The Insurance Companies (Reserves) Regulations 1996
PART IPRELIMINARY
1Citation, commencement and application
2Interpretation
3Scope
PART IIBUSINESS OTHER THAN CREDIT INSURANCE BUSINESS
4Application: Part II
5Equalisation reserve: Part II
6Business groups
7Transfers to and from the equalisation reserve
8Transfers of business by insurance company
9Transfers of business to insurance company
10Transfers from equalisation reserve where net premiums written fall below specified limits
PART III
11Application: Part III
12Equalisation reserve: Part III
PART IVMISCELLANEOUS AND SUPPLEMENTAL
13Consequential amendment
14Regulations 76 to 78 of, and Schedule 14 to, the...
SCHEDULE 1METHODS OF CALCULATING THE EQUALISATION RESERVE
PART I
1Methods of calculating transfers in
2For business falling within a business group, the amount to...
3The table referred to in paragraph 2 above is as...
PART II
4Methods of calculating transfers out
5For business falling within a business group which is accounted...
6For business falling within a business group which is accounted...
7For the purposes of paragraphs 5 and 6 above, if...
8The table referred to in paragraphs 5 and 6 above...
9The abnormal loss for each business group accounted for on...
10If the abnormal loss in respect of any business group...
PART III
11Method of calculating business group maximum
12(1) The business group maximum at the end of a...
13Method of calculating the maximum reserve
SCHEDULE 2METHOD OF CALCULATING THE EQUALISATION RESERVE FOR CREDIT INSURANCE BUSINESS
1The company shall maintain a credit insurance equalisation reserve to...
2(1) Subject to sub-paragraphs (2) and (4) below, such reserve...
3For the purposes of this Schedule, technical surplus or technical...
4In determining any technical surplus referred to in paragraph 2(1)...

1996 No. 946

INSURANCE

The Insurance Companies (Reserves) Regulations 1996

Made

Laid before Parliament

Coming into force

The Secretary of State, being a Minister designated1 for the purposes of section 2(2) of the European Communities Act 19722 in relation to the authorisation of the carrying on of insurance business and the regulation of such business and its conduct, in exercise of the powers conferred by that section and by sections 17, 34A, 90, 96(1) and 97 of the Insurance Companies Act 19823, hereby makes the following Regulations:—