Member Companies Resources
Every life and health insurance company authorized to sell insurance in Canada is required, by the federal, provincial, and territorial regulators, to become a member of Assuris under the Insurance Companies Act of Canada. Fraternal benefit societies and prepaid medical services companies can opt to become a member of Assuris. Member companies cannot terminate their membership as long as they have active business in Canada.
As a member company of Assuris, you are encouraged to communicate to prospective and current policyholders the added security and safety net provided by Assuris. Benefits of being a Member of Assuris:
- Raises awareness of the safety net provided by Assuris in the unlikely event that a member life and health insurance company fails
- Promotes the strength of the Canadians life and health insurance industry
- Demonstrates the industry’s commitment to the financial wellbeing of all Canadians
As a member company, this page is your home for everything you need to know about Assuris governance.
Financial Reporting
Download Assuris’ financial statements:
Financial Statements ended September 30, 2024
Financial Statements ended June 30, 2024
Financial Statements ended March 31, 2024
Financial Statements ended September 30, 2023
Annual Reports
Download Assuris’ annual reports:
Communication Guidelines
We created this communication package to help you share accurate and consistent information about Assuris. Please use the following tools and resources on your communication channels and networks including your distribution network.
Governance
Assuris is committed to best-in-class governance standards, maintaining excellent practices and processes, to meet our objective of protecting Canadian life and health insurance policyholders.
Assuris By-Laws
Assuris Memorandum of Operation
Member Information Request
Legal Basis for Assuris to Request Member Information
Our member companies have signed a membership agreement with Assuris where they confirm “acceptance of membership in the Corporation including all of the responsibilities of membership as described in the Corporation’s organizational documents as amended from time to time, and the commitment to act in conformity with those documents as amended from time to time, including payment of assessments” (Assuris By-law No. 1 (2018), Schedule A, Form of Membership Agreement Between Insurer and the Corporation). The Assuris By-law No. 1 and the Memorandum of Operation are organizational documents of Assuris (the Corporation).
Pursuant to Article 6 of Assuris By-Law No. 1, Information About Members To Be Provided By Members, “each Member will provide the Corporation with information concerning the Member, its parent or affiliates as requested by the Corporation from time to time for use by the Corporation in carrying out the objects of the Corporation”. This information “includes, but is not limited to, information to assist the Corporation in identifying Members who may become (…) Insolvent Members” and may include “special purpose requests” (Assuris By-law No. 1 (2018), Article 6.1.1).
In addition, further to the most recent amendments to the Assuris Memorandum of Operation (2024), section 1.02, Resolution Planning and Resolvability Assessment, states that “each Member will also provide the Corporation with information to satisfy special purpose requests made by the Corporation to assist the Corporation in a. assessing the resolvability of a Member and making recommendations on how the resolvability could be improved (…) or b. planning for the resolution of a Member or a group of Members”.
Confidentiality and Litigation Privilege
As with all information requests, whether they are made pursuant to the Assuris By-law or the Memorandum of Operation, the information member companies provide Assuris is confidential. Pursuant to Article 6.3 of Assuris By-Law No. 1, Confidentiality, “all information regarding the business and/or affairs of a Member, its parent or affiliates that is obtained by the Corporation under this ARTICLE 6 is confidential information and will be treated accordingly. The Corporation will use such information only in carrying out the objects of the Corporation” (Assuris By-law No. 1 (2018), Article 6.3).
The Memorandum of Operation (2024) stipulates that “The provisions under Article 6.3 of the By-Law apply to all information regarding the business and/or affairs of a Member, its parent or affiliates obtained by the Corporation under Article 1.02 of this Memorandum of Operation.”
A subset of Member information can be withheld from Assuris. In fact, pursuant to Article 6 of Assuris By-Law No. 1, Information About Members To Be Provided By Members, “a Member is not required to disclose information for which that Member would be entitled to claim privilege from disclosure in litigation, or where disclosure is prohibited by law” (Assuris By-law No. 1 (2018), Article 6.1.2).
Financial Reporting
Download Assuris’ financial statements:
Financial Statements ended September 30, 2024
Financial Statements ended June 30, 2024
Financial Statements ended March 31, 2024
Financial Statements ended September 30, 2023
Annual Reports
Download Assuris’ annual reports:
Communication Guidelines
We created this communication package to help you share accurate and consistent information about Assuris. Please use the following tools and resources on your communication channels and networks including your distribution network.
Governance
Assuris is committed to best-in-class governance standards, maintaining excellent practices and processes, to meet our objective of protecting Canadian life and health insurance policyholders.
Assuris By-Laws
Assuris Memorandum of Operation
Member Information Request
Legal Basis for Assuris to Request Member Information
Our member companies have signed a membership agreement with Assuris where they confirm “acceptance of membership in the Corporation including all of the responsibilities of membership as described in the Corporation’s organizational documents as amended from time to time, and the commitment to act in conformity with those documents as amended from time to time, including payment of assessments” (Assuris By-law No. 1 (2018), Schedule A, Form of Membership Agreement Between Insurer and the Corporation). The Assuris By-law No. 1 and the Memorandum of Operation are organizational documents of Assuris (the Corporation).
Pursuant to Article 6 of Assuris By-Law No. 1, Information About Members To Be Provided By Members, “each Member will provide the Corporation with information concerning the Member, its parent or affiliates as requested by the Corporation from time to time for use by the Corporation in carrying out the objects of the Corporation”. This information “includes, but is not limited to, information to assist the Corporation in identifying Members who may become (…) Insolvent Members” and may include “special purpose requests” (Assuris By-law No. 1 (2018), Article 6.1.1).
In addition, further to the most recent amendments to the Assuris Memorandum of Operation (2024), section 1.02, Resolution Planning and Resolvability Assessment, states that “each Member will also provide the Corporation with information to satisfy special purpose requests made by the Corporation to assist the Corporation in a. assessing the resolvability of a Member and making recommendations on how the resolvability could be improved (…) or b. planning for the resolution of a Member or a group of Members”.
Confidentiality and Litigation Privilege
As with all information requests, whether they are made pursuant to the Assuris By-law or the Memorandum of Operation, the information member companies provide Assuris is confidential. Pursuant to Article 6.3 of Assuris By-Law No. 1, Confidentiality, “all information regarding the business and/or affairs of a Member, its parent or affiliates that is obtained by the Corporation under this ARTICLE 6 is confidential information and will be treated accordingly. The Corporation will use such information only in carrying out the objects of the Corporation” (Assuris By-law No. 1 (2018), Article 6.3).
The Memorandum of Operation (2024) stipulates that “The provisions under Article 6.3 of the By-Law apply to all information regarding the business and/or affairs of a Member, its parent or affiliates obtained by the Corporation under Article 1.02 of this Memorandum of Operation.”
A subset of Member information can be withheld from Assuris. In fact, pursuant to Article 6 of Assuris By-Law No. 1, Information About Members To Be Provided By Members, “a Member is not required to disclose information for which that Member would be entitled to claim privilege from disclosure in litigation, or where disclosure is prohibited by law” (Assuris By-law No. 1 (2018), Article 6.1.2).
