Life Insurance Return – Section V – Jurisdictional Requirements
Information
Table of contents
General instructions
Since the insurance legislation in the various jurisdictions in Canada is not exactly the same, certain differences must be accommodated.
Everything related to each jurisdiction can now be found in this section, including filing requirements/dates and mailing addresses.
Also included are the statutory references that may be necessary to provide authoritative references for the completion of each jurisdiction's file.
Regulators
Alberta
Superintendent of Insurance
Alberta Government
402 Terrace Building
9515-107 Street
Edmonton, AB T5K 2C3
Telephone: (780) 643-2237
Fax: (780) 420-0752
British Columbia
Superintendent
BC Financial Services Authority
600-750 West Pender Street
Vancouver, BC V6C 2T8
Telephone: (604) 660-3555
Fax: (604) 660-3365
Manitoba
Deputy Superintendent of Financial Institutions - Insurance
Financial Institutions Regulation Branch
207 - 400 St. Mary Avenue
Winnipeg, MB R3C 4K5
Telephone: (204) 945-2542
Fax: (204) 948-2268
New Brunswick
Superintendent of Insurance
Financial and Consumer Services Commission
225 King Street, Suite 200
Fredericton, NB E3B 1E1
Telephone: (866) 933-2222
Fax: (506) 453-7435
Newfoundland and Labrador
Superintendent of Insurance
Service NL
West Block Confederation Bldg., 2nd Floor
Prince Philip Drive, P.O. Box 8700
St. John's, NL A1B 4J6
Telephone: (709) 729-4189
Fax: (709) 729-3205
Northwest Territories
Superintendent of Insurance
Department of Finance
Government of the Northwest Territories
P.O. Box 1320; YK-3
Yellowknife, NT X1A 2L9
Telephone: (867) 767-9171, ext 15252 or 15083
Fax: (867) 920-6133
Nova Scotia
Deputy Superintendent of Insurance
Trust and Loan Companies, Credit Unions and Pensions
Nova Scotia Department of Finance
P.O. Box 2271
Halifax, NS B3J 3C8
Telephone: (902) 424-4987
Fax: (902) 424-1293
Nunavut
Superintendent of Insurance
Department of Finance
Government of Nunavut
PO Box 2260
Iqaluit, NU X0A 0H0
Telephone: (867) 975-5889
Fax: (867) 975-5845
Ontario
Chief Executive Officer
Financial Services Regulatory Authority of Ontario
5160 Yonge Street
Box 85, 17th Floor
North York, ON M2N 6L9
Telephone: (416) 250-7250
Toll-Free: (800) 668-0128
Québec
Superintendent of Solvency
Autorité des marchés financiers
Place de la Cité, Cominar Tower
2640 Laurier Boulevard, 4th floor
Québec, QC G1V 5C1
Telephone: (418) 525-0337 ext. 4501
Fax: (418) 525-4509
Prince Edward Island
Government of PEI - Superintendent of Insurance
Department of Environment, Labour and Justice
95 Rochford Street
P.O. Box 2000
Charlottetown, PEI C1A 7N8
Telephone: (902) 368-4550
Fax: (902) 368-5283
Saskatchewan
Superintendent of Insurance
Insurance and Real Estate Division
Financial and Consumer Affairs Authority of Saskatchewan
1919 Saskatchewan Drive, 6th Floor
Regina, SK S4P 4H2
Telephone: (306) 787-6700
Fax: (306) 787-9006
Yukon
Superintendent of Insurance
Professional Licensing & Regulatory Affairs C-5
Government of Yukon
Box 2703
Whitehorse, YT Y1A 2C6
Telephone: (867) 667-5111
Fax: (867) 667-3609
Federal
Risk & Data Analytics
Office of the Superintendent of Financial Institutions
255 Albert Street, 12th Floor
Ottawa, ON K1A 0H2
Telephone: (613) 991-0609
Fax: (613) 991-6118
Newfoundland & Labrador
Other specific instructions necessary to meet Newfoundland & Labrador's requirements may be circulated by the Superintendent to the appropriate insurers, prior to year end.
Legislation
Refer to NL's website.
Language
Contact Regulator.
Signature requirements
The province of Newfoundland & Labrador has no section in the Insurance Companies Act stating specifically who must verify the Annual Return.
Statutory filings by federally registered insurers
Statutory filings made by federally registered insurers only need to be submitted to the Office of the Superintendent of Financial Institutions, Canada.
Actuary's report – for provincially regulated companies only
N/A
Statutory filings by insurers incorporated in a province other than Newfoundland & Labrador
Only page 95.010 of the LIFE Statutory Filings is required to be filed.
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | n/a | 1 | Extra provincial insurers are only required to provide page 95.010. Not required for federally registered insurers due to information sharing agreement with OSFI. |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | n/a | 1 | Not required for federally registered insurers due to information sharing agreement with OSFI. |
LIFE Quarterly Filing – Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual – Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Quarterly – Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual – Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Prince Edward Island
Other specific instructions necessary to meet Prince Edward Island's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to PEI's website.
Language
Contact Regulator.
Signature requirements
The Annual Return shall be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors, and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
Federally registered life insurers are only required to file page 95.010 from their LIFE returns (inclusive).
Actuary's Report
Insurers are required to file only a Certificate of Opinion with the condition that a copy of the Actuary's Report be available at any time upon request.
Statutory filings by Quebec incorporated life insurers
Quebec-registered life insurers are only required to file page 95.010 from their LIFE returns (inclusive).
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
Life Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement, Capital and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | n/a | x required | Page 95.010 only. |
Life Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement, Capital and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | n/a | x required | Page 95.010 only. |
Life Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Life Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Nova Scotia
Other specific instructions necessary to meet Nova Scotia's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to NS's website.
Language
Contact Regulator.
Signature requirements
The Annual Return shall be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors, and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
Quebec-registered life insurers are only required to file page 95.010 from their LIFE returns (inclusive).
Actuary's Report
Insurers are not required to file their Actuary's Report with the condition that a copy be available at any time upon request.
Statutory filings by Quebec incorporated life insurers
Quebec-registered life insurers are only required to file page 95.010 from their LIFE returns (inclusive).
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 31 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Reports (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual – Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual – Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Quarterly – Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT – Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
New Brunswick
Other specific instructions necessary to meet New Brunswick's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to NB's website.
Language
Filings in either official language are acceptable.
Signature requirements
The Annual Return shall be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors, and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
N/A
Actuary's Report
Insurers are required to file only a Certificate of Opinion with the condition that a copy of the Actuary's Report be available at any time upon request.
Statutory filings by Quebec incorporated life insurers
Quebec-registered life insurers are required to file one hard copy of their LIFE returns.
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIFE Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR - Financial Condition Testing | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual – Canadian | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual – Foreign | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
Auditor's Report on LIMAT - Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Quebec
Under the Act respecting insurance, CQLR, c. A-32, (the "Act"), every insurer is required to file with the Autorité des marchés financiers (the "AMF" or the "Authority"), in such form as the AMF may determine, the documents and information it requires.
The AMF will no longer send a letter each year listing the documents and information required under the Act. This information will now be available only through the AMF Bulletins and postings on the AMF website.
For further information, consult the Notice on filing for Life Insurers on the AMF website.
Under section 298.14 of the Act, the AMF requires that all life insurers set up under Quebec law practicing life insurance attach to their Annual Return the actuary's certificate. Instructions concerning the presentation of that report as well as the elements to be disclosed are found in the Memorandum to the Appointed Actuary.
Legislation
Refer to QC's website.
Language
N/A
Signature requirements
N/A
Statutory filings by federally registered insurers
Please consult the Notice on the AMF website.
Registered and unregistered reinsurance
To be considered registered, the insurer should be registered in Quebec or in another province or federally regulated.
Registered reinsurer: A reinsurance agreement is deemed registered if it was assumed by an insurer constituted under the laws of Québec, of another province or territory of Canada, or the laws of Canada and in this case licensed by one or more provincial regulator. A reinsurance agreement is also deemed registered if it was assumed by the branch of a foreign company authorized by the federal authority, licensed by one or more provincial regulator, and the branch maintains assets which guarantee the fulfillment of its obligations in relation to the agreement.
Ontario
Other specific instructions necessary to meet Ontario's requirements may be circulated by the Chief Executive Offficer, to the appropriate insurers, prior to year end.
Legislation
Refer to ON's website.
Language
Filings in either official language are acceptable.
Signature requirements
The Annual Return shall be verified, by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
Statutory filings made by federally registered insurers, as required by section 102 of the Ontario Insurance Act, will only need to be submitted to the Office of the Superintendent of Financial Institutions, Ottawa.
Actuary's Report
Subsection 121.13 of the Insurance Act (Part II.1) requires that every insurer incorporated in Ontario, except those described in subsection 121.20, must submit with its Annual Return a valuation report by the appointed actuary on his/her evaluation of actuarial and other policy liabilities of the insurer.
The report must be addressed to the Chief Executive Officer, Financial Services Regulatory Authority of Ontario (FSRA), and must comprise a certificate and a report, both of which must be signed. Detailed instructions for completing the report were forwarded to the insurers and will be updated separately through correspondence with the companies.
Note: Federally regulated insurers are not required to file an actuarial report with FSRA.
Auditor's Report
All insurers incorporated in Ontario are required to have their Auditor's Report addressed to the Chief Executive Officer of Financial Services, Financial Services Regulatory Authority of Ontario.
All provincially incorporated insurers, licensed in Ontario are expected to provide the FSRA with a copy of their Annual Report including the Auditors Report to the shareholders and members when published.
Working papers
Insurers licensed in Ontario are required to maintain appropriate working papers to support information contained in the Annual Return. This is a requirement under Section 443 of the Act.
Statutory filings by foreign insurers licensed in Ontario
Statutory filings (including the Auditor's Report and the Actuary's Report) required to be made by foreign insurers licensed in Ontario, will only need to be submitted to the Office of the Superintendent of Financial Institutions, Ottawa.
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | x required | n/a | n/a | x required | x Ontario table footnote * | n/a | n/a |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's to the CEO | February 28 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
Appointed Actuary's Report (AAR) | February 28 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
AAR - Financial Condition Testing | September 30 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
AAR – External Review Report | February 28 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
LICAT Annual - Canadian | February 28 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual – Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | February 28 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
Auditor's Report on LIMAT - Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | February 28 | n/a | n/a | n/a | n/a | x Ontario table footnote * | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Ontario table footnotes
|
Manitoba
Other specific instructions necessary to meet Manitoba's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to MB's website.
Language
Filings in either official language are acceptable.
Signature requirements
N/A
Statutory filings by federally registered insurers
Statutory filings made by federally registered insurers, as required by Section 84 of the Act, will only need to be submitted to the Office of the Superintendent of Financial Institutions, Ottawa.
Federally registered life insurers are only required to file page 95.010 from their LIFE returns (inclusive).
Actuary's Report
Insurers are not required to file their Actuary's Report with the condition that a copy be available at any time upon request.
Statutory filings by Quebec incorporated life insurers
Quebec-registered life insurers are required to file one hard copy of their LIFE returns and Capital Adequacy Return (CARLI).
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIFE Annual Reinsurers - Canadian only (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 31 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIFE Quarterly - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR - Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual - Canadian | Feb 28/ Mar 31 Manitoba table footnote* |
n/a | n/a | n/a | n/a | n/a | x required | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual – Foreign | Feb 28/ Mar 31 Manitoba table footnote* |
n/a | n/a | n/a | n/a | n/a | x required | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT - Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Manitoba table footnotes
|
Saskatchewan
Other specific instructions enabling insurers to meet the Saskatchewan's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year-end.
Refer to the Financial and Consumer Affairs Authority's website for instructions for filing the Annual Return.
Legislation
Refer to SK's website.
Language
Contact the Regulator for direction.
Signature requirements
For provincial insurers, the Annual Return must be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
Federally registered insurers satisfy the annual filing requirement by answering the questions contained in the submission filed online through RLS.
Filing deadlines
All annual filings must be provided as follows:
- If limited by the Superintendent to reinsurance only, 105 days after the financial year-end (subsections 2-33(3) and 2-34(3)); and
- For all other insurers 60 days after the financial year end (subsections 2-33(3) and 2-34(3)).
Filing requirements
All insurers are required to file their Annual Return submission online through the Financial and Consumer Affairs Authority's (FCAA) Registration and Licensing System (RLS).
Refer to FCAA's website for instructions for filing the Annual Return.
Links:
Provincially incorporated insurers
Saskatchewan incorporated insurers are required to:
- File the Life Core Financial Statement Return, the Life Supervisory Quarterly Return and the Life Supervisory Annual Return (section 2-33); and
- Submit the following additional information:
- The Actuary's Report if required by the Superintendent;
- The audited financial statements with auditor's opinion;
- The audited financial statements for any subsidiaries with auditor's opinion. If subsidiaries are regulated financial institutions, the filings with the primary regulators; and
- The detailed list of investments as at the fiscal year-end.
Extra-provincial insurers
Extra-provincial insurers are required to file pages 10.000, 10.005 (Quebec Licensed Insurer), 10.010, and 95.010 of the Life Returns.
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | within 60 days | x required | n/a | n/a | x required | n/a | 1 | PDF copy of the signed affidavit should be embedded in the special Excel file. |
LIFE Annual Reinsurers - Canadian only (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | within 105 days | x required | n/a | n/a | x required | n/a | 1 | PDF copy of the signed affidavit should be embedded in the special Excel file. |
LIFE Quarterly Filing (Core Financial, Supervisory and Provincial returns) | within 45 days | n/a | n/a | n/a | x required | n/a | 1 | PDF copy of the signed affidavit should be embedded in the special Excel file. |
LIFE Quarterly Reinsurers - Canadian only (Core Financial, Supervisory and Provincial returns) | within 45 days | n/a | n/a | n/a | x required | n/a | 1 | PDF copy of the signed affidavit should be embedded in the special Excel file. |
Auditor's Report to the Superintendent | within 60 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
Appointed Actuary's Report (AAR) | within 60 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
AAR - Financial Condition Testing | see comment | n/a | n/a | n/a | n/a | x required | n/a | Sooner of Dec. 31 or 30 days after Board presentation. PDF format preferred. |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual | within 60 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
LICAT Quarterly | within 45 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
Auditor's Report on LICAT - Canadian only | within 60 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
Auditor's Report on LICAT - Canadian Reinsurers only | within 60 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
Audited Financial Statements | within 60 days | n/a | n/a | n/a | n/a | x required | 1 | PDF format preferred. |
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | within 60 days | n/a | n/a | n/a | n/a | x required | n/a |
Extra-provincial insurers/fraternal societies are only required to provide pages: 10.000, 10.005, 10.010 and 95.010 of the Life Returns. PDF format preferred. Federally registered insurers/fraternal societies satisfy the annual filing requirement by answering the questions contained in the submission filed online through RLS. |
LIFE Annual Reinsurers - Canadian only (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | within 105 days | n/a | n/a | n/a | n/a | x required | n/a |
Extra-provincial insurers/fraternal societies are only required to provide pages: 10.000, 10.005, 10.010 and 95.010 of the Life Returns. PDF format preferred. Federally registered insurers/fraternal societies satisfy the annual filing requirement by answering the questions contained in the submission filed online through RLS. |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | within 60 days | n/a | n/a | n/a | n/a | x required | n/a |
Federally registered insurers/fraternal societies satisfy the annual filing requirement by answering the questions contained in the submission filed online through RLS. |
LIFE Annual Reinsurers - Foreign only (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | within 105 days | n/a | n/a | n/a | n/a | x required | n/a |
Federally registered insurers/fraternal societies satisfy the annual filing requirement by answering the questions contained in the submission filed online through RLS. |
LIFE Quarterly Filing – Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Reinsurers - Canadian only (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR - Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual – Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT - Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Alberta
Legislation
Refer to AB's website.
Language
Annual Returns must be submitted in English.
Signature requirements
Alberta incorporated insurers must comply with Section 44(3)(f) of the Insurance Act, which states the Annual return (Canadian Affidavit Verifying Annual Return - (Page 10.000) or Foreign Affidavits Verifying Annual Return - (Pages 10.002/10.004) shall be approved and signed by the president, vice-president or managing director or other director appointed for the purpose by the board of directors and by the secretary or manager of the company.
Statutory filings by federally registered insurers
Federally registered insurers are only required to file a fourth-quarter LIFE Returns with the Office of the Superintendent of Financial Institutions, Ottawa. This will satisfy this reporting requirement for the comparable period.
Actuary's Report
Pursuant to Section 44(3)(d) of the Insurance Act, Alberta incorporated insurers licensed under this Act must submit, with the Annual Return, an opinion, in accordance with Section 405.
The Insurance Act requires that two reports be submitted with the Annual Return, one in respect of premium reserves and one in respect of claim reserves. If the same person is signing both reports, there is no reason why the two reports cannot be combined into one document.
The Actuary's Report is required to include an Unpaid Claims and Loss Ratio Analysis Exhibit, consistent with the OSFI requirements.
Federally and extra-provincially incorporated insurers are not required to file their Actuary's Report.
Auditor's Report
Pursuant to Section 43(1) of the Insurance Act, all insurers licensed in Alberta must submit a copy of their audited financial statements within 180 days of the insurer's year end.
Alberta requires the following reports be filed with the Annual filings:
- Auditor Report addressed to the Alberta Superintendent of Insurance; and,
- Auditor Report for the Life Capital Adequacy Test.
Annual Report
All Alberta incorporated insurers, are expected to file a copy of their Annual Report including the Auditor's Report to the shareholders and members when published.
Financial statements of subsidiaries
A copy of the current financial statements of each subsidiary must be made available on request.
Filing requirements
Visit the Insurance Regulatory Information System's website.
For Insurance Companies, Fraternal Benefit Societies or Reciprocal Insurance Exchanges, if you require assistance, please send an email to: tbf.insurance-licens@gov.ab.ca.
Refer to the Alberta Superintendent of Insurance's website for:
- Filing requirements of insurance entities supervised by the Superintendent of Insurance of Alberta, March 2021 (PDF)
- Filing requirements of insurance entities supervised by other regulators, March 2021 (PDF)
- Alberta-incorporated insurers are required to file a fourth-quarter LIFE Returns in both an ASCII and special excel file formats;
- All extra provincially incorporated insurers are required to file a fourth-quarter LIFE Returns in an ASCII file format;
Pursuant of section 44(2), for Alberta-incorporated insurers, all filings must be received within 60 days after the the company's fiscal year end.
Pursuant of section 46(1), for every non-Alberta-incorporated insurers that is licensed in Alberta, all filing requirements must be received before the last day of February of the year following the reporting year.
Alberta only accepts electronic filings.
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
Life Fourth-quarter Core Financial Return | within 60 days | x required | n/a | x required | x required | n/a | n/a | A PDF copy of the signed affidavit should be embedded in Special Excel file. |
LIFE Fourth-quarter Quarterly and Annual Supervisory returns | within 60 days | x required | n/a | x required | x required | n/a | n/a | A PDF copy of the signed affidavit should be embedded in Special Excel file. |
LIFE Fourth-quarter Provincial return | Within 60 days | x required | n/a | x required | x required | n/a | n/a | A PDF copy of the signed affidavit should be embedded in Special Excel file. |
LIFE Quarterly Core Financial return | Within 45 days | x required | n/a | x required | x required | n/a | n/a | A PDF copy of the signed affidavit should be embedded in Special Excel file. |
LIFE Quarterly Supervisory Filing | within 45 days | x required | n/a | x required | x required | n/a | n/a | n/a |
Auditor's Report to the Superintendent | within 60 days | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
Appointed Actuary's Report (AAR) | within 60 days | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
AAR – Financial Condition Testing | See comment | n/a | n/a | n/a | n/a | x required | n/a | Sooner of Dec 31 or 30 days after Board presentation. PDF Format Preferred. |
AAR – Peer Review Report | within 60 days | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
LICAT Annual | within 60 days | x required | n/a | x required | n/a | n/a | n/a | Signed pages should be embedded in Special Excel file. |
LICAT Quarterly | within 45 days | x required | n/a | x required | n/a | n/a | n/a | Signed pages should be embedded in Special Excel file. |
Auditor's Report on LICAT - Canadian only | within 60 days | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
Auditor's Report on LICAT - Canadian Reinsurers only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | within 60 days | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Fourth-quarter LIFE Core Financial, Supervisory Quarterly and Annual Supplement and Provincial returns | within 60 days | n/a | n/a | x required | x required | x required | n/a | Extra provincial companies are only required to provide page 95.010 and federally authorized companies filing with OSFI will satisfy the Alberta reporting requirement for the comparable period. |
LIFE Annual Reinsurers - Fourth-quarter LIFE Core Financial, Supervisory Quarterly and Annual Supplement and Provincial returns | within 105 days | n/a | n/a | n/a | x required | x required | n/a | Extra provincial companies are only required to provide page 95.010 and federally authorized companies filing with OSFI will satisfy the Alberta reporting requirement for the comparable period. |
LIFE Quarterly Filing – Core Financial, Supervisory and Provincial returns | n/a | n/a | n/a | n/a | n/a | n/a | n/a | Only Alberta incorporated life insurers are required to file the LIFE Quarterly Return Filings. |
LIFE Quarterly Reinsurers – Core Financial, Supervisory and Provincial returns | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | within 180 days | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR - Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Peer Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT/LIMAT Annual | within 60 days | n/a | n/a | n/a | n/a | n/a | n/a | Federally authorized companies filing with OSFI will satisfy the Alberta reporting requirement for the comparable period. |
LICAT/LIMAT Quarterly | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT/LIMAT | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT/LIMAT – Reinsurers only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
British Columbia
Other specific instructions necessary to meet BC Financial Services Authority’s requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to BCFSA's website.
Language
Annual filings must be submitted in English.
Signature requirements
Original signatures are not required. BCFSA will accept scanned or electronic versions of original signatures.
Statutory filings by federally registered insurers
Refer to BCFSA’s website.
Filing requirements
For B.C. Licensed Life Insurers’ Filing requirements, please refer to BCFSA’s website.
For reciprocal exchanges the Application for Reciprocal Exchange Annual Permit (Form 10) must be submitted annually by March 31.
Yukon
Other specific instructions necessary to meet the Yukon's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to YK's website.
Language
Contact the Regulator for direction.
Signature requirements
The Annual Return shall be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors, and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
N/A
Actuary's Report
Insurers are not required to file their Actuary Report with the condition that a copy be available at any time upon request.
Electronic filing
All required filings should be filed in PDF, or Excel format, as appropriate, by e-mail to insurance.plra@gov.yk.ca. The e-mail subject line should include the company name and the word "filing."
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 15 | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | March 15 | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
LIFE Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual - Canadian | March 15 | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual - Foreign | March 15 | n/a | n/a | n/a | n/a | x required | n/a | PDF Format Preferred. |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Northwest Territories
Other specific instructions necessary to meet the Northwest Territories' requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to NT's website.
Language
Contact the Regulator for direction.
Signature requirements
The Annual Return shall be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors, and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
N/A
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | PDFNorthwest Territories table footnote * | n/a | Electronic filings only. |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | PDFNorthwest Territories table footnote * | n/a | Electronic filings only. |
LIFE Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual - Canadian | February 28 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual - Foreign | February 28 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT - Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | February 28 | n/a | n/a | n/a | n/a | PDFNorthwest Territories table footnote * | n/a | Not required if OSFI return filed. |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Northwest Territories table footnotes
|
Nunavut
Other specific instructions necessary to meet Nunavut's requirements may be circulated by the Superintendent, to the appropriate insurers, prior to year end.
Legislation
Refer to NU's website.
Language
Contact the Regulator for direction.
Signature requirements
The Annual Return must be verified by the president, vice-president or managing director, or other director appointed for the purpose by the board of directors, and by the secretary or manager of the insurer.
Statutory filings by federally registered insurers
N/A
Statutory filings by Quebec incorporated life insurers
Quebec-registered life insurers are required to file one hard copy of their LIFE returns.
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | |||
---|---|---|---|---|---|---|---|---|
ASCII File | Text ".txt" file | Transmittal form | Special Excel file | |||||
LIFE Annual Filing – Canadian (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | PDFNunavut table footnote * | x required | n/a |
LIFE Annual Filing – Foreign (Core Financial, Supervisory Quarterly, Supervisory Annual Supplement and Provincial returns) | February 28 | n/a | n/a | n/a | n/a | PDFNunavut table footnote * | x required | n/a |
LIFE Quarterly Filing - Canadian (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIFE Quarterly Filing – Foreign (Core Financial, Supervisory and Provincial returns) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report to the Superintendent | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Appointed Actuary's Report (AAR) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – Financial Condition Testing | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
AAR – External Review Report | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LICAT Annual - Canadian | February 28 | n/a | n/a | n/a | n/a | PDFNunavut table footnote * | x required | n/a |
LICAT Quarterly - Canadian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
LIMAT Annual - Foreign | February 28 | n/a | n/a | n/a | n/a | PDFNunavut table footnote * | x required | n/a |
LIMAT Quarterly - Foreign | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LICAT - Canadian only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Auditor's Report on LIMAT – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Audited Financial Statements | February 28 | n/a | n/a | n/a | n/a | PDFNunavut table footnote * | x required | n/a |
Worldwide Financial Statements – Foreign only | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Nunavut table footnotes
|
Federal
Insurance Companies Act (ICA)
Regulations that are applicable to federally regulated life insurance companies can be accessed on Justice Canada's website.
Guidelines and other guidance
Guidelines that are applicable to life insurance companies are available on the OSFI website.
OSFI also issues other guidance (ie. letters, bulletins) that is accessible its website.
Actuary's Report
Refer to Section II for further details.
Auditor's Report to shareholders/policyholders
The Auditor's Report to shareholders/policyholders, together with the annual financial statements, is to be filed with OSFI's Regulatory Information Division no later than 21 days prior to the Annual Meeting. If the Annual Meeting is held by Resolution in Writing, then no later than 30 days following the date of signing of the Resolution in Writing.
Also refer to Section II for further details.
Financial statements of subsidiaries
Federally regulated insurers are required to keep a copy of the current financial statements of each subsidiary at the insurer's head office, to be available on request.
Canadian Affidavit verifying Annual Return - (Page 10.000)
The Affidavit must be signed by the President/Chief Executive Officer and another executive officer or another director.
Foreign Affidavits verifying Annual Return - (Pages 10.002/10.004)
It is difficult for OSFI to ensure that the Chief Agent is kept fully apprised of the Canadian Branch's operations and liabilities in Canada. In this regard, the second affidavit set up on page 10.004 must be signed by the President or Chief Executive Officer of the life insurer/society at its head office.
Where an affidavit makes reference to the company's insurance business in Canada, the word "business" refers to an activity carried on in Canada and is not limited to risks located in Canada. For a discussion of which risks are considered insured in Canada, and therefore form part of the company's insurance business in Canada, please consult Advisory 2007-01-R1, Insurance in Canada of risks, available on OSFI's website.
Electronic filing
For electronic filing instructions, please refer to the "Regulatory Reporting System (RRS) Manage Financial Returns User Guide (PDF,
1.87 MB) for Insurance Companies" located on the OSFI website.
Filing requirements
LIFE returns | Due dates | PwC | Other electronic file | Hard copy | Other comments | ||
---|---|---|---|---|---|---|---|
XML file | Transmittal form | Special Excel file | |||||
LIFE Annual – Canadian / Foreign (Core Financial (LF1), Supervisory Quarterly (LF2), Supervisory Annual Supplement (LF3) and special excel file (OSFI972)) | within 60 days | x required | n/a | x required | n/a | n/a | n/a |
LIFE Quarterly - Canadian / Foreign (Core Financial (LF1), Supervisory Quarterly (LF2) and special excel file (OSFI972)) | within 45 days | x required | n/a | x required | n/a | n/a | n/a |
LIFE Supplemental Quarterly “Metric” Return (LF4) | within 45 days | n/a | n/a | n/a | x required | n/a | n/a |
Auditor's Report to the Superintendent (OSFI625) – Canadian only | within 60 days | n/a | n/a | n/a | x required | n/a | n/a |
Auditor's Report to the Superintendent (OSFI625) – Canadian Reinsurers | within 90 days | n/a | n/a | n/a | x required | n/a | n/a |
Auditor's Report to the Superintendent (OSFI625) – Foreign only | May 31 | n/a | n/a | n/a | x required | n/a | n/a |
Appointed Actuary's Report (AAR) (OSFI605 & 600) |
within 60 days | n/a | n/a | n/a | x required | n/a | n/a |
Financial Condition Testing (FCT) (OSFI610) | within 30 days | n/a | n/a | n/a | x required | n/a | n/a |
External Review Report – ARR (OSFI615) | Various | n/a | n/a | n/a | x required | n/a | Due - 30 days after transmission to the Audit Committee or to the Chief Agent, as required |
External Review Report – FCT (OSFI608) | December 31 | n/a | n/a | n/a | x required | n/a | n/a |
External Review Report – CAR (OSFI609) | Various | n/a | n/a | n/a | x required | n/a | n/a |
External Review Report – Other (OSFI607) | Various | n/a | n/a | n/a | x required | n/a | n/a |
LICAT Annual (Quarterly (LCQ), Annual Supplement (LCA) and special excel file (OSFI911) - Canadian | within 60 days | x required | n/a | x required | n/a | n/a | n/a |
LIMAT Annual (Quarterly (LCQ), Annual Supplement (LCA) and special excel file (OSFI911) - Foreign | within 60 days | x required | n/a | x required | n/a | n/a | n/a |
LICAT Quarterly (LCQ) and special excel file (OSFI911) - Canadian | within 45 days | x required | n/a | x required | n/a | n/a | n/a |
LIMAT Quarterly (LCQ) and special excel file (OSFI911) - Foreign | within 45 days | x required | n/a | x required | n/a | n/a | n/a |
Auditor's Report on LICAT (OSFI630) - Canadian only | within 90 days | n/a | n/a | n/a | x required | n/a | n/a |
Auditor's Report on LIMAT (OSFI635) - Foreign only |
May 31 | n/a | n/a | n/a | x required | n/a | n/a |
Annual Financial Statement to Shareholders (OSFI597) | See comment | n/a | n/a | n/a | x required | 1 | Due -15 days prior to the Annual Meeting date. If AGM is held by Resolution in Writing then due +30 days from Resolution date. If electronic file is not available, one hard copy is required. For foreign insurers, no copy is required. |
ORSA Key Metrics Report (OL) | Various | x required | n/a | x required | n/a | n/a | Due within 30 days after the Board of Director's review or the Chief Agent's sign off. |
Solo Capital Quarterly Return (OSFI969) | within 45 days | x required | n/a | n/a | n/a | n/a | Only Life insurers designated by OSFI as Internationally Active Insurance Groups (IAIGs) with a December fiscal year-end are required to submit this return |
Worldwide Financial Statements (OSFI645) – Foreign only | Various | n/a | n/a | n/a | x required | n/a | n/a |