Paragraph 11 Counterparty exposure

(1)

There shall be given by way of a supplementary note to Form 13—

(a)

the maximum extent to which, in accordance with any investment guidelines operated by the company, it was permitted to be exposed to any one counterparty during the financial year in question;

(b)

the maximum extent to which, in accordance with such guidelines, it was permitted to be exposed to any one counterparty, other than by way of exposure to an approved counterparty, during the financial year in question; and

(c)

an account of any occasions during the financial year on which either of those amounts was exceeded.

(2)

In each case where the exposure of the company to a counterparty at the end of the financial year in question exceeds 5 per cent. of its long term business amount or general business amount, as appropriate—

(a)

the amount of that exposure; and

(b)

the nature of the assets held which give rise to that exposure,

shall be stated by way of a supplementary note to Form 13.

(3)

There shall be stated by way of supplementary note to Form 13 the aggregate value of any rights to which paragraph 14 of Part I of Schedule 12 to the Insurance Companies Regulations applies^f1.

Annotations

Footnotes

f1: Schedule 12 was substituted by S.I. 1995/3248, reg. 20.