"2019 Annual Update" to the Manual of Financial Reporting Forms and Instructions for Life Insurance Companies and Fraternal Benefit Societies

Document Properties

  • Type of Publication: Letter
  • Our File: P1650-7
  • Date: June 24, 2019
  • To:
    • Chief Executive Officers and Chief Agents,
    • Federally Regulated Canadian Life Insurance Companies and Fraternal Benefit Societies and branches of Foreign Life Insurance Companies and Fraternal Benefit Societies
  • From:
    • Ima Okonny
      Director, Regulatory Data Management

This is to advise you of the changes that were made to the Canadian Council of Insurance Regulators (CCIR) regulatory forms and instructions.

LIFE – Annual Supplement/Quarterly Returns and Instructions

Changes were made to Section VI (Detailed Instructions) of the Life instructions and to the Life Annual Supplement (10A) effective Q4 2019. Note that no changes were made to the Life Quarterly Return (10Q) for Q4 2019 or Q1 2020.

The changes can be viewed on OSFI's Web site at www.osfi-bsif.gc.ca under Regulatory Data and Returns > Filing Financial Returns > Canadian & Foreign Life Insurance Companies / Fraternal Benefit Societies. A detailed summary of all changes can be found under Section VII of the instructions.

LICAT Forms LCQ / LCA

Changes were made to the LICAT Filing Instructions, the LICAT Annual Supplement (LCA) effective Q4 2019 and to the LICAT Quarterly Return (LCQ) effective Q1 2020.

The LCQ and LCA return templates can be viewed on OSFI's Web site at www.osfi-bsif.gc.ca under Regulatory Data and Returns > Filing Financial Returns > Canadian & Foreign Life Insurance Companies / Fraternal Benefit Societies >LICAT General Filing Instructions and Forms. A detailed summary of all changes can be found under the LICAT Change Control Log.

Validation Rules

All validation rule reports for the returns listed above will be posted on OSFI's Web site sometime in September.

Additional Information / Questions

If you need additional information, please contact your company's Lead Supervisor at OSFI. If you have any questions about completing or filing the financial returns, please call Returns Administration at (613) 991-0609.

cc:

  • Provincial and Territorial Superintendents of Insurance
  • Canadian Life and Health Insurance Association
  • Canadian Fraternal Association
  • Auditors of federally regulated Canadian and Foreign Life Insurance Companies and