2024 annual update to the manual of financial reporting forms and instructions for Canadian Mortgage Insurance Companies
Information
Table of contents
To:
Chief Executive Officers
Federally Regulated Canadian Mortgage Insurance Companies
From:
Andrew Miller
Chief Data Officer
This is to advise you of the changes that were made to the Canadian Council of Insurance Regulators (CCIR) regulatory forms and instructions as well as OSFI forms and instructions for 2024-25.
MI – Annual/Quarterly Returns and Instructions
Changes were made to Section I (Introduction), Section II (Filing Requirements), Section IV (Detailed Instructions) and Section V (Jurisdictional Requirements) of the Mortgage Insurance instructions effective for Q4 2024. Changes were also made to the MI Core Financial Quarterly Return (MI3), MI Supervisory Quarterly Return (MI4), MI Supervisory Annual Return (MI5) and the MI Provincial Return (MIPROV) for Q4 2024. No changes were made to the returns for Q1 2025.
The changes can be viewed on OSFI’s Web site under Mortgage Insurance Return and Instructions. A summary of changes can be found under Section VI of the instructions.
Mortgage Insurers Capital Adequacy Test (MICAT) Quarterly Return
Minor changes were made to the MICAT (MI) return and filing instructions effective Q2 2024. No further changes are expected for Q4 2024 or Q1 2025.
Validation Rules
Any updates to the validation rule reports will be posted on OSFI’s Web site 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.