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Paragraph 11 Projections

Original text. Later amendments are not shown.

For each of the first three financial years following authorisation—

(a)

a forecast balance sheet;

(b)

estimates relating to expenses of management (other than costs of installation) and in particular to current general expenses and commissions;

(c)

estimates relating to premiums or contributions both gross and net of reinsurance and to claims (after all reinsurance recoveries);

(d)

estimates relating to the financial resources intended to cover underwriting liabilities and the required margin of solvency.