The Insurance Companies Regulations 1994 No. 1516

SCHEDULE 1 INFORMATION TO BE SUBMITTED: LONG TERM BUSINESS

PART II COMPANIES OTHER THAN EC COMPANIES WHOSE HEAD OFFICE IS IN AN EEA STATE OTHER THAN THE UNITED KINGDOM (DIRECT BUSINESS OR BOTH DIRECT BUSINESS AND REINSURANCE)

Projections for the United Kingdom

17.  For each of the first three financial years following authorisation, on both optimistic and pessimistic bases—

(a) a forecast balance sheet for the proposed branch, and

(b) a plan setting out detailed estimates of income and expenditure in respect of direct business, reinsurance acceptances and reinsurance cessions of the proposed branch.