LogoRegulatory Alerts
2016-12-13

Notice of the Autorité des marchés financiers on Filing Annual Returns for Quebec P&C Insurers 2016

The Autorité des marchés financiers requires Quebec-licensed property and casualty insurers to electronically file designated annual returns, financial statements, and actuarial reports for the fiscal year ending December 31, 2016. Submissions must utilize the File Transfer Service, adhere to specified file formats and deadlines ranging from February 28 to May 31, 2017, and be accompanied by complete paper copies retained at the insurer’s premises. Non-compliance or late filing triggers administrative monetary sanctions under section 405.1 of the Act respecting insurance.

Autorite des marches financiers Quebec logo

Canada

Autorite des marches financiers Quebec

Click to view thumbnail

Notice of the Authority relating to filing of annual returns and other documents for the fiscal year ending December 31, 2016 – Damage (“P&C”) insurers licensed in Quebec Under An Act respecting insurance, CQLR, c. A-32, (the “Act”), every insurer is required to file with the Autorité des marchés financiers (the “AMF” or the "Authority"), in such form as the AMF may determine and within the prescribed time period, the documents and information required under the Act or requested by the AMF pursuant to specific provisions of the Act (the “required or requested documents and information”). All required or requested documents and information must be filed electronically via the AMF website using the File Transfer Service (“FTS”). See the Appendices attached to this Notice concerning specific AMF requirements for the filing of documents for the fiscal year ending December 31, 2016. A complete set of « paper » copies of the signed documents must be kept at the insurer’s premises so that they are available for examination by the AMF, if necessary. Administrative monetary sanctions We remind you that each insurer is responsible for ensuring that the AMF receives, within the prescribed time periods, all required or requested documents and information in all forms as required. Under section 405.1 of the Act, the AMF may impose an administrative sanction where any of the documents referred to in the Appendix are filed late or are not filed. The Notice of the Autorité des marchés financiers related to administrative monetary sanctions imposed for late filing of information or documents (sections 405.1 and following of the Act) (the “sanctions framework”) is posted on the AMF website at: http://www.lautorite.qc.ca/en/right-practice-pro.html. Electronic submission of financial returns and other documents The File Transfer Service (FTS) User Guide explains the procedure for submitting data via the AMF website. To consult this guide, access the FTS and click on Help. The Guide – Specific File Transfer Service (FTS) Requirements (the “guide of specific requirements”) contains instructions from the Direction principale de la surveillance des assureurs et du contrôle du droit d’exercice (Direction, Supervision of insurers and Control of Right to Practise), such as the appropriate file naming convention. Please note that the guide of specific requirements does not list the required or requested documents and information and the dates by which they are to be filed. The guide of specific requirements is available on the AMF website at: http://www.lautorite.qc.ca/en/financial-returns-pro.html Further information Further information is available by sending an e-mail to info-divulgations@lautorite.qc.ca. December 15, 2016

DOCUMENTS TO BE FILED BY P&C INSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2016 APPENDIX 1 Unstructured Return Code File Format Due date

  1. P&C Annual Return. Hyperlink to instructions and updated form: http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. P&C Annual Return, duly signed. The pdf file must be complete, in printable format, and conform with the "paper" version kept on file at the insurer's premises. It must include, among others, the following documents:
  • 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 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 of Opinion (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
  2. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  3. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) 120 pdf February 28, 2017
  4. 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 December 31, 2016.” (if applicable) 180 pdf February 28, 2017
  5. Business Plan for the year 2017. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test. (MCT) 190 pdf February 28, 2017 (New)
  6. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file February 28, 2017
  7. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 pdf
  8. Non-consolidated financial statement of the insurer, and subsidiaries, affiliates and joint ventures in which the insurer has an ownership interest. (if applicable) 300 pdf February 28, 2017
  9. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file February 28, 2017
  10. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  11. Peer review - Appointed actuary's report. 440 pdf Note 1
  12. Dynamic Capital Adequacy Testing - DCAT, duly signed. (The updated instructions are available on the AMF website.)
  13. Excel File containing certain DCAT data. (The Excel file is available on the AMF website.) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  14. Peer review - DCAT. (if applicable) 520 pdf Note 1
  15. Reinsurance coverage notes relating to all reinsurance treaties or arrangements effective in 2016. (if applicable) 590 pdf February 28, 2017
  16. Earthquake Exposure Data Form. (This form must be completed regardless of whether the company has earthquake exposure or not.) http://www.lautorite.qc.ca/en/earthquake-pro.html
  17. Ethics committee report. 760 pdf February 28, 2017 QUEBEC
  • ASCII (.nu1/.tx1) February 28, 2017 Note 1 : 30 days after transmission to the Audit Committee. 510 Excel May 31, 2017 May 31, 2017 Searchable pdf file 500

Excel & ASCII (.num) February 28, 2017

  • pdf February 28, 2017 110 pdf 740 Excel April 15, 2017 February 28, 2017
  • if available before February 28, 2017 you must include the report in the pdf version of the P&C - pdf March 31, 2017 Annual Return form.

DOCUMENTS TO BE FILED BY P&C INSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2016 APPENDIX 1 Unstructured Return Code File Format Due date

  1. P&C Annual Return. Hyperlink to instructions and updated form: http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. P&C Annual Return, duly signed. The pdf file must be complete, in printable format, and conform with the "paper" version kept on file at the insurer's premises. It must include, among others, the following documents:
  • 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 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 of Opinion (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.
  2. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  3. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) 120 pdf February 28, 2017
  4. 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 December 31, 2016.” (if applicable) 180 pdf February 28, 2017
  5. Business Plan for the year 2017. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test. (MCT) 190 pdf February 28, 2017
  6. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file February 28, 2017
  7. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 pdf
  8. Financial statements of the insurer, and subsidiaries, affiliates and joint ventures in which the insurer has an ownership interest. (if applicable) 300 pdf February 28, 2017
  9. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file February 28, 2017
  10. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  11. Peer review - Appointed actuary's report. 440 pdf Note 1
  12. Dynamic Capital Adequacy Testing - DCAT, duly signed. 500 Searchable pdf file December 31, 2017
  13. Excel File containing certain DCAT data. (The Excel file that must be used is available on the AMF website.) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  14. Peer review - DCAT. 520 pdf Note 1
  15. Earthquake Exposure Data Form. (This form must be completed regardless of whether the company has earthquake exposure or not.) http://www.lautorite.qc.ca/en/earthquake-pro.html pdf February 28, 2017
  • ASCII (.nu1/.tx1) February 28, 2017 110 740 Excel May 31, 2017 510 Excel December 31, 2017 FEDERAL AND EXTRA-PROVINCIAL Note 1 : 30 days after transmission to the Audit Committee.

Excel & ASCII (.num) February 28, 2017

  • if available before February 28, 2017 you must include the report in the pdf version of the P&C pdf March 31, 2017 Annual Return form.
  • pdf February 28, 2017

DOCUMENTS TO BE FILED BY P&C INSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2016 APPENDIX 1 Unstructured Return Code File Format Due date

  1. P&C Annual Return, duly signed. The Excel file must contain the duly signed certification by the chief agent in Canada (page 99.11) and the notes to the financial statements, draft version. Hyperlink to instructions and updated form: http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. P&C Annual Return, duly signed. The pdf file must be complete, in printable format, and conform with the "paper" version kept on file at the insurer's premises. It must include, among others, the following documents:
  • Annual corporate information (page 10.10 to 10.16)
  • Corporate organization chart (page 10.30)
  • Statement of cash flows (page 20.52)
  • Notes to the financial statements (page 20.60)
  • Duly signed independents auditor’s report to primary regulator covering pages 20.10 through 20.60 (page 20.70)
  • Duly signed independent auditor's report on BAAT
  • Duly signed appointed actuary's Certificate of Opinion (page 20.80)
  • Duly signed Certification by the chief agent in Canada (page 99.11)
  • Duly signed Certification by the president/chief executive officer (page 99.15)
  1. Attestation of Compliance of Versions (P&C), duly signed. (The Attestation must be dated and signed further to the issue of the auditor's report.) http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) 120 pdf May 31, 2017
  3. 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 December 31, 2016.” (if applicable) 180 pdf February 28, 2017
  4. Business Plan for the year 2017. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Branch Adequacy of Assets Test. (BAAT) 190 pdf February 28, 2017
  5. Audited Statutory Financial Statements of the insurer incorporated abroad and operating via a branch in Canada, duly signed. ("Official" version) (Worldwide) 200 pdf May 31, 2017
  6. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 pdf
  7. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file February 28, 2017
  8. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  9. Peer review - Appointed actuary's report. 440 pdf Note 1
  10. Dynamic Capital Adequacy Testing - DCAT, duly signed. 500 Searchable pdf file December 31, 2017
  11. Excel File containing certain DCAT data. (The Excel file that must be used is available on the AMF website.) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  12. Peer review - DCAT. 520 pdf Note 1
  13. Earthquake Exposure Data Form. (This form must be completed regardless of whether the company has earthquake exposure or not.) http://www.lautorite.qc.ca/en/earthquake-pro.html Note 1 : 30 days after transmission to the Audit Committee or the Chief Representative in Canada. 110 pdf May 31, 2017
  • ASCII (.nu1/.tx1) February 28, 2017 510 Excel December 31, 2017 740 Excel May 31, 2017
  • pdf May 31, 2017

Excel & ASCII (.num) February 28, 2017 FOREIGN

DOCUMENTS TO BE FILED BY P&C REINSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2016 APPENDIX 2 Unstructured Return Code File Format Due date

  1. P&C Annual Return. Hyperlink to instructions and updated form: http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. P&C Annual Return, duly signed. The pdf file must be complete, in printable format, and conform with the "paper" version kept on file at the insurer's premises. It must include, among others, the following documents:
  • 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 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 of Opinion (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.
  2. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  3. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) 120 pdf March 14, 2017
  4. 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 December 31, 2016.” (if applicable) 180 pdf March 14, 2017
  5. Business Plan for the year 2017. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test. (MCT) 190 pdf March 14, 2017 (New)
  6. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file March 14, 2017
  7. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 pdf
  8. Non-consolidated financial statement of the insurer, and subsidiaries, affiliates and joint ventures in which the insurer has an ownership interest. (if applicable) 300 pdf March 14, 2017
  9. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file March 14, 2017
  10. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  11. Peer review - Appointed actuary's report. 440 pdf Note 1
  12. Dynamic Capital Adequacy Testing - DCAT, duly signed. (The updated instructions are available on the AMF Website.)
  13. Excel File containing certain DCAT data. (The Excel file is available on the AMF website.) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  14. Peer review - DCAT. (if applicable) 520 pdf Note 1
  15. Reinsurance coverage notes relating to all reinsurance treaties or arrangements effective in 2016. (if applicable) 590 pdf March 14, 2017
  16. Earthquake Exposure Data Form. (This form must be completed regardless of whether the company has earthquake exposure or not.) http://www.lautorite.qc.ca/en/earthquake-pro.html
  17. Ethics committee report. 760 pdf February 28, 2017 QUEBEC
  • pdf March 14, 2017

Excel & ASCII (.num) March 14, 2017 110 pdf March 14, 2017

  • ASCII (.nu2/.tx2) March 14, 2017 April 15, 2017 500 May 31, 2017 Searchable pdf file
  • if available before March 14, 2017 you must include the report in the pdf version of the P&C Annual Return form.
  • pdf March 31, 2017 Note 1 : 30 days after transmission to the Audit Committee. 510 Excel May 31, 2017 740 Excel

DOCUMENTS TO BE FILED BY P&C REINSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2016 APPENDIX 2 Unstructured Return Code File Format Due date

  1. P&C Annual Return. Hyperlink to instructions and updated form: http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. P&C Annual Return, duly signed. The pdf file must be complete, in printable format, and conform with the "paper" version kept on file at the insurer's premises. It must include, among others, the following documents:
  • 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 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 of Opinion (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.
  2. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  3. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) 120 pdf March 14, 2017
  4. 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 December 31, 2016.” (if applicable) 180 pdf March 14, 2017
  5. Business Plan for the year 2017. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test. (MCT) 190 pdf March 14, 2017
  6. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file March 14, 2017
  7. Annual report prepared for shareholders or members, duly signed as soon as possible. (if applicable) 200 pdf
  8. Financial statements of the insurer, and subsidiaries, affiliates and joint ventures in which the insurer has an ownership interest. (if applicable) 300 pdf March 14, 2017
  9. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file March 14, 2017
  10. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  11. Peer review - Appointed actuary's report. 440 pdf Note 1
  12. Dynamic Capital Adequacy Testing - DCAT, duly signed. 500 Searchable pdf file December 31, 2017
  13. Excel File containing certain DCAT data. (The Excel file that must be used is available on the AMF website.) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  14. Peer review - DCAT. 520 pdf Note 1
  15. Earthquake Exposure Data Form. (This form must be completed regardless of whether the company has earthquake exposure or not.) http://www.lautorite.qc.ca/en/earthquake-pro.html
  • ASCII (.nu2/.tx2) March 14, 2017 March 14, 2017 510 Excel December 31, 2017 FEDERAL AND EXTRA-PROVINCIAL

Note 1 : 30 days after transmission to the Audit Committee. 740 Excel May 31, 2017 pdf 110 pdf March 14, 2017

  • if available before March 14, 2017 you must include the report in the pdf version of the P&C Annual Return form.
  • pdf March 31, 2017 Excel & ASCII (.num) March 14, 2017

DOCUMENTS TO BE FILED BY P&C REINSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2016 APPENDIX 2 Unstructured Return Code File Format Due date

  1. P&C Annual Return, duly signed. The Excel file must contain the duly signed certification by the chief agent in Canada (page 99.11) and the notes to the financial statements, draft version. Hyperlink to instructions and updated form: http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. P&C Annual Return, duly signed. The pdf file must be complete, in printable format, and conform with the "paper" version kept on file at the insurer's premises. It must include, among others, the following documents:
  • Annual corporate information (page 10.10 to 10.16)
  • Corporate organization chart (page 10.30)
  • Statement of cash flows (page 20.52)
  • Notes to the 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 independent auditor's report on BAAT
  • Duly signed appointed actuary's Certificate of Opinion (page 20.80)
  • Duly signed Certification by the chief agent in Canada (page 99.11)
  • Duly signed Certification by the president/chief executive officer (page 99.15)
  1. Attestation of Compliance of Versions (P&C), duly signed. (The Attestation must be dated and signed further to the issue of the auditor's report.) http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) 120 pdf May 31, 2017
  3. 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 December 31, 2016.” (if applicable) 180 pdf March 14, 2017
  4. Business Plan for the year 2017. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Branch Adequacy of Assets Test. (BAAT) 190 pdf March 14, 2017
  5. Audited Statutory Financial Statements of the insurer incorporated abroad and operating via a branch in Canada, duly signed. ("Official" version) (Worldwide) 200 pdf May 31, 2017
  6. Annual report prepared for shareholders or members, duly signed as soon as possible. (if applicable) 200 pdf
  7. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file March 14, 2017
  8. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  9. Peer review - Appointed actuary's report. 440 pdf Note 1
  10. Dynamic Capital Adequacy Testing - DCAT, duly signed. 500 Searchable pdf file December 31, 2017
  11. Excel File containing certain DCAT data. (The Excel file that must be used is available on the AMF website.) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  12. Peer review - DCAT. 520 pdf Note 1
  13. Earthquake Exposure Data Form. (This form must be completed regardless of whether the company has earthquake exposure or not.) http://www.lautorite.qc.ca/en/earthquake-pro.html March 14, 2017 Excel May 31, 2017 510 Excel December 31, 2017
  • pdf May 31, 2017
  • ASCII (.nu2/.tx2) March 14, 2017 Excell & ASCII (.num) Note 1 : 30 days after transmission to the Audit Committee or the Chief Representative in Canada. FOREIGN 110 pdf May 31, 2017 740
Share