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Proposals for the statutory basis of valuation of the liabilities of long-term insurance business

Published online by Cambridge University Press:  20 April 2012

R. P. Bews ,
P. A. C. Seymour ,
A. N. D. Shaw  and
F. R. Wales
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Extract

1.1. Section 78 of the Insurance Companies Act 1974 makes provision for Regulations to be made for the valuation of assets and liabilities. Regulations relating to the valuation of assets, although not published at the time of writing, are expected to be laid before Parliament in the near future.

It is expected that the corresponding Regulations for the valuation of liabilities will be issued later in 1975.

1.2. The Department of Trade has consulted interested bodies, including the Faculty and the Institute, with regard to proposals for the content of the Valuation of Liabilities Regulations and with its permission part of the relevant Consultative Note is reproduced in Appendix I.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 102 , Issue 2 , September 1975 , pp. 61 - 113
Copyright
Copyright © Institute and Faculty of Actuaries 1975

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