Non-Solvency II Firms – Actuarial Requirements Application and Definitions

1.1

01/01/2016

See Notes

Unless otherwise stated, this Part applies to a non-directive insurer.

1.2

01/07/2016

See Notes

Chapters 2 to 6 only apply to a long-term insurer which is not a non-directive friendly society.

1.3

01/07/2016

See Notes

Chapter 7 only applies to a non-directive friendly society other than:

1. (1) a partnership pension society; and
2. (2) a flat rate benefits business friendly society.

1.4

01/01/2016

See Notes

This Part applies to an actuary appointed under 2 or 7 or appointed under or as a result of a statutory provision other than in FSMA.

1.5

10/12/2018

See Notes

In this Part, the following definitions shall apply:

actuarial function

means the function of acting in the capacity of an actuary appointed by a firm under 2.1(1) to perform the duties set out in 5.

appropriate actuary

means an actuary appointed under 7.1

Chief Executive function

for a large non-directive insurer has the meaning given in Large Non-Solvency II Firms – Senior Management Functions 3.1.

With-Profits Actuary function

for a large non-directive insurer has the meaning given in Large Non-Solvency II Firms - Senior Management Functions 8.2 and for a small non-directive insurer has the meaning given in Non-solvency II Firms – Senior Management Functions 5.1.