The Guideline on Capital Adequacy Requirements – Property and casualty insurance sets out the AMF’s requirements regarding the capital adequacy framework applicable to P&C insurers. Capital adequacy is determined from a risk-based formula, as defined by the Minimum Capital Test (MCT), used to measure the adequacy of available capital in relation to target required capital.
Guideline in effect
-
Guideline on Capital Adequacy Requirements - Property and Casualty Insurance
(pdf - 1 MB)
This link will open in a new windowUpdated on November 27, 2025
Revised January 2026
Previous version
-
Guideline on Capital Adequacy Requirements - Property and Casualty Insurance
(pdf - 1 MB)This link will open in a new windowUpdated on November 28, 2024
Revised January 2025
-
Guideline on Capital Adequacy Requirements - Property and Casualty Insurance
(pdf - 2 MB)This link will open in a new windowUpdated on November 28, 2024
Track changes - Revised January 2025
-
Notice relating to the application of the Guideline on Capital Adequacy Requirements – Property and Casualty Insurance
(pdf - 214 KB)This link will open in a new windowUpdated on December 14, 2023
-
Notice relating to the eligibility of limited recourse capital notes as Tier 1 capital instruments other than Common Shares, Category B or Tier 1B capital instruments
(pdf - 210 KB)This link will open in a new windowUpdated on June 29, 2023
-
Guideline on Capital Adequacy Requirements - Property and Casualty Insurance
(pdf - 2 MB)