List of peer review work
In the BattleCards, examining MCT/BAAT assumptions and methods is still listed as what should be reviewed by the peer reviewer, but is it no longer listed in the source.
There is also some changes in other elements listed for the peer review work, between the updated and the previous version of the source, that were not reflected in the BattleCards (documentation, no longer a separate item for FCT assumptions and methods).
Comments
BAAT/MCT assumptions to be reviewed by the peer reviewer is stated in 4.3 at the bottom
"In addition to the peer review of the valuation of actuarial and other policy liabilities and the FCT, for life insurers, the peer reviewer will review the work of the AA required for OSFI’s capital returns (for example, LICAT/LIMAT) in the areas that require actuarial assumptions and calculations and ensure the work is consistent with the report, if any, accompanying these returns. For P&C insurers, the peer reviewer will review the work of the AA that is required by the Memorandum to be included in the AAR and is used in the calculation of the MCT or MICAT."
I'll look at the other statement