{
  "url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/schedule-4/paragraph-12",
  "json_url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/schedule-4/paragraph-12.json",
  "legislation": "uksi/1996/943",
  "legislation_title": "The Insurance Companies (Accounts and Statements) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996",
  "path": "schedule/4/paragraph/12",
  "kind": "paragraph",
  "number": "12",
  "heading": null,
  "text": "(1) For long term business ceded on a facultative basis to a reinsurer who is not authorised to carry on insurance business in the United Kingdom at any time during the report period—\n(a) the aggregate of premiums payable by the company to all such reinsurers (sub-divided according to financial years, if appropriate) and the aggregate amount deposited at the valuation date under any deposit back arrangement; and\n(b) the amount of any such premiums payable by the company to reinsurer with whom the company is connected and the aggregate amount deposited at the valuation date under any deposit back arrangement.\n(2) For each treaty of reinsurance where the company is the cedant and under which business is in force at the valuation date—\n(a) the name of the reinsurer;\n(b) whether the reinsurer is authorised to carry on insurance business in the United Kingdom;\n(c) whether the company and the reinsurer are connected;\n(d) an indication of the nature and extent of the cover give under the treaty;\n(e) the premiums payable by the company under the treaty during the report period;\n(f) the amount deposited at the valuation date in respect of the treaty under any deposit back arrangements;\n(g) the extent to which provision has been made for any liability of the company to refund any amounts of reinsurance commission in the event of lapses or surrender of the contract; and\n(h) whether the treaty is closed to new business.\n(3) For each financing arrangement—\n(a) the amount of any undischarged obligation of the company and a brief description of the conditions for the discharge of such obligation; and\n(b) a description of how, if at all, all such undischarged obligations have been taken into account in the valuation.\n(4) In this paragraph—\n(a) “deposit back arrangement”, in relation to any contract of reinsurance, means an arrangement whereby an amount is deposited by the reinsurer with the cedant;\n(b) “financing arrangement” means any contract entered into by the company, in respect of contracts of insurance effected by the company, which has the effect of increasing the amount of assets included at line 34 of Form 9 above, representing assets of the company which are available to meet its required minimum margin for long term business, and which includes terms for—\n(i) the transfer of assets to the company or the creation of a debt to the company (or both); and\n(ii) either an obligation for the company to return (with or without interest) some or all of such assets or a provision for the diminution of such debt, in each case, in specified circumstances; and\n(c) paragraphs (1), (2) and (3)(a) of regulation 22 above (which relate to connected persons) shall have effect for the purposes of this paragraph as they have effect for the purposes of the regulations therein mentioned.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "renumbered (as para.15(1))",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "added",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "amended",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "renumbered (as para.20(1))",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "added",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "added",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "amended",
      "affecting": "uksi/1998/2996",
      "affecting_title": "The Insurance Companies (Amendment) Regulations 1998"
    },
    {
      "type": "amended",
      "affecting": "uksi/1998/2996",
      "affecting_title": "The Insurance Companies (Amendment) Regulations 1998"
    },
    {
      "type": "amended",
      "affecting": "uksi/2000/1231",
      "affecting_title": "The Insurance Companies (Amendment) Regulations 2000"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/943/schedule/4/paragraph/12",
    "retrieved_at": "2026-10-29T12:46:26.922464+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}