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2022-10-01

Notice Relating to Filing Annual Returns and Documents for Québec Damage Insurers – Fiscal Year Ending October 31, 2022

The Autorité des marchés financiers requires authorized Québec damage insurers to electronically file specific annual returns, financial statements, and auditor or actuary reports for the fiscal year ending October 31, 2022. Submissions must be made through AMF E-Services within designated deadlines, typically ranging from 60 to 90 days after the fiscal year end. Failure to submit complete and timely documents may result in monetary administrative penalties under the Insurers Act.

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[Translation] Notice relating to the filing of the annual return and other documents for the fiscal year ending October 31, 2022 – Damage (« P&C ») insurers authorized to carry on activities in Québec Under the Insurers Act, CQLR, c. 32.1 (the «Act»), every authorized insurer must prepare and send the Autorité des marchés financiers (the «AMF»), according to the form, content and date the AMF determines, the documents and information provided under the Act or requested by the AMF (the «required documents and information»). All required documents and information must be filed electronically via AMF E-Services. See the Appendices attached to this Notice detailing specific requirements for the documents to be filed for the fiscal year ending October 31, 2022. A complete set of the signed documents must be kept at the insurer’s premises so that they are available for examination by the AMF, if necessary. Monetary administrative penalties We remind you that each insurer is responsible for ensuring that the AMF receives, on the dates it determines, all required documents and information. Pursuant to sections 491 and following of the Act, monetary administrative penalties may be imposed if an authorized insurer fails to send the required documents and information to the AMF or if they are incomplete or filed late or if it refuses to communicate or provide access to the documents. Electronic submission of financial returns and other documents The E-Services Disclosure Guide (Insurers) explains the procedure for submitting files via AMF E-Services and provides instructions for, among other things, naming files. The guide is available on the AMF website at: https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/ Please note that the E-Services Disclosure Guide (Insurers) does not list all the required documents and information or the dates by which they are to be filed. Further information : For further information, send an e-mail to Info-Divulgations@lautorite.qc.ca. October 27, 2022

DAMAGE INSURERS AND REINSURERS AUTHORIZED TO CARRY ON ACTIVITIES IN QUÉBEC DOCUMENTS REQUIRED FOR FISCAL YEAR ENDING OCTOBER 31, 2022 APPENDIX 1 Return Code File Format Deadline Number of days following the fiscal year end / Due date

  1. P&C Annual Return.
  • Excel 60 days
  1. P&C Annual Return, duly signed.
  • Annual corporate information (pages 10.10 to 10.17)
  • Corporate organization chart (page 10.30)
  • Statement of cash flows (page 20.52)
  • Notes to the audited financial statements (page 20.60)
  • Duly signed independent auditor's report to AMF covering pages 20.10 through 20.60 (page 20.70)
  • Duly signed appointed actuary's Certificate (page 20.80)
  • Duly signed Certification by President/Chief Executive Officer (page 99.10)
  • Duly signed Affidavit verifying Annual Supplement Return (page 99.20)
  1. Independent auditor's report on the Minimum Capital Test (MCT), duly signed.**
  • PDF 90 days
  1. Attestation of Compliance of Versions - Annual Return, duly signed. https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/ (Forms and instructions)
  2. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.60 of the annual return. These confirmations must include the following or similar wording: « We confirm that we are holding deposits on behalf of (name of insurer) in the amount of $______ for the account of (name of reinsurer) as at October 31, 2022. » (if applicable) 180 PDF 60 days
  3. Business Plan for the year 2023, including a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test. (MCT) 190 PDF 60 days
  4. Audited financial statements presented to shareholders or members, duly signed. (« Official » version) 200 Searchable PDF file 60 days
  5. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 PDF
  6. Non-consolidated financial statement of the insurer, subsidiaries, associates and joint ventures in which the insurer has an ownership interest. (if applicable) 300 PDF 60 days
  7. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable PDF file 60 days
  8. Data from the Unpaid Claims and Loss Ratio Exhibits. https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/
  9. Peer review - Appointed actuary's report. (if applicable) 440 PDF Note 1
  10. Financial Condition Testing report - FCT, duly signed. (The updated instructions will be available on the AMF website.) https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/
  11. Excel File - Financial Condition Testing report. (The Excel file will be available on the AMF website.) https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/
  12. Peer review - FCT. (if applicable) 520 PDF Note 1
  13. Reinsurance coverage notes relating to all reinsurance treaties or arrangements effective in 2023. (if applicable) 590 PDF 60 days
  14. Earthquake Exposure Data Form. (All insurers are required to complete the AMF file, whether or not they have earthquake exposure.) (The file is available on the AMF website.) https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/
  15. Ethics committee report, duly signed. 760 PDF 60 days **The MCT ratio should be audited annually by the auditor charged with the functions provided for in Chapter VII of Title II of the Insurers Act , CQLR, c. A-32.1. The audit report on the MCT ratio should be separate from the auditor’s report accompanying the P&C annual return filed with the AMF. The audit should be conducted in accordance with the standards for audit engagements established by the Canadian Auditing and Assurance Standards Board. The auditor’s opinion should address compliance with the MCT guideline as at the time the MCT ratio presented on page 30.61 of the P&C - 1Q quarterly return is determined. QUÉBEC CHARTER 500 Searchable PDF file October 31, 2023 Note 1 : 30 days after transmission to the Audit Committee. 510 Excel October 31, 2023 740 Excel May 31, 2023 110 PDF 60 days
  • Excel 60 days Business Corporation, Mutual company member of a federation and Mutual company
  • PDF 60 days

DAMAGE INSURERS AND REINSURERS AUTHORIZED TO CARRY ON ACTIVITIES IN QUÉBEC DOCUMENTS REQUIRED FOR FISCAL YEAR ENDING OCTOBER 31, 2022 APPENDIX 2 Return Code File Format Deadline Number of days following the fiscal year end / Due date

  1. P&C Annual Return.
  • Excel 60 days
  1. P&C Annual Return, duly signed.
  • Annual corporate information (pages 10.10 to 10.17)
  • Corporate organization chart (page 10.30)
  • Statement of cash flows (page 20.52)
  • Notes to the audited financial statements (page 20.60)
  • Duly signed independent auditor’s report to primary regulator covering pages 20.10 through 20.60 (page 20.70)
  • Duly signed Appointed Actuary's Certificate (page 20.80)
  • Duly signed Certification by President/Chief Executive Officer (page 99.10)
  • Duly signed Affidavit verifying Annual Return (page 99.20)
  1. Independent auditor's report on the Minimum Capital Test (MCT), duly signed.
  • PDF 90 days
  1. Attestation of Compliance of Versions- Annual Return, duly signed. https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/ (Forms and instructions)
  2. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.60 of the annual return. These confirmations must include the following or similar wording: « We confirm that we are holding deposits on behalf of (name of insurer) in the amount of $____ for the account of (name of reinsurer) as at October 31, 2022. » (if applicable). 180 PDF 60 days
  3. Business Plan for the year 2023, including a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test (MCT). 190 PDF 60 days
  4. Audited financial statements presented to shareholders or members, duly signed. (« Official » version). 200 Searchable PDF file 60 days
  5. Annual report prepared for shareholders or members, as soon as possible. (if applicable) 200 PDF
  6. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable PDF file 60 days
  7. Data from the Unpaid Claims and Loss Ratio Exhibits. https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/
  8. Peer review - Appointed actuary's report. 440 PDF Note 1
  9. Financial Condition Testing report - FCT, duly signed. 500 Searchable PDF file October 31, 2023
  10. Excel File - Financial Condition Testing report. (The Excel file that must be used will be available on the AMF website.) https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/
  11. Peer review - FCT. 520 PDF Note 1
  12. Earthquake Exposure Data Form. (All insurers are required to complete the AMF file, whether or not they have earthquake exposure.) (The file is available on the AMF website.) https://lautorite.qc.ca/en/professionals/insurers/disclosures/pc-insurance/ Note 1 : 30 days after transmission to the Audit Committee. Business Corporation and Mutual company
  • PDF 110 PDF
  • Excel 740 Excel CANADIAN CHARTER EXTRA-PROVINCIAL CHARTER May 31, 2023 510 Excel October 31, 2023 60 days 60 days 60 days
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