PART I GENERAL
Annual report
36 (1) The Chief Executive Officer shall prepare for the Minister, from the statements filed by the insurers and from any inspection or inquiries made, an annual report, showing particulars of the business of each insurer as ascertained from such statement, inspection and inquiries, and such report shall be published on the website of the Authority promptly after completion.  R.S.O. 1990, c. I.8, s. 36 (1) ; 2018, c. 8, Sched. 13, s. 22; 2020, c. 34, Sched. 7, s. 2. Permissible investments (2) In his or her annual report the Chief Executive Officer shall allow as assets only such of the investments of the several insurers as are authorized by this Act, or by their Acts or instruments of incorporation, or by the general Acts applicable to such investments.  R.S.O. 1990, c. I.8, s. 36 (2) ; 2018, c. 8, Sched. 13, s. 22. Chief Executive Officer’s corrections of annual statements (3) In his or her annual report the Chief Executive Officer shall make all necessary corrections in the annual statements made by all licensed insurers as provided in this Act, and the Chief Executive Officer is at liberty to increase or diminish the liabilities of such insurers to the true and correct amounts thereof as ascertained by him or her in the examination of their affairs at the head office thereof in Ontario, or otherwise.  R.S.O. 1990, c. I.8, s. 36 (3); 2018, c. 8, Sched. 13, s. 22. Appraisement of real property owned by insurer (4) If it appears to the Chief Executive Officer, or if he or she has any reason to suppose, from the annual statements prepared and delivered to him or her by all insurers, that the value placed by any insurer, incorporated and licensed in Ontario, upon the real property owned by it or any parcel thereof is too great, the Chief Executive Officer may require such insurer to secure an appraisement of such real property by one or more competent valuators or the Chief Executive Officer may procure such appraisement at the expense of the insurer, and the appraised value, if it varies materially from the statement or return made by the insurer, may be substituted in the annual report of the Chief Executive Officer.  R.S.O. 1990, c. I.8, s. 36 (4); 2006, c. 33, Sched. O, s. 2; 2018, c. 8, Sched. 13, s. 22. Appraisement of real property held as security for loans (5) In like manner, if it appears to the Chief Executive Officer, or if he or she has any reason to suppose, that the amount secured by mortgage or hypothec upon any parcel of real property, together with the interest due and accrued thereon, is greater than the value of the parcel, or that the parcel is not sufficient for the loan and interest, the Chief Executive Officer may procure an appraisement thereof and, if from the appraised value it appears that the parcel is not adequate security for the loan and interest, he or she may write off the loan and interest a sum sufficient to reduce the loan to such an amount as may fairly be realizable from the security, in no case to exceed the appraised value, and the Chief Executive Officer may insert the reduced amount in his or her annual report.  R.S.O. 1990, c. I.8, s. 36 (5); 2006, c. 33, Sched. O, s. 2; 2018, c. 8, Sched. 13, s. 22. Appraisement of other investments (6) In like manner, if it appears to the Chief Executive Officer, or if he or she has any reason to suppose, that the value of any other investment of the funds of the insurer is less than the amount of the value of the investments shown in the books of the insurer, the Chief Executive Officer may make or cause to be made an appraisal of the security, and, if from the appraised value it appears that the value of the security as shown on the books of the insurer is greater than its true value as shown by the appraisal, he or she may reduce the book value of the security to such amount as may fairly be realizable from the security, in no case to exceed the appraised value, and the Chief Executive Officer may insert the reduced amount in his or her annual report.  R.S.O. 1990, c. I.8, s. 36 (6) ; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2006, c. 33, Sched. O, s. 2 - 05/05/2008 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 2020, c. 34, Sched. 7, s. 2 - 08/12/2020