2024 annual update to the manual of financial reporting forms and instructions for Property and Casualty Insurance Companies

To:

Chief Executive Officers and Chief Agents,
Federally Regulated Canadian and branches of Foreign Property and Casualty Insurance Companies

From:

Andrew Miller
Chief Data Officer

This letter informs you of changes made to the Canadian Council of Insurance Regulators (CCIR) regulatory forms and instructions as well as OSFI forms and instructions for 2024-25.

P&C – 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 P&C instructions effective for Q4 2024. Changes were also made to the P&C Core Financial Quarterly Return (PC1), P&C Supervisory Quarterly Return (PC2), P&C Supervisory Annual Return (PC3) and the P&C Provincial Return (PCPROV) for Q4 2024. No changes were made to the returns for Q1 2025.

The changes can be viewed on OSFI’s Web site under Property and casualty insurance return. A summary of changes can be found under Section VI of the instructions.

Minimum Capital Test/Branch Adequacy of Assets Test (PC4) Quarterly Return

No changes were made to the PC4 quarterly return 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.