# The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997, Regulation 17: Schedule 4 to the 1996 Regulations: abstract of valuation report prepared by the appointed actuary


(1) The Forms included in Schedule 4 to the 1996 Regulations shall be amended as follows.
(2) In Form 47 (analysis of new ordinary long term business), omit the words “Non-linked/Linked”.
(3) In lines 14/15 of Form 48 (expected income from admissible assets not held to match liabilities in respect of linked benefits), for the words “Variable yield” substitute “Variable interest and variable yield”.
(4) In paragraph 1 of the instructions for completion of Form 48, for “48.17.1 shall equal 13.50.1” substitute “48.17.1 shall equal 13.50.1+ the appropriate part of 13.84.1”.
(5) In Form 49 (analysis of admissible fixed interest and variable yield securities not held to match liabilities in respect of linked benefits), for the words “variable yield”, in each place they occur, substitute “Variable interest and Variable yield”.
(6) After paragraph 6 of the instructions for completion of Forms 51, 52, 53 and 54, add—
“Provided that where any information to be provided in accordance with sub-paragraph (iii) duplicates any information required to be provided in accordance with paragraphs 7, 8 and 9 in respect of sub-paragraphs (i) or (ii), then for the purpose of sub-paragraph (iii), the total of the reinsurance ceded may be shown in respect of the duplicated information.”.
(7) In column 6 of Form 53 (valuation summary of property linked contracts), for the words “Current on death” substitute “Current on death/current payable per annum”.
(8) In column 6 of Form 54 (valuation summary of index linked contracts), for the words “Current on death” substitute “Current on death/current payable per annum”.
(9) In paragraph 4 of the instructions for completion of Form 55, after the words “column 8” insert “(excluding any amount shown in column 8 pursuant to paragraph 8 below)”.
(10) After paragraph 6 of the instructions for completion of Form 55 insert—
“7 Where the liability shown in column 11 of Form 53 for a specific fund link is wholly reinsured with a reinsurer being an insurance company to which Part II of the Insurance Companies Act 1982 applies, so that the entries in columns 8 and 9 of this form would otherwise be identical, the entries in respect of that fund link shall be aggregated and shown on a separate line with the name of fund link to be shown in column 1 as “wholly reinsured”.
8 Any amounts included in this analysis in accordance with paragraph 20 of this Schedule, being unit liabilities in respect of property linked benefits deposited with the company under a deposit back arrangement, shall (for each internal linked fund or directly held asset), be shown in column 8 on a separate line with the name of the unit type to be shown in column 2 as “amounts deposited back”.”.
(11) For paragraphs 3 and 4 of the instructions for completion of Form 56 (analysis of assets and liabilities matching investment liabilities in respect of index linked benefits), substitute—
“3 A separate sub-total of assets and liabilities shall be used for each index link and for each combination of assets and liabilities matching the company’s liability under any deposit back arrangement. Links to different percentages of an index shall be treated as different index links.
4 For each index link, the sub-totalled values in column 2 (excluding those held in respect of any deposit back arrangement) shall match the appropriate entries in column 12 of Form 54 net of reinsurance ceded.”.
(12) For Form 57 (matching rectangle), substitute Form 57 as set out in the Schedule to these Regulations.

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Source: https://www.legislation.gov.uk/uksi/1997/2911/regulation/17 (the official version)
Page: https://openlegislation.uk/insurance-companies-accounts-and-statements-amendment-regulations-1997/regulation-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.