What is PwC Pro?

PwC Pro is our electronic form solution that provides enhanced ease, flexibility and features for insurers and pensions to complete and submit their federal and provincial regulatory returns.

The Canadian federal and provincial regulators have set out specific filing requirements that must be met by insurance companies and pension operating in Canada. These requirements include the preparation and filing of various financial and statistical returns on a quarterly and/or annual basis. PwC Pro is committed to providing an automated, real-time service that makes meeting these requirements highly efficient and effective, saving you time and money, while also providing regulators with the high quality data they need in accordance with their changing requirements.

What services are included?

1. PwC Pro packages to support quarterly and annual regulatory reporting requirements
2. Quarterly and annual update of the packages reflecting changes made by OSFI to the returns
3. Commitment to ensure filing adheres to the regulators' changing requirements
4. Help Desk support by PwC personnel - by phone and email
5. Access to the PwC Pro website providing bulletins, updates and interim and annual packages

PwC Pro Services supports the needs of:

1. Life insurers and fraternal benefit societies
2. Property and Casualty insurers
3. Mortgage insurers
4. Federally-registered pension plans

Outlined below are the services provided by PwC Pro in each of these categories.

Life insurers and fraternal benefit societies (“Life Pro”)

PwC Pro Services supports the following regulatory returns that must be completed and submitted by Canadian and foreign life insurance companies and fraternal benefit societies:

• Life Quarterly Return
• Life Annual Supplement
• Life Insurance Capital Adequacy Test (LICAT) Return/Life Insurance Margin Adequacy Test (LIMAT) depending on the type of company
• Key Metrics Return - OL

In addition to the various regulatory financial returns, most life insurers must file the following requested statements with Statistics Canada that are also supported by PwC Pro Services.

• Statistics Canada Balance of Payments (BP 27/28)
• Statistics Canada Quarterly Survey of Financial Statements (F7)

Quebec incorporated life insurance companies must file similar returns with l'Autorité des marches financièrs du Québec; specifically the Life Annual Supplement and Life Quarterly Return on an annual basis and/or semi-annual basis. Companies incorporated in Quebec must file on an annual and semiannual basis the ESCAP, the "Exigences de suffisance du capital en assurance de personnes ".
Learn more about the benefits and features of PwC Pro.

Property and Casualty Insurers (“P&C Pro”)

PwC Pro Services supports the following regulatory returns that must be completed and submitted by Canadian and Foreign Property and Casualty insurance companies:

• P&C Quarterly Return
• P&C Annual Supplement
• Unpaid Claims and Loss Ratio Exhibit
• Earthquake Exposure Data
• Key Metrics Return - OP

In addition to the various regulatory financial returns, most Property and Casualty insurers must file the following requested statements with Statistics Canada that are also supported by PwC Pro Services.

• Statistics Canada Balance of Payments (BP 27/28)
• Statistics Canada Quarterly Survey of Financial Statements (F8)

Learn more about the benefits and features of PwC Pro.

Mortgage Insurers Pro (“MI Pro”)

PwC Pro Services supports the following regulatory returns that must be completed and submitted by Canadian and Foreign Property and Casualty insurance companies:

• Mortgage Insurers Quarterly Return
• Mortgage Insurers Annual Supplement
• Mortgage Insurers Capital Adequacy Test (“MICAT”)
• Unpaid Claims and Loss Ratio Exhibit
• Earthquake Exposure Data
• Key Metrics Return - OP

In addition to the various regulatory financial returns, most Mortgage insurers must file the following requested statements with Statistics Canada that are also supported by PwC Pro Services.

• Statistics Canada Balance of Payments (BP 27/28)
• Statistics Canada Quarterly Survey of Financial Statements (F8)

Learn more about the benefits and features of PwC Pro.

Pension Pro

The Office of the Superintendent of Financial Institutions (OSFI) supervises approximately 1,200 federally registered pension plans to determine whether they meet the requirements as set out in the Pension Benefits Standards Act, 1985, and its associated regulations.

In furtherance of these objectives, OSFI requires that regulated plans prepare two annual returns, the Annual Information Return (OSFI 49 and OSFI 49A) and Financial Statements and General Interrogatories (OSFI 60). As with the various financial returns required to be filed by insurance companies, OSFI has determined that it would like to receive the data in XML format.

PwC Canada has developed the Pension Pro package for these two returns. One of the features of the Pension Pro package is a function to create the required XML file in accordance with OSFI specifications and validation rules. OSFI has approved the Pension Pro package to enhance the proficiency and effectiveness of OSFI 49/49A and 60 filings, saving users both time and money.

Learn more about the benefits and features of PwC Pro.