Life Pro Early Filers

Life Pro 2026 Interim Release – Version Z

‍

The SETpro 2026 Interim Early Filers release is now available for download on the SETpro website. This release includes the following packages:

• Life Pro 2026 Interim Version Z
• LICAT-LIMAT-ESCAP Pro 2026 Interim (2025 Guideline)

This release includes enhancements to the Pro tool user experience and significant changes to the LICAT and ESCAP returns included in the LICAT-LIMAT-ESCAP 2026 Interim Pro tool.

1. Life Pro 2026 Interim

While the reporting requirements and validations for LF1, LF2, and LFProv remain unchanged, this release was updated to enhance processing speed and improve the overall user experience for the Early Filers. See section 3 for more details on the updates to the Life Pro tool performance.

2. LICAT-LIMAT-ESCAP Pro 2026 Interim (2025 Guideline)

The 2026 release includes the 2025 LCQ and 2025 ESCAP Quarterly Returns which align with the 2025 LICAT and ESCAP Guidelines. These requirements, now effective for Early Filers in FY2026, are detailed below:

Segregated Fund Guarantee Risk:

• The LCQ and ESCAP Quarterly returns have been updated to reflect the 2025 Guideline changes.
• This includes the addition of two new pages:
  - Page 70.300
  - Page 70.400
• The capital requirements related to this risk are now captured on:
  - LICAT Ratios page 10.100
• Eligible Deposits (page 10.500): This page has been moved from the annual return to the quarterly return. The content of the page remains unchanged.
• Available Capital Tier 1 (page 20.100):
  
  • A new row has been added to accommodate tax adjustments and amounts recoverable associated with negative reserves for unregistered reinsurance on surrender.
  • The memo items section now includes additional rows for reporting CSM (Contractual Service Margin).
    

Available Capital Deductions (page 20.300):

• Tier 1 deductions now include 2 new rows for:
  - Group 2 Crypto assets
  - Other Tier 1 deductions not explicitly listed
• Tier 2 deductions now include two new rows for:
  - Tax adjustments and amounts recoverable associated with negative reserves for unregistered reinsurance on surrender
  - Other Tier 2 deductions not explicitly listed

Negative Reserves (page 20.600):

• Amounts recoverable on surrender now includes a row for the surrender charge of segregated fund policy.
• Unregistered reinsurance credits have been removed and replaced with:
  - Aggregate negative best estimate liabilities ceded to unregistered reinsurance
  - An adjustment for stop-loss arrangements
• A new Memo Item section has been added, including rows to capture adjustments made elsewhere in the return for:
  - Tax adjustments
  - Amounts recoverable on surrender

Segregated Fund Guarantee Sensitives (Page 910.000):

• This page is included in the AMF’s ESCAP return and is new for 2025.
• Filing is mandatory for:
  - Insurers incorporated in Quebec
  - Insurers licensed in Quebec, specifically in the second and fourth quarters

Quarterly ESCAP Return updates include:

The Quarterly ESCAP return has been updated to align with the changes described for LICAT, specifically:

• Pages 70.300 and 70.400 include additional reporting information compared to the LCQ.
• Page 50.100 and 80.000 has been updated to align with LICAT LCQ page 50.100.
• Page 110.000 includes a new row for Crédit pour diversification - Risque relatif aux garanties de fonds distincts relativement à l'approche par modèle interne.

3. Pro Tools Improvements

The Pro tools have been updated to include the following enhancements:

• Early Filer Enhancement – The 2026 tool now automatically populates the correct period-end date for Early Filers. Once you select your quarter and other reporting criteria, the cover page will update dynamically, eliminating the need for manual adjustments.
• Performance Optimization – To enhance the speed and responsiveness of the Life and LICAT-LIMAT-ESCAP Pro tools, we have updated the background processing for page footers. Users will experience performance gains during initial file opening, output generation, and print execution.

Contact information

The Pro Support Team is happy to assist you with any questions or concerns. Please do not hesitate to contact our Support Team general mailbox at support@setproco.com.

For account related inquiries or new user access, reach out to us at hello@setproco.com.

‍