MSA Releases Comprehensive Q1-2023 P&C Industry Results
We are pleased to advise you that the MSA Researcher P&C analytical platform has been updated to include preliminary first quarter (Q1) 2023 financial data for the overwhelming majority of P&C insurers in Canada. To access these rich data sets, log into your MSA Researcher account here.
Final Q1 P&C and Life/Health data will be released in the coming days.
Q1-2023 is the first ever data release under the new IFRS-17 standard. Like carriers in Canada and around the world, MSA has been preparing for this moment for the past several years, months, weeks and days. We, like many of you are adapting to the new world, with new statements, concepts, KPI’s and metrics. Fortunately we have not been doing this on our own and we are guided by an awesome advisory committee consisting of:
· Jean-Sebastien Boutin, Co-operators
· Alan Chan, OSFI
· Erry Chen, OSFI
· Paul Downes, Deloitte
· Sarah Fong, IBC
· Trenton Haggard, OSFI
· Farhan Karamat, Travelers
· Hudson Lopez, KPMG
· Alice Lumley, Odyssey Re
· Raj Matharu, Deloitte
· Alexandre Morin, Intact
· Harpreet Roopra, CLHIA
· Matthew Sudds, Co-operators
· Owen Thomas, PwC
· Nazir Valani, Valani Global and
· Daniel Willmann, EY
Our work has only begun. The KPI’s and exhibits you will see in the Q1 dashboard have been a result of a collaborative effort and are preliminary. They are only now being tested against real data. Please take that into consideration as you review them. They may be revised or adjusted as a result of learnings, insights and feedback. They are but a starting point. We welcome your feedback and suggestions as you work through the data and we will be working with our esteemed committee to build on what we have for the benefit of all that care about the Canadian P&C and Life/Health industries.
Note that all the work you’ve put into the platform in the past remains unaffected. If you choose periods prior to Q1-2023 you will find everything there in familiar IFRS-4 terms.
Please regularly monitor the Release/Technical Notes on the home page of the application for issues and updates.
You may find some quirks that still need to be worked out. Please bear with us. If you see anything odd don’t hesitate to reach out.
If you need assistance or have any questions, please do not hesitate to contact Tesfaye Fekade at tesfaye.fekade@msaresearch.com.