Regulation 28 Matching: property linked benefits

In so far as the liabilities for property linked benefits and index linked benefits are covered by assets which determine the benefits payable under a linked long term contract, regulation 27 above does not apply.

In so far as the liabilities for property linked benefits are determined by reference to assets in a currency other than that in which the company’s obligations to the policy holder are expressed, those liabilities shall for the purposes of regulation 27 be deemed to be liabilities in the first-mentioned currency.

In this regulation “property linked benefits” and “index linked benefits” have the meanings given by regulation 44(1) below.