Council Directive 91/674/EEC of 19 December 1991 on the… Article 15

Article 15

Assets: item D Investments for the benefit of life assurance policyholders who bear the investment risk. In respect of life assurance this item shall comprise, on the one hand, investments the value of which is used to determine the value of or the return on policies relating to an investment fund and, on the other hand, investments serving as cover for liabilities which are determined by reference to an index. This item shall also comprise investments which are held on behalf of the members of a tontine and are intended for distribution among them.