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Application provision

1.1 Unless otherwise stated, this Part applies to a UK Solvency II firm carrying on with-profits insurance business.

2.1

01/01/2016

A firm shall not treat surplus funds as insurance and reinsurance obligations when valuing payments to policyholders and beneficiaries in the calculation of technical provisions in accordance with Technical Provisions 2.

Additional Notes


[Note: Art. 78(3) and Art. 91(2) of the Solvency II Directive]

2.2

01/01/2016

In order to comply with 2.1, a firm must calculate the amount, if any, of its surplus funds in accordance with 3.