Form CC‑10

Receiver General Manual - Chapter 18 - Top of the page navigation

ABC Corporation Limited
Insurance programs
March 31, 2017

(Applicable to Canada Mortgage and Housing Corporation (CMHC), Canada Deposit Insurance Corporation (CDIC), Export Development Canada (EDC) and other Crown corporations or other reporting entities operating insurance programs)

Report covers period ending: March 31, 2017

Insurance programs of Crown corporations and other entities

Name of insurance program - ABC loan fund

Table Summary

This table consists of four columns: Insurance program details, Current period, (A)/(B)/(C)/(D) and Prior period. The rows are divided into two groups: Revenues for the period and Expenses for the period.

Insurance program details Current period (A)/(B)/(C)/(D) Prior period 59
Insurance in force as at reporting date indicated above 40,300   37,500
Opening balance of Fund as at current and previous April 1 500 (A) -200
Revenues for the period
Premiums and fees 35   15
Investment income 10   3
Other revenues (specify): see below

Total revenues 50 (B) 18
Expenses for the period
Loss on/provision for claims 100   200
Interest on borrowings 25   10
Administrative expenses 15   20
Funds returned to Government      
Other expenses (specify):

Total expenses 140 (C) 230
Profit (loss) for the period (B-C) -90 (D) -212
Closing balance of Fund (A+D) 410   -412
Net claims paid and accrued since April 1 78   61
Five year average of net claims paid 33   26

Results of most recent actuarial study/valuation

An actuarial study of the Fund at September 30, 2012 indicated a fund deficiency of $438.

Material factors affecting operation or balance of fund/allowance

Other revenues of $5 represent profit from administrative activity. It is expected that the Government will contribute $600 in the next quarter. Premiums will be increased 20 percent by December 31.

Receiver General Manual - Chapter 18 - Bottom of the page navigation

Date modified: