1964_INSURANCE_COMPANIES_ORDINANCE — Page 65

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CAP. 41]

Insurance Companies

[1988 Ed.

(2) The following supplementary information shall be furnished with the Form L1 above-

(a) the date up to which the valuation is made;

(b) the principles upon which the valuation and distribution of profits among the policy holders are made, and whether these principles were determined by the instrument constituting the insurer or by its regulations or bylaws or otherwise;

(c) the table or tables of mortality used in the valuation;

(d) the rate or rates of interest assumed in the calculations;

(e) the proportion of the annual premium income reserved as a provision for future expenses and profit (if no such provision is made in respect thereof, a statement as to what provision is made shall be furnished);

(f) the time during which a policy must be in force in order to entitle the policy holders to

share in the profits;

(g) the results of the valuation, showing-

(i) the total amount of profit made by the insurer;

(ii) the amount of profit divided among the policy holders, and the number and amount of the policies which participated;

(iii) the amount of profit brought forward from the previous valuation, the amount thereof allotted to policy holders and shareholders.

39. (1) There shall be furnished in the Forms L2 and L3 below a statement of the liabilities of the insurer under each of the types of business specified in paragraph 38(1) at the date of the valuation, showing the number of policies, the amount assured and the amount of premiums payable annually under each type of policy, both with and without participation in profits, and the net liabilities and assets of the insurer, and the amount of any surplus or deficiency.

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