Supervision, Auto Insurance Supervision (rating and underwriting), and Actuarial Services will align under the new division to support a more integrated approach to P&C oversight.
FSRA will continue to share updates as the division becomes operational.
Learn more
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.