This paper arose from a report prepared by a working party set up under the auspices of the Research Committee. The views in the paper are my own but they are, to a considerable extent, based upon work done by Messrs J. K. W. Davies and P. N. S. Clark. I am also indebted to Mr R. T. Foster of the Government Actuary's Department for clarifying points arising from the current Regulations.

2. The paper is concerned with the Returns made by Life Offices to the Department of Trade and Industry in accordance with The Insurance Companies (Accounts and Forms) Regulations 1968. The aims of this paper are:

(i) to discuss the objectives of the Returns,

(ii) to discuss whether the questions asked by the present Regulations and the answers currently being given in the Returns achieve these objectives,

(iii) to discuss possible changes in the Regulations, and

(iv) to discuss the role of the actuary in relation to the Returns and also in relation to the auditor.