Does OSFI regulate insurance companies?
OSFI regulates and supervises federally regulated life insurance companies (including branches, foreign subsidiaries, fraternal and mutual companies) and their subsidiaries, and federally regulated property and casualty insurance companies (including branches, foreign subsidiaries, and mutual companies) and their …
Is OSFI a Crown corporation?
While the Department of Finance reports directly to the minister, OSFI and the others are arm’s-length agencies or Crown corporations, reporting to Parliament through the minister.
Are credit unions regulated by OSFI?
Federal credit unions Until 2016, credit unions were regulated exclusively by the provinces. The model wove in unique cooperative elements for federal credit unions and established transitional elements to facilitate the migration of credit unions to federal jurisdiction and subject to OSFI’s regulation.
Are insurance companies federal or provincial?
The insurance industry is closely monitored and regulated by both federal and provincial governments to ensure that insurance companies and their intermediaries are able to meet their financial obligations to policyholders.
Is CMHC regulated by OSFI?
The mortgage insurance industry in Canada comprises three participants: two private sector insurers regulated by OSFI and the Canada Mortgage and Housing Corporation (CMHC), which is a Crown corporation also subject to OSFI oversight.
What regulates OSFI?
The Office of the Superintendent of Financial Institutions (OSFI) regulates and supervises all banks and federally incorporated or registered trust and loan companies in Canada, as well as insurance companies and fraternal benefit societies.
What is the biggest credit union?
NAVY FEDERAL CREDIT UNION
Largest U.S. Credit Unions by Assets
| Rank | Credit Union | Total assets |
|---|---|---|
| 1 | NAVY FEDERAL CREDIT UNION | 125,580,858,822 |
| 2 | STATE EMPLOYEES’ | 42,845,127,139 |
| 3 | PENTAGON | 25,108,795,493 |
| 4 | BOEING EMPLOYEES | 22,708,789,873 |
What kind of insurance companies are OSFI regulated?
OSFI regulates and supervises federally regulated life insurance companies (including branches, foreign subsidiaries, fraternal and mutual companies) and their subsidiaries, and federally regulated property and casualty insurance companies (including branches, foreign subsidiaries, and mutual companies) and their subsidiaries.
What is the Office of the superintendent of Financial Institutions ( OSFI )?
What Is the Office of the Superintendent of Financial Institutions (OSFI)? The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada that is responsible for the supervision and regulation of banks, insurance companies, and trust and loan companies.
Are there any missing financial data from OSFI?
As a result, please note that some FI data may therefore be missing and aggregate totals may be incomplete for the foreseeable future. OSFI will refresh its’ financial data web page once all filings have been received. Reports will open in a new window. Please ensure pop-up windows are enabled for this site.
Why is OSFI proud to work at OSFI?
OSFI supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight. Why I am proud to work at OSFI! Protecting Canada from a financial crisis
