1. Electronic – Statutory Financial Return (E-SFR) Timae Flood Bermuda Monetary Authority

2. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

3. History Prior model excel based Market consultation and Trial run completed Project reassessed following Industry Feedback

4. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

5. E-SFR System Launch Trial Run completed 31 st December 2015 E-SFR System launched 29 th April 2016 Enrolment process commenced Relevant legislation effective 1 st January 2016 Submissions from 31 st December 2016 must be filed through the E-SFR system

6. E-SFR System Overview E-SFR web application Portal for creating and filing Statutory Financial Returns (SFR) Application Manager Manages companies, Insurance Company Managers, and Returns in the system Insurance Company Manager Completes and submits Returns Statutory Financial Return

7. E-SFR Log-in Page

8. Return Navigation

9. Quick Links Tab Navigation Tool

10. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

11. The Application Manager The Role of the Application Manager The Application Manager manages the E-SFR application for each insurance company enrolled under their profile. An insurance company may have more than one Application Manager. Their duties include: 1.Creating and assigning Approved Persons 2.Creating Insurance Company Managers 3.Creating Returns

12. Approved People

13. Company Information

14. Application Manager Reports

15. Returns Landing Page

16. The Insurance Company Manager Insurance Company manager profile created by authorized Application Manager Insurance company manager is linked to specific companies Main duties include: 1.Completing the Return; 2.Generating the Declaration document for signature; 3.Submitting application requests; and 4.Submitting the return

17. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

18. New Requirements Company Information Statement of Control Schedule I – Underwriting Analysis Schedule II – Segregated Accounts Own Risk Assessment

19. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

20. Statement of Control Provide details of: Shareholder Controllers (Name, Ownership percentage, effective date) Jurisdiction of Direct and Ultimate Parent

21. Statutory Balance Sheet

22. Statutory Statement of Income

23. Statement of Capital and Surplus

24. Own Risk Assessment

25. Schedule I

26. Schedule II

28. Attachments Attachments are to be provided for the following: 1. Audit Opinion; 2.Notes to the Financial Statements; 3.Loss Reserve Specialist Opinion / Actuarial Certificate; 4.Other

29. Solvency Solvency details are pre-populated

30. Statutory Declaration Annual Statutory Declaration of Compliance information – combined to produce an automated PDF document. Compliance confirmation by PR and two Directors Upload signed declarations on declaration page(digital signature to be introduced at a later date)

31. Declaration

32. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

33. Filing Applications

34. Return Submission Validate the Return Generate PDF document Electronically submit completed Statutory Financial Return Insurers will not be required to provide a hard copy

35. Agenda History E-SFR System Overview Profiles New Requirements Creating and Completing an E-SFR Submission Support and Contact Information Questions

36. Support & Contact Information User Manual System Guide For support issues and questions: Email: eSFR@bma.bmeSFR@bma.bm

37. Questions & Answers