1. CIA Annual Meeting LOOKING BACK…focused on the future

2. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update Micheline Dionne CICA Section 3855 on asset measurement Byron Corner Use of Actuarial Judgement under GAAP Ty Faulds

3. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update Recent releases CLIFR related sessions Fall Letter

4. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update – Recent releases Best Estimate Assumption for Expenses January 2005 Revision to section 2300 - June 2005 No major changes from Exposure draft released in February Paragraph on Statistical Fluctuations to be modified to reflect comments and moved to section 2100 to broaden its applicability French version reviewed for compatibility with English version and readability

5. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update – Recent releases Exposure-draft on Section 2100 – Not released yet Statistical fluctuation paragraph to allow Stochastic modelling but prevent being used as an offset to change in experience Draft Educational Note on Margins for adverse deviations – February 2005 To be finalized upon adoption of changes to section 2100 To be referred to in the Fall Letter

6. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update – Recent releases Exposure-draft Section 2330 – June 2005 Comments period to August 31 st, 2005 Session 5610 tomorrow

7. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update – CLIFR related Sessions CLIFR on investment – session 5610 at 10h15 tomorrow Equity return Reinvestment rates Measuring and managing currency risks – session 5404 at 10h15 tomorrow

8. CIA Annual Meeting Session 1601: CLIFR Update LOOKING BACK…focused on the future General Update – Fall Letter Reference to draft Ed. Note on MfADS Early implementation of Section 2330, if not adopted for year-end Calibration of Interest rates firmer guidance – 2005 AA seminar Currency – Session 5404 Use of Actuarial Judgement Best estimate assumption in a volatile environment Change in CTE levels Long-Term Equity returns – session 5610