Prudential Regulation Authority Rulebook

2.1

A firm must, with respect to each financial year, prepare all relevant Forms, statements and documents as set out in this Part which must include, subject to 2.2 and Chapter 11, a revenue account for the year, a balance sheet as at the end of the year and a profit and loss account for the year.

2.2

An insurer not trading for profit must, with respect to each financial year, prepare an income and expenditure account for the year.

2.3

A firm’s financial year must be a 12 month period.

2.4

A firm must deposit with the PRA, in accordance with the rules in Chapter 9, one copy of every Form and document that they are required to complete under these rules.

2.5

Every firm must ensure that all Forms and statements to be deposited with the PRA are audited in accordance with the provisions of Chapter 7 by a person qualified in accordance with the Auditors Part of the PRA Rulebook, with the exception of the following documents and Forms:

1. (1) any directors certificates;
2. (2) Form 46;
3. (3) Form 50; and
4. (4) any statements required under 4.24 and 4.25.

2.6

A firm must provide to any person who so requests (or the person who has already been provided with a copy under (1) below):

1. (1) within 30 days of the date of request, a copy of any of the documents last deposited by the firm under 2.4 in respect of the financial year in question and the two financial years preceding the financial year in question;
2. (2) within 30 days of the date of deposit, a copy of any document deposited by the firm in accordance with 9.4 which corrects or makes good any document provided under (1); and
3. (3) within 30 days of the date of request, a copy of any report deposited with any such document under 9.5,

and the documents must be provided in the form requested (whether printed or electronic) and the firm may only make a charge to cover its reasonable costs, including those of printing and postage except in the case of (2).

2.7

A firm must ensure a directors certificate is completed and signed in accordance with this Part.

2.8

Subject to 2.9, the signatories of the documents to be deposited with the PRA are:

1. (1) if the firm is a large non-directive insurer:
1. (a) where there are more than two directors of the firm, at least two of those directors; or
2. (b) where there are not more than two directors, all the directors,
2. and the individual(s) approved to perform the Chief Executive Function; or
3. (2) if the firm is a small non-directive insurer:
1. (a) where there are more than two directors of the firm, at least two of those directors; or
2. (b) where there are not more than two directors, all the directors,
4. and the individual(s) approved to perform the Small Insurer Senior Management Function.

2.9

In respect of any document relating to insurance business carried on through a branch in the UK by a Swiss general insurer the signatories for the purposes of a directors certificate are:

1. (1) the authorised UK representative referred to in article 3(1)(a) of the Financial Services and Markets Act 2000 (Variation of Threshold Conditions) Order 2001 (2001/2507); and
2. (2) the individual(s) approved to perform the Head of Third Country Branch function.