Regulatory Alerts2015-01-20
Notice on Filing Annual Returns and Documents for Insurers Licensed in Quebec – Fiscal Year Ending December 31, 2014
The Autorité des marchés financiers mandates that Quebec-licensed insurers, reinsurers, and foreign life companies electronically file annual returns and supporting documents via the File Transfer Service for the fiscal year ending December 31, 2014. The notice details updated filing forms, including a revised LIFE Annual Return requiring a two-director sworn affidavit and specific actuary reports on policy liabilities and capital adequacy. Insurers must retain signed paper copies at their premises and face administrative monetary sanctions under section 405.1 of the Act for late or non-compliant submissions.
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