"2021 Annual Update" to the Manual of Financial Reporting Forms and Instructions for Property and Casualty Insurance Companies
Information
Table of contents
To: Chief Executive Officers and Chief Agents, Federally Regulated Canadian and branches of Foreign Property and Casualty Insurance Companies
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.
Minor changes were made to the UCLRE Annual Return effective Q4 2021. The changes to the Business and Data Definitions document can be viewed on OSFI’s website.
The changes can be viewed on OSFI’s website. A detailed summary of all changes can be found under Section VIII of the instructions.
Business Plan for the year 2022
Please file a copy of your annual Business Plan (OSFI-640) via the Regulatory Reporting System (RRS) no later than 60 days after your fiscal year end. The Business Plan should include a forecast of the Balance Sheet and the Minimum Capital Test / Branch Adequacy of Assets Test as at year-end 2022, as well as the Income Statement for the year 2022. Please include any related narrative you believe would help us to better understand your plans for the year 2022.
Unpaid Claims and Loss Ratio Exhibit (UCLRE)
Minor changes were made to the UCLRE Annual Return effective Q4 2021. The changes to the Business and Data Definitions document can be viewed on OSFI’s website.
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
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
Auditors of federally regulated Canadian and Foreign P&C Insurance Companies
Insurance Bureau of Canada