Office of the Superintendent of Financial Institutions
This is to advise you of the changes that were made to the Canadian Council of Insurance Regulators (CCIR) regulatory forms and instructions.
With the implementation of IFRS 17 effective Q1 2023, the existing Life Quarterly (10Q) and Annual Supplement (10A) returns will be decommissioned once the October filers have fully implemented the new standard on November 1, 2023.
New IFRS 17 return versions were created, in consultation with the industry and its’ associations, and were posted back in April 2021.
As a reminder, as per the
May 2018 communication related to the transition to IFRS 17, insurers with a December fiscal year end will begin filing the new IFRS 17 return versions effective Q1 2023 and the insurers with an October fiscal year end filing will continue to file using the existing Life returns in 2023 and will only begin filing the IFRS 17 return versions effective with their Q1 2024 filing period.
The new and existing returns can be viewed on OSFI’s Web site at
www.osfi-bsif.gc.ca under Regulatory Data and Returns > Filing Financial Returns > (Insurance Companies > 2023 IFRS 17 Insurance Returns) or (Canadian & Foreign Life Insurance Companies / Fraternal Benefit Societies). A summary of the changes can be found under
Section VI of the instructions.
As a result of the implementation of IFRS 17, significant changes have been made to the LICAT
Quarterly Return (LCQ) for Q1 2023, the LICAT
Annual Supplement (LCA) for Q4 2023 and their related
Any updates to the validation rule reports will be posted on OSFI’s Web site once they are made available within the RRS system.
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