Actuarial investigations and reports as to insurance business
95.—(1)  A licensed insurer must, for each accounting period —
(a)have an investigation made, by an actuary appointed with the approval of the Authority under section 35, into the financial condition of each class of business that it carries on; and
(b)lodge with the Authority such reports of the investigation referred to in paragraph (a), in such form and manner as may be prescribed or specified in directions by the Authority.
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(2)  In the case of a company incorporated or established outside Singapore, the investigation required by subsection (1) need not extend beyond the business for which an insurance fund is maintained under this Act.
(3)  If the company referred to in subsection (2) is required by the law relating to insurance in the country in which it is incorporated or established to provide the authority having the administration of that law with returns as to actuarial investigations of its insurance business, the documents to be lodged with the Authority under this section must be accompanied by certified copies of any such returns made since the company was first licensed under this Act in respect of insurance business, other than returns of which copies have previously been provided under this subsection.
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(4)  References in this Act to documents lodged with the Authority are not to be taken to include documents required by subsection (3) to accompany documents so lodged.
(5)  Where a licensed insurer —
(a)has an actuarial investigation made into its insurance business for which it maintains an insurance fund under this Act (whether with or without any other insurance business carried on by it); and
(b)the investigation is not made to comply with subsection (1) or with any provision as to returns in the law relating to insurance in a country outside Singapore, but the results of the investigation are made public,
then the insurer must, as to the lodging of documents with the Authority, comply with the requirements of subsection (1) as in the case of an investigation made under that subsection.
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