Form CC‑10
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ABC Corporation Limited
CC‑10
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 | |
| Appropriations | |||
| Other revenues (specify): see below
|
5 | ||
| 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.
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