Financial and Consumer Affairs Authority of Saskatchewan

FCAA is Saskatchewan’s financial and consumer marketplace regulator.

Apply for a licence

  • Apply for a licence

    The Saskatchewan Insurance Act (SIA) provides the framework for how insurance sales are regulated in Saskatchewan.

    If you are seeking to become a licensed insurer, you must:

    1. Submit a completed application form;
    2. Provide all of the supporting materials described in the licensing kit;
    3. Remit the $1,000 initial review fee (first time applicants only);
    4. Pay the required licence fee of:
    • for a fraternal society ... $ 1,500
    • for a mutual or co-operative insurance company, not registered under The Insurance Companies Act (Canada) ... $ 1,500
    • for a reciprocal insurance exchange ... $ 3,000
    • for an underwriters agency ... $ 3,000
    • for an insurer to undertake reinsurance exclusively ... $ 3,000
    • for a Shareholder Corporation, sum of a basic fee of $3,000; and an additional fee of $3,000 to a maximum of $9,000 for each class of insurance (i.e. maximum fee = $12,000)
    • for and insurer who has discontinued undertaking contracts of insurance in Saskatchewan ... $1,500.

    Every Saskatchewan incorporated entity and every reciprocal insurance exchange seeking an initial licence should contact the office of the Superintendent of Insurance to discuss additional requirements.

    The classes of insurance under the SIA are not necessarily identical to those in other jurisdictions. See Saskatchewan Classes of Insurance Referenced to OSFI Classes for assistance in selecting the appropriate classes of insurance.

    Renewal licence applications

    Insurance licences expire 5 years after they are issued and must be renewed if the insurer is continuing to sell insurance in Saskatchewan. Applications for licence renewal may be made using the Canadian Council of Insurance Regulators Application for Insurer’s Licence form. Renewals require only completion of the statutory declaration, Parts A, B, C, Appendices II and III (only if there has been any change), as well as the renewal fee (based on the information in Appendix IV)

    Insurance and Real Estate Division

    Suite 601, 1919 Saskatchewan Drive

    Regina, Saskatchewan S4P 4H2

    Tel: (306)787-6700

    Fax: (306)787-9006

    Email: fcaa@gov.sk.ca

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