OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS (OSFI) • INSURANCE GOVERNANCE
Canada insurance governance for boards.
Board governance for federally regulated insurers in Canada: OSFI expectations on strategy, risk appetite, oversight functions, senior management and effective corporate governance.
Canada
REGULATED MARKET
Office of the Superintendent of Financial Institutions (OSFI)
PRIMARY REGULATORY ANCHOR
Board
DECISION & OVERSIGHT LENS
Direct Answer
What should an insurance board know about governance in Canada?
For federally regulated Canadian insurers, OSFI's Corporate Governance Guideline places the board at the centre of strategy, risk appetite, culture, senior-management oversight and internal controls. Effective insurance governance therefore requires directors to challenge management on both business performance and the quality of the institution's risk and control environment.
Regulatory Anchor
Office of the Superintendent of Financial Institutions (OSFI)
This page is grounded in current official regulator material rather than generic market commentary. Regulatory sources are listed below and should be checked whenever a board decision depends on the precise legal or supervisory position.
Official RegulatorBoard Priorities
The governance agenda should translate regulation into management evidence and board decisions.
Approve and oversee strategy, risk appetite and significant strategic initiatives.
Maintain effective oversight of senior management and the institution's control environment.
Ensure board information supports timely, independent and well-evidenced challenge.
Connect transformation, technology and operating-model decisions to prudential and policyholder risk.
Questions For Directors
Questions that turn regulatory awareness into board challenge.
Official Sources
Regulatory sources reviewed for this market page.
Related Authority