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Application provision

11.1 This Chapter applies only to a firm that is a long-term insurer which:

  1. (1) has transferred all of its long-term insurance business to another firm;
  2. (2) has no intention to carry on further long-term insurance business; and
  3. (3) is not carrying on general insurance business.

11.1

01/07/2016

This Chapter applies only to a firm that is a long-term insurer which:

  1. (1) has transferred all of its long-term insurance business to another firm;
  2. (2) has no intention to carry on further long-term insurance business; and
  3. (3) is not carrying on general insurance business.

11.2

01/07/2016

A firm must provide to the PRA within 3 months of the date of the transfer, Forms 40, 41, 42, 43, 45 and 46 in respect of the period from the financial year most recently ended to the date of transfer together with:

  1. (1) a directors certificate that states that the Forms have been properly prepared in accordance with the requirements in these rules and that the directors are satisfied that throughout the financial year in question, the firm has complied in all material respects with the requirements in Non-Solvency II Firms sector of the PRA Rulebook; and
  2. (2) a statement that no long-term insurance business has been carried on by the firm since then, the firm has no intention to carry on further any such business and the firm is not carrying on general insurance business.

11.3

01/07/2016

The Forms provided under 11.2 must be audited by a person qualified to do so, in accordance with the rules in the Auditors Part of the PRA Rulebook, who must include an annex to those documents a report that must specify whether, in the auditors opinion, the Forms audited have been properly prepared in accordance with this Part.