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CLHIA Comments on the Application of the Key Attributes of Effective Resolution Regimes to Insurers


Release Date: 10/15/2013
Staff Reference: Noeline Simon; Anthony Zobl

October 15, 2013

Secretariat to the Financial Stability Board
Bank for International Settlements
Centralbahnplatz 2
CH-4002 Basel
Switzerland


Re: Application of the Key Attributes of Effective Resolution Regimes to Non-Bank Financial Institutions


The Canadian Life and Health Insurance Association (CLHIA) welcomes the opportunity to provide its views to the Financial Stability Board (FSB) on the consultation document entitled “Application of the Key Attributes of Effective Resolution Regimes to Non-Bank Financial Institutions”.

Established in 1894, the Canadian Life and Health Insurance Association (CLHIA) is a voluntary trade association that represents the collective interests of its member life and health insurers. Our industry provides a wide range of financial security products such as life insurance, annuities and supplementary health insurance to about 27 million Canadians. Internationally, Canadian life and health insurers have a presence in over 20 jurisdictions around the world and generate over $48 billion or 40% of their total premiums from foreign operations.

The comments below reflect the views of the Canadian life and health insurance industry on the Application of the Key Attributes of Effective Resolution Regimes to Non-Bank Financial Institutions. As a member of the Global Federation of Insurance Associations (GFIA), we also endorse the comments put forward in GFIA’s submission...