“2021 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: November 5, 2021
  • 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:
    • Andrew Miller
      Chief Data Officer

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

Minor changes were made to Section I (Introduction) and Section V (Jurisdictional Requirements) of the Life instructions effective for 2021. Note that no changes were made to the Life Annual Supplement (10A) or Quarterly Return (10Q) for Q4 2021 or Q1 2022.

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

A minor change was made to the LICAT Annual Supplement (LCA) for Q4 2021. No changes were made to the LICAT Filing Instructions or LICAT Quarterly Return (LCQ) for Q4 2021 or Q1 2022.

Validation Rules

Any updates to the validation rule reports will be posted on OSFI’s Web site once they are made available within the RRS system.

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 or email at RA‑RRS.Support@osfi‑bsif.gc.ca.

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 Fraternal Benefit Societies