LIMAT Ratio Public Disclosure Summary as of December 31, 2025

Knights of Columbus Insurance Canadian Branch

The Life Insurance Margin Adequacy Test (LIMAT) rules contain detailed instructions for determining the amount of capital that a fraternal benefit society is required to maintain in respect of its business activities. OSFI has established supervisory target levels of 100% for total ratio and 70% for core ratio. Organizations are required, at a minimum, to maintain a total ratio of 90% and a core ratio of 55%, respectively. The Society’s policy is to maintain a capital position that is in excess of its internal capital adequacy target level ratios of 155% for total ratio and 125% for core ratio. Management actively monitors the capital position of the Society to ensure its internal capital target level ratio is maintained. The Society’s ratio is currently in excess of regulatory minimums.

The table below details the Society’s LIMAT ratio calculation as of December 31, 2025 and 2024:

	2024	2025
Assets available	$4,156,016	$4,089,615
Assets required	(3,735,016)	(3,736,310)
Available margin	421,000	353,305
Surplus allowance and eligible deposits	131,834	132,952
Total available margin and surplus, allowance and eligible deposits	552,834	486,257

	2024	2025
LIMAT ratios:
Core ratio	226.26%	244.02%
Total ratio	257.85%	273.62%

The December 31, 2025 LIMAT total ratio has decreased from the total ratio at December 31, 2024. Changes in actuarial assumptions and movement in interest rates have contributed to the decrease.

The Society’s policies and procedures are designed to identify, measure and report risks. Management has established procedures for monitoring the adequacy of capital. The Audit Committee, which acts on behalf of the Board of Directors, reviews and approves management’s risk and solvency assessment of the Society. 

(Amounts expressed in CAD $’000)

LIMAT Ratio Public Disclosure Summary as of December 31, 2025

Knights of Columbus Insurance Canadian Branch

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