# The Friendly Societies (Authorisation) Regulations 1993, Paragraph 12: Projections


For each of the first three financial years following authorisation—
(a) a forecast balance sheet (on both optimistic and pessimistic bases);
(b) a plan (on both optimistic and pessimistic bases) setting out detailed estimates of income and expenditure in respect of direct insurance business and reinsurance cessions; and
(c) estimates relating to the financial resources intended to cover underwriting liabilities and the required margin of solvency.

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Source: https://www.legislation.gov.uk/uksi/1993/99/schedule/1/paragraph/12 (the official version)
Page: https://openlegislation.uk/friendly-societies-authorisation-regulations-1993/schedule-1/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.