Income Tax Regulations — 2400
st is deemed to be an insurer; or (e) an amount due or an amount accrued to the insurer on account of income that (i) is from designated insurance property for the year that is investment property of the insurer for the year because of any of paragraphs (a) to (d), and (ii) is supporting the insurer’s Canadian insurance contract liabilities for the year. ( bien de placement ) liability for incurred claims for a group of insurance contracts of an insurer at the end of a taxation year has the same meaning as in subsection 138(12) of the Act. ( passif au titre des sinistres survenus ) liability for remaining coverage for a group of insurance contracts of an insurer at the end of a taxation year has the same meaning as in subsection 138(12) of the Act. ( passif au titre de la couverture restante ) mean Canadian outstanding premiums [Repealed, 2022, c. 19, s. 85] mean Canadian reserve liabilities of an insurer for a taxation year means 50% of the total of (a) its Canadian reserve liabilities as at the end of the year, and (b) its Canadian reserve liabilities as at the end of its preceding taxation year. ( moyenne du passif de réserve canadienne ) mean maximum tax actuarial reserve in respect of a particular class of life insurance policies of an insurer for a taxation year means 50% of the total of (a) its maximum tax actuarial reserve for that class of policies for the year, and (b) its maximum tax actuarial reserve for that class of policies for its preceding taxation year. ( provision actuarielle maximale moyenne aux fins d’impôt ) mean policy loans [Repealed, 2022, c. 19, s. 85] outstanding premiums [Repealed, 2022, c. 19, s. 85] policyholders’ liabilities of an insurer at the end of a taxation year has the same meaning as in subsection 138(12) of the Act. ( obligation envers les titulaires de polices ) property and casualty surplus of an insurer for a taxation year means the amount determined by the formula 0.075 × (A + B + C + D − E − F) + 0.5 × (G + H) where A is the total of all amounts each of which is the liability for remaining coverage for a group of insurance contracts of the insurer at the end of the year that is in respect of property and casualty insurance; B is the total of all amounts each of which is the liability for remaining coverage for a group of insurance contracts of the insurer at the end of the preceding taxation year that is in respect of property and casualty insurance; C is the total of all amounts each of which is the liability for incurred claims for a group of insurance contracts of the insurer at the end of the year that is in respect of property and casualty insurance; D is the total of all amounts each of which is the liability for incurred claims for a group of insurance contracts of the insurer at the end of the preceding taxation year that is in respect of property and casualty insurance; E is the total of all amounts each of which is an amount, in respect of a group of reinsurance contracts held by the insurer at the end of the year, that is (a) if no portion of the reinsurance contract held amount for the group is in respect of the reinsurance of a risk under a policy other than a policy that is in respect of property and casualty insurance, the reinsurance contract held amount for the group, and (b) in any other case, the amount that would be the reinsurance contract held amount for the group if the reinsurance contract held amount were determined excluding any portion that is in respect of the reinsurance of a risk under a policy other than policies in respect of property and casualty insurance; F is the total of all amounts each of which is an amount, in respect of a group of reinsurance contracts held by the insurer at the end of the preceding taxation year, that is (a) if no portion of the reinsurance contract held amount for the group is in respect of the reinsurance of a risk under a policy other than a policy that is in respect of property and casualty insurance, the reinsurance con