PINS Chapter 9 Actuarial reporting
Guidance for Chapter 9
Insurers that conduct long term insurance business, and certain insurers that conduct general insurance business, are required to appoint an individual to exercise the actuarial function (an approved actuary). An insurer that is required to appoint an approved actuary must have the approved actuary prepare and submit a report, called a financial condition report, in accordance with Part 9.1, to the insurer's governing body and the Regulatory Authority every year. An insurer that is not required to appoint an approved actuary must consider every year whether to obtain an actuarial report in accordance with Part 9.2, and must actually obtain such a report at least every 3 years.
Note for ch 9
See also CTRL, div 4.1.E, for an insurer's general obligations in relation to its actuarial system.
|Editorial changes (as from 1 January 2015).|