The Insurers (Winding Up) Rules 2001
1Citation, commencement and revocation
2Interpretation
3Application
4Appointment of liquidator
5Separation of long-term and other business in winding up
6Valuation of general business policies
7Valuation of long-term policies
8(1) This rule applies in relation to a company’s long-term...
9Attribution of liabilities to company’s long-term business
10Attribution of assets to company’s long-term business
11Excess of long-term business assets
12Actuarial advice
13Utilisation of excess of assets
14In the case of a company carrying on long-term business...
15Custody of assets
16Maintenance of accounting, valuation and other records
17Additional powers in relation to long-term business
18Accounts and audit
19Security by the liquidator and special manager
20Proof of debts
21Failure to pay premiums
22Notice of valuation of policy
23Dividends to creditors
24Meetings of creditors
25Remuneration of liquidator carrying on long-term business
26Apportionment of costs payable out of the assets
27Notice of stop order
SCHEDULE 1RULES FOR VALUING GENERAL BUSINESS POLICIES
1(1) This paragraph applies in relation to periodic payments under...
2(1) This paragraph applies in relation to liabilities under a...
3(1) This paragraph applies in relation to liabilities under a...
SCHEDULE 2RULES FOR VALUING NON-LINKED LIFE POLICIES, NON-LINKED DEFERRED ANNUITY POLICIES, NON-LINKED ANNUITIES IN PAYMENT, UNITISED NON-LINKED POLICIES AND CAPITAL REDEMPTION POLICIES
1General
2Present value of the ordinary benefits
3Present value of additional benefits
4Present value of options
5Present value of premiums
6Value of the policy
SCHEDULE 3RULES FOR VALUING LIFE POLICIES AND DEFERRED ANNUITY POLICIES WHICH ARE LINKED POLICIES
1(1) Subject to sub-paragraph (2) the value of the policy...
2(1) Where the linked liabilities are expressed in terms of...
3(1) This paragraph applies where— (a) paragraph 2(2)(a) applies and...
4Where the linked liabilities are not expressed in terms of...
5(1) The value of any liabilities other than linked liabilities...
SCHEDULE 4RULES FOR VALUING LONG-TERM POLICIES WHICH ARE NOT DEALT WITH IN SCHEDULES 2 OR 3
SCHEDULE 5RULES FOR VALUING LONG-TERM POLICIES WHERE A STOP ORDER HAS BEEN MADE
1Subject to paragraphs 2 and 3, in valuing a policy...
2(1) This paragraph applies where the policy holder has a...
3(1) This paragraph applies in the case of a linked...
SCHEDULE 6FORMS
2001 No. 3635
INSOLVENCY, ENGLAND AND WALES
COMPANIES

The Insurers (Winding Up) Rules 2001

Made
Laid before Parliament
Coming into force
The Lord Chancellor, in exercise of the powers conferred on him by section 411 of the Insolvency Act 19861 and section 379 of the Financial Services and Markets Act 20002, with the concurrence of the Secretary of State, and after consulting the committee existing for that purpose under section 413 of the 1986 Act, hereby makes the following Rules: