The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1991

• Citation: S.I. 1991/2736
• Sections: 8

Section 1

These Regulations may be cited as the Insurance Companies (Accounts and Statements) (Amendment) Regulations 1991 and shall come into force on 31st December 1991.

Section 2

The Insurance Companies (Accounts and Statements) Regulations 1983 shall have effect subject to the following amendments.

Section 3

In regulation 3 (interpretation), in paragraph (c) of the definition of “premiums receivable”, for “29A” substitute “38” and for “29B” substitute “39”.

Section 4

In regulation 21 (additional information on general business accepted under reinsurance treaties (proportional and non-proportional)), in paragraph (2)(a)(ii) for “Form 27” substitute “Form 27A”.

Section 5

In regulation 22 (additional information on general business accepted under reinsurance treaties (proportional))—

(a) in paragraph (2), for “Form 27” substitute “Form 27A”;

(b) in paragraph (4), for “Form 27” substitute “Form 27A”.

Section 6

In regulation 22A (additional information on direct credit business accepted), for “Form 29A” substitute “Form 38” and for “Form 29B” substitute “Form 39”.

Section 7

In Schedule 1 (balance sheet and profit and loss account), for Form 15 substitute the Form 15 set out in the Schedule to these Regulations.

Section 8

In Schedule 2 (general business: revenue account and additional information)—

(a) in the heading “GENERAL BUSINESS: REVENUE ACCOUNT AND ADDITIONAL INFORMATION (Forms 20 to 37)”, for “37” substitute “39”;

(b) in paragraph 1, for “37” substitute “39” and for “Forms 29 and 30” substitute “Form 30”;

(c) in paragraph 11, for “Forms 24, 25, 26, 34 and 35” substitute “Forms 24, 25, 26, 29, 34, 35 and 39” and after “insurance business” insert “or reinsurance treaties”;

(d) in paragraph 12, for “Forms 27 and 28” substitute “Forms 27, 27A and 28”;

(e) in paragraph 13(a), for “each Form 27” substitute “each Form 27A”;

(f) in paragraph 13(b), omit the words “with amounts shown on each Form 29 prepared pursuant to regulation 21 above and”;

(g) in Form 27, omit the entry “Total/Category (to be specified)”;

(h) after Form 27 insert Form 27A as set out in the Schedule to these Regulations;

(i) for Form 29 substitute the Form 29 set out in the Schedule to these Regulations;

(j) omit Forms 29A and 29B;

(k) after Form 37, insert Forms 38 and 39 as set out in the Schedule to these Regulations.