Paragraph 10

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch.4, para.7(6) amended by Insurance Companies (Accounts and Statements) 1997 reg.12
Sch.4, para.15 renumbered (as para.15(1)) by Insurance Companies (Accounts and Statements) 1997 reg.13
Sch.4, para.15(2) added by Insurance Companies (Accounts and Statements) 1997 reg.13
Sch.4, para.19(1)(2) amended by Insurance Companies (Accounts and Statements) 1997 reg.14(1)
Sch.4, para.20 renumbered (as para.20(1)) by Insurance Companies (Accounts and Statements) 1997 reg.15
Sch.4, para.20(2)(3) added by Insurance Companies (Accounts and Statements) 1997 reg.15
Sch.4, para.21(1)(d) added by Insurance Companies (Accounts and Statements) 1997 reg.16
Sch.4, para.20(3) amended by Insurance Companies 1998 reg.9
Sch.4, Form 60 amended by Insurance Companies 1998 reg.10
Sch.4 amended by Insurance Companies 2000 reg.3

(1)

The assumed levels of inflation of expenses and the bases used in the valuation to allow for such future inflation.

(2)

The aggregate amount, grossed up for taxation where appropriate, arising during the twelve months after the valuation date from implicit and explicit reserves made in the valuation to meet expenses in fulfilling contracts in force at the valuation date, and a general description of the sources of such amounts.

(3)

The method and basis of calculation of the requirement (whether or not a reserve is thereby required) in respect of the expenses of continuing to transact new business during the twelve months following the valuation date and the amount of the reserve so calculated.

(4)

The method and basis of calculation of the requirement (whether or not a reserve is thereby required) to provide for the costs of closure to new business, if the company were to cease to transact new business twelve months after the valuation date and the amount of the reserve so calculated.