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Term Definition Legal instruments

best estimate liabilities for fees purposes

01/03/2019

THIS DEFINITION ONLY APPLIES TO THE FEES PART

means:

    1. (1) for UK Solvency II firms in the general insurance fee block (A3), the sum of items entered under row codes R0010, R0370, R0380, R0410 and R0420, column code C0180, of the annual quantitative reporting template S17.01.01, plus the sum of items entered under row codes R0010 and R0030, column codes C0090, C0140 and C0190, of the annual quantitative reporting template S12.01.01, as reported to the PRA;
    2. (2) for non-directive firms in the general insurance fee block (A3), a firm’s total gross technical provisions as reported to the PRA under item 19 of form 15, or where this is not reported because the firm is a marine mutual under the Insurance Companies – Reporting Part, item 29 of form M2, or where the firm is a friendly society, the balance sheet entry C3 claims outstanding where this entry is required under the Friendly Societies (Accounts and Related Provisions) Regulations 1994 (SI 1994/1983), and otherwise zero; and
       and
    3. (3) for UK Solvency II firms in the life insurance fee block (A4), the sum of items entered under row codes R0010 and R0030, column codes C0150 and C0210, minus the sum of items entered under row codes R0010 and R0030, column codes C0090, C0140 and C0190 of the annual quantitative reporting template S12.01.01, minus corporate pension business reported under column code C0180 of the annual quantitative reporting template S14.01.01, and minus 0.35 x unit-linked business which is not also corporate pension business reported under column code C0180 of the annual quantitative reporting template S14.01.01, as reported to the PRA.