Financial Institutions

The Financial Institutions Regulation Branch of the Manitoba Financial Services Agency was established in 2000. It administers The Insurance Act, The Credit Unions and Caisses Populaires Act, and Part XXIV of The Corporations Act. Financial Institutions is also responsible for the administration of certain requirements of The Cooperatives Act, namely the functions that relate to the supervision of the financial matters of cooperatives, the issuing of securities by cooperatives, and appeals of membership terminations in a housing cooperative.

In addition, Financial Institutions oversees the Insurance Council of Manitoba in its delegated role to license and supervise the activities of insurance agents, brokers and adjusters. Financial Institutions also authorizes trust and loan corporations to conduct business in Manitoba and has ultimate oversight responsibility for the credit union and caisses populaires sector in Manitoba and specific oversight responsibility for the Deposit Guarantee Corporation of Manitoba (DGCM).

Fees

LICENCE FEES FOR INSURERS, RECIPROCAL EXCHANGES & FRATERNAL SOCIETIES

Class of InsuranceLicence Fee
(a) Life insurance$1,220.00
(b) Life and Accident and Sickness insurance$1,590.00
(c) Property insurance$1,525.00
(e) Hail insurance$610.00
(f) Accident and Sickness insurance Aircraft insurance Boiler and Machinery insurance Credit insurance Credit Protection insurance Fidelity insurance Legal Expense insurance Liability insurance Marine insurance Mortgage insurance Other approved products Surety insurance Title insurance$925.00 (for 1 or more classes)
(g) Automobile insurance$795.00
(i) Reciprocal Exchange$575.00
(j) Reinsurance only$925.00
COMBINATION OF CLASSES OF INSURANCELICENCE FEE
(c) (f)$1,988.00
(c) (g)$1,923.00
(c) (f) (g)$2,280.00
(c) (e) (f)$2,280.00
(c) (e) (f) (g)$2,280.00
(c) (e)$1,830.00
(c) (e) (g)$2,228.00
(f) (g)$1,323.00
Fraternal Society (with not more than 500 members in the province)$215.00
Fraternal Society (with more than 500 members in the province)$430.00
Mutual Insurance Company (Provincial)$405.00
Attorney Fee$60.00
Discontinuing Licence$70.00
Document Examination Fee for Insurers or Reciprocal Exchanges$345.00
Fraternal Society or Mutual Benefit Society Original Document Filing Fee$85.00
The fee payable for an initial licence is reduced by half if the licence application is made after June 30 in any year.
OTHER FEES
Annual Statement Filing Fee$35.00
Certificate of Superintendent$25.00
Certified Copy of Company Licence$25.00
Copies of documents$.60 per page
Amendment Fee$60.00

Insurance Fees Regulation
Classes of Insurance Regulation

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