OpenLegislation

Paragraph 17 Projections

Original text. Later amendments are not shown.

For each of the first three financial years following authorisation—

(a)

a forecast balance sheet (on both optimistic and pessimistic bases),

(b)

a plan (on both optimistic and pessimistic bases) setting out detailed estimates of income and expenditure in respect of direct business, reinsurance acceptances and reinsurance cessions, and

(c)

estimates relating to the financial resources intended to cover underwriting liabilities and the margin of solvency.