2026 Annual Update to the Manual of Financial Reporting Forms and Instructions for Property and Casualty Insurance Companies

• 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 letter informs you of changes made to the Canadian Council of Insurance Regulators (CCIR) regulatory forms and instructions as well as OSFI forms and instructions for 2026-27.

P&C – Annual/Quarterly Returns and Instructions

There are no changes to the P&C Core Financial Quarterly Return (PC1), P&C Supervisory Quarterly Return (PC2), P&C Supervisory Annual Return (PC3), and the P&C Provincial Return (PCPROV) for Q4 2026.

With the implementation of IFRS 18 effective Q1 2027, the existing PC1, PC2, PC3, and PCPROV returns require changes. Updated returns, instructions, and supporting documentation can be viewed on OSFI’s website under the Property and Casualty (P&C) Insurance Return (2027) page. A summary of the changes can be found under Section VI of the instructions.

Existing returns, instructions, and supporting documentation can be viewed on OSFI’s Web site under the Property and Casualty (P&C) Insurance Return (2026) page.

As a reminder, insurers with a December fiscal year end will begin filing the return versions updated for IFRS 18 compliance effective Q1 2027. Insurers with October fiscal year ends will continue to file the existing P&C returns for 2026-27 fiscal year and will begin filing the updated return versions for their Q1 2027-28 filing period.

Minimum Capital Test/Branch Adequacy of Assets Test (PC4) Quarterly Return

No changes were made to the PC4 quarterly return and filing instructions for Q4 2026 and Q1 2027.

Reminder that insurers with an October fiscal year end will begin filing the 2026 PC4 return version for their Q1 2026-27 filing period.

Current return templates, instructions, and other related documents can be viewed on OSFI’s website under P&C Minimum Capital Test and Branch Adequacy of Assets Test (PC4) Return and Instructions.

Validation Rules

Any updates to the validation rule reports will be posted on OSFI’s website 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 RRSsupport-SDRsoutien@osfi-bsif.gc.ca.