Filing Requirements for Life Insurance Corporations Authorized in the Province of B.C.

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Pursuant to section 163 of the Financial Institutions Act, every life insurance corporation incorporated by or under the laws of a jurisdiction other than B.C. (extraprovincial life insurance corporation) that held a business authorization for this province at the end of its latest fiscal year is required to file year end information with this office.

Unless otherwise indicated, the filing requirements below are due within 60 days of the corporation’s fiscal year end and must be submitted through BCFSA’s Integrated Regulatory Information System (“IRIS”) portal.

For life insurance corporations that write travel insurance (including accidental and sickness insurance), the established filing requirements are those listed below. The filing requirements for property and casualty insurance corporations are not applicable.

Further instructions can be found here:

Filing RequirementsFIA SectionFormat RequiredOSFIOSFI (Foreign Branch)Alta.N.B.Que.
Life Core Financial Statement Return (LF1 for Q4) 163(1) Special Excel and ASCII Files x x x x3 x
Life Supervisory Quarterly Return (LF2 for Q4) 163(1) Special Excel and ASCII Files x x x x3 x
Life Supervisory Annual Return (LF3) 163(1) Special Excel and ASCII Files x x x x3 x
Life Supplementary Quarterly Return (LF4 for Q4) 163(1) Excel File x x x4 x3,4-
Life Provincial Return (LFPROV for Q4) 163(1) Special Excel and ASCII Files xxx x3 x
Auditor’s Report to the Superintendent on the Life Annual Return 163(1) PDFx x1 x x3 x
Life Insurance Capital Adequacy Test (LICAT) Quarterly Return and Annual Supplement (LCQ for Q4 and LCA) 163(1) Special Excel and ASCII Files x-x x3 -
Auditor’s Report to the Superintendent on the LICAT Return 163(1) PDF x2 -x x3 -
External Audit Opinion on the numerator and denominator of key regulatory ratios in LICAT Schedule 10.100163(3)PDF x2,4 - x2,4 x3,4 -
Senior Management Attestation on LICAT Cover Schedule (for Q4) 163(3) Special Excel File x4 -x4 x3,4-
Internal Audit Opinion on the effectiveness of the processes and internal controls in place for the LICAT7 163(3) Special Excel File or PDF x2,4 -x2,4 x3,4-
Opinion of the Appointed Actuary from the Actuarial Report 163(1) PDF xxx x3 x
Annual Financial Statements (include Auditor’s Report) 163(1)(a) PDF x-x x3 x
Parent’s Annual Financial Statements (include Auditor’s Report, if any) 163(1)(b) PDF x6 x6 x6 x6 x6
Internal Capital Target (ICT) – Total and Core 163(3)(a)ICT% only xxx x3 x
Insurance Annual Fee
(Financial Institutions Fees Regulation Section 2(1) and item 11.1)
--xxx xx
Annual Foreign Corporation Financial Statements (include Auditor’s Report)163(1)(a)PDF- x1 ---
Annual Financial Statements Canadian Branch
(include Auditor’s Report)
163(3)(a) PDF - x1 ---
Life Insurance Margin Adequacy Test (LIMAT) Quarterly Return and Annual Supplement (LCQ for Q4 and LCA) 163(1) Special Excel and ASCII Files -x---
Auditor’s Report on LIMAT 163(1) PDF - x1 ---
External Audit Opinion on the numerator and denominator of key regulatory ratios in LIMAT Schedule 120.000163(3)PDF- x1,4 ---
Senior Management Attestation on LIMAT Cover Schedule (for Q4)  163(3) Special Excel File -x4---
Internal Audit Opinion on the effectiveness of the processes and internal controls in place for the LIMAT7163(3) Special Excel File or PDF- x2,4 ---
Exigences de Suffisance du Capital en Assurance de Personnes (ESCAP)
Quarterly Return (Q4 only) and Annual Supplement
163(1) Special Excel and ASCII Files ----x
Auditor’s report on ESCAP 163(1) PDF ----x2
External Audit Opinion on the numerator and denominator of key regulatory CARLI ratios in ESCAP Schedule 10.100163(3)PDF---- x2,4
Senior Management Attestation on ESCAP Cover Schedule (for Q4) 163(3)Special Excel File----x4
Internal Audit Opinion on the effectiveness of the processes and internal controls in place for the ESCAP7 163(3)Special Excel File or PDF---- x2,4
Annual Statement of Market Conduct (ASMC)5 163(3)(b)Excel File, AMF E-services for Complaints Reporting x x x x x
1 Requirement due by May 31st 
2 Requirement due within 90 days of the company’s fiscal year end 
3 Requirement due by March 31st 
4 Required to be filed with BCFSA if it must be filed with the primary regulator
5  ASMC is required to be filed with the AMF by May 1st of each year
6 Requirement due within 180 days of the corporation’s fiscal year end
7 Requirement at a minimum once every three years

Penalties for Non-Compliant Filing

Please note that some of the above filing submissions are subject to Non-Compliant Filings Administrative Penalty under the Administrative Penalties Regulation of the Financial Institutions Act.

Questions

If you have questions, please contact BCFSA at filings@bcfsa.ca.