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2015-01-20

Notice on Filing Annual Returns and Documents for Quebec P&C Insurers – Fiscal Year Ending December 31, 2014

The Autorité des marchés financiers requires Quebec-licensed property and casualty insurers and reinsurers to electronically file updated annual returns, financial statements, actuarial reports, and compliance attestations via the File Transfer Service for the fiscal year ending December 31, 2014. Key procedural changes include a revised Affidavit requiring dual director certification and updated filing formats, with deadlines extending from late February to May 2015 depending on the document type. Failure to submit these documents within the prescribed periods may result in administrative monetary sanctions under section 405.1 of Quebec’s Act respecting insurance.

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Notice of the Authority relating to filing of annual returns and other documents for the fiscal year ending December 31, 2014 – 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”)1 . See the Appendices attached to this Notice concerning specific AMF requirements for the filing of documents for the fiscal year ending December 31, 2014. Please note that following the update of the P&C Annual Return form, the Affidavit verifying annual return has changed. This certificate must be certified under oath by two directors. The Attestation of Compliance of Versions has also been revised after this modification. 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) 2 (the “sanctions framework”) is posted on the AMF website at: http://www.lautorite.qc.ca/en/right-practice-pro.html. 1 Decision no. 2012-PDG-0106 (in French only) dated June 5, 2012 and published in the AMF Bulletin of June 7, 2012, vol. 9, no. 23, section 5.6. 2 Update published in the AMF Bulletin (in French only) dated June 7, 2012, vol. 9, no. 23, section 5.1.

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. An updated version of 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 4, 2014

DOCUMENTS TO BE FILED BY P&C INSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2014 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 independent auditor's report - MCT
  • 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. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) (New) 120 pdf February, 28, 2015 (New)
  3. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.38 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, 2014.” (if applicable) 180 pdf February 28, 2015
  4. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file February 28, 2015
  5. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 pdf
  6. 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, 2015
  7. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file February 28, 2015
  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. (30 days after transmission to the Board of Directors/Audit Committee or see due date) (The updated instructions will be available on the AMF website)
  11. Excel File containing certain DCAT data. (The Excel file will be available on the AMF website) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  12. Peer review - DCAT. (if applicable) 520 pdf Note 1
  13. Reinsurance coverage notes relating to all reinsurance treaties or arrangements effective in 2015. (if applicable) 590 pdf February 28, 2015
  14. Earthquake Exhibits (Excel) or a pdf signed letter confirming no exposure in respect of earthquake. http://www.lautorite.qc.ca/en/earthquake-pro.html
  15. Ethics committee report. 760 pdf February 28, 2015 QUEBEC
  • ASCII (.nu1/.tx1) February 28, 2015 Note 1 : 30 days after transmission to the Audit Committee. 510 Excel May 31, 2015 May 31, 2015 Searchable pdf file 500

Excel ASCII (.num) February 28, 2015

  • pdf February 28, 2015 110 pdf 740 Excel or pdf April 15, 2015 February 28, 2015

DOCUMENTS TO BE FILED BY P&C INSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2014 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 independent auditor's report on MCT
  • 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. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) (New) 120 pdf February, 28, 2015 (New)
  3. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.38 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, 2014.” (if applicable) 180 pdf February 28, 2015
  4. Business Plan for the year 2015. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test (MCT). 190 pdf February 28, 2015
  5. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file February 28, 2015
  6. Annual report prepared for shareholders or members as soon as possible. (if applicable) 200 pdf
  7. 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, 2015
  8. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file February 28, 2015
  9. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  10. Peer review - Appointed actuary's report. 440 pdf Note 1
  11. Dynamic Capital Adequacy Testing - DCAT, duly signed. (30 days after transmission to the Board of Directors/Audit Committee or see due date) 500 Searchable pdf file December 31, 2015
  12. Excel File containing certain DCAT data. (The Excel file that must be used will be available on the AMF website) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  13. Peer review - DCAT. 520 pdf Note 1
  14. Earthquake Exhibits (Excel) or a pdf signed letter confirming no exposure in respect of earthquake. http://www.lautorite.qc.ca/en/earthquake-pro.html pdf February 28, 2015 740 Excel or pdf April 15, 2015 510 Excel December 31, 2015

pdf February 28, 2015

  • ASCII (.nu1/.tx1) February 28, 2015 110 FEDERAL AND EXTRA-PROVINCIAL Note 1 : 30 days after transmission to the Audit Committee.

Excel ASCII (.num) February 28, 2015

DOCUMENTS TO BE FILED BY P&C INSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2014 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) (New) 120 pdf May 31, 2015 (New)
  3. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.39 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, 2014.” (if applicable) 180 pdf February 28, 2015
  4. Business Plan for the year 2015. 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, 2015
  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, 2015
  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, 2015
  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. (30 days after transmission to the Board of Directors/Audit Committee or see due date) 500 Searchable pdf file December 31, 2015
  11. Excel File containing certain DCAT data. (The Excel file that must be used will be 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 Exhibits (Excel) or a pdf signed letter confirming no exposure in respect of earthquake. 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, 2015
  • ASCII (.nu1/.tx1) February 28, 2015 510 Excel December 31, 2015 740 Excel or pdf April 15, 2015 FOREIGN
  • pdf May 31, 2015

Excel ASCII (.num) February 28, 2015

DOCUMENTS TO BE FILED BY P&C REINSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2014 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 independent auditor's report - MCT
  • 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. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) (New) 120 pdf March 14, 2015 (New)
  3. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.38 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, 2014.” (if applicable) 180 pdf March 14, 2015
  4. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file March 14, 2015
  5. Annual report prepared for shareholders or members as soon as possible (if applicable). 200 pdf
  6. 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, 2015
  7. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file March 14, 2015
  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. (30 days after transmission to the Board of Directors/Audit Committee or see due date) (The updated instructions will be available on the AMF Website)
  11. Excel File containing certain DCAT data. (The Excel file will be available on the AMF website) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  12. Peer review - DCAT. (if applicable) 520 pdf Note 1
  13. Reinsurance coverage notes relating to all reinsurance treaties or arrangements effective in 2015. (if applicable) 590 pdf March 14, 2015
  14. Earthquake Exhibits (Excel) or a pdf signed letter confirming no exposure in respect of earthquake. http://www.lautorite.qc.ca/en/earthquake-pro.html
  15. Ethics committee report. 760 pdf February 28, 2015 (New) QUEBEC
  • pdf March 14, 2015

Excel ASCII (.num) March 14, 2015 500 May 31, 2015 Searchable pdf file 110 pdf March 14, 2015

  • ASCII (.nu2/.tx2) March 14, 2015 Note 1 : 30 days after transmission to the Audit Committee. 510 Excel May 31, 2015 740 Excel or pdf April 15, 2015

DOCUMENTS TO BE FILED BY P&C REINSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2014 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 independent auditor's report on MCT
  • 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. Attestation of Compliance of Versions (P&C), duly signed. http://www.lautorite.qc.ca/en/financial-returns-pro.html
  2. Classes of insurance, duly signed. (Regulation under the Act respecting insurance) (New) 120 pdf March 14, 2015 (New)
  3. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.38 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, 2014.” (if applicable) 180 pdf March 14, 2015
  4. Business Plan for the year 2015. The Business Plan should include a forecast of the Balance Sheet, the Income Statement and the Minimum Capital Test (MCT). 190 pdf March 14, 2015
  5. Audited financial statements presented to shareholders or members, duly signed. ("Official" version) 200 Searchable pdf file March 14, 2015
  6. Annual report prepared for shareholders or members, duly signed as soon as possible. (if applicable) 200 pdf
  7. 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, 2015
  8. Appointed actuary’s report on policy liabilities, including certificate, duly signed. 400 Searchable pdf file March 14, 2015
  9. Data from the Unpaid Claims and Loss Ratio Exhibits. http://www.lautorite.qc.ca/en/policy-liabilities-report-pro.html
  10. Peer review - Appointed actuary's report. 440 pdf Note 1
  11. Dynamic Capital Adequacy Testing - DCAT, duly signed. (30 days after transmission to the Board of Directors/Audit Committee or see due date) 500 Searchable pdf file December 31, 2015
  12. Excel File containing certain DCAT data. (The Excel file that must be used will be available on the AMF website) http://www.lautorite.qc.ca/en/report-financial-condition-pro.html
  13. Peer review - DCAT. 520 pdf Note 1
  14. Earthquake Exhibits (Excel) or a pdf signed letter confirming no exposure in respect of earthquake. http://www.lautorite.qc.ca/en/earthquake-pro.html
  • ASCII (.nu2/.tx2) March 14, 2015 March 14, 2015 510 Excel December 31, 2015 FEDERAL AND EXTRA-PROVINCIAL

Note 1 : 30 days after transmission to the Audit Committee. 740 April 15, 2015 Excel or pdf pdf 110 pdf March 14, 2015 Excel ASCII (.num)

  • March 14, 2015

DOCUMENTS TO BE FILED BY P&C REINSURERS LICENSED IN QUEBEC FOR FISCAL YEAR ENDING DECEMBER 31, 2014 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) (New) 120 pdf May 31, 2015 (New)
  3. Copy of major letters of credit and confirmations from trustees of deposits held for the account of the insurer reported on page 70.39 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, 2014.” (if applicable) 180 pdf March 14, 2015
  4. Business Plan for the year 2015. 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, 2015
  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, 2015
  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, 2015
  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. (30 days after transmission to the Board of Directors/Audit Committee or see due date) 500 Searchable pdf file December 31, 2015
  11. Excel File containing certain DCAT data. (The Excel file that must be used will be 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 Exhibits (Excel) or a pdf signed letter confirming no exposure in respect of earthquake. http://www.lautorite.qc.ca/en/earthquake-pro.html March 14, 2015 Excel or pdf April 15, 2015 510 Excel December 31, 2015
  • pdf May 31, 2015
  • ASCII (.nu2/.tx2) March 14, 2015 Excell ASCII (.num) Note 1 : 30 days after transmission to the Audit Committee or the Chief Representative in Canada. FOREIGN 110 pdf May 31, 2015 740
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