Quarterly and other returns to be lodged by captive insurers
11.—(1) A captive insurer registered to carry on general business shall lodge —
(a)
for each quarter, for each insurance fund established and maintained under the Act in respect of its general business —
(i)
a fund balance sheet in Form 1 (excluding the Annexes and Notes), as at the end of that quarter; and
(ii)
subject to regulation 13(4), a statement in Form 6 (excluding Items C to G and the Notes), giving as regards policies belonging to that class of business particulars of premiums, claims, underwriting results and operating results during that quarter; and
(b)
for each accounting period, for each insurance fund established and maintained under the Act in respect of its general business, subject to regulation 13(4), a statement in Form 6 (excluding Items C to G and the Notes), giving as regards policies belonging to that class of business particulars of premiums, claims, underwriting results and operating results during that accounting period.
(2) A captive insurer registered to carry on life business shall lodge for each quarter, for each insurance fund established and maintained under the Act in respect of its life business —
(a)
a fund balance sheet in Form 1 (excluding the Annexes and Notes), as at the end of that quarter; and
(b)
separate statements in Form 3 for all policies issued to individuals and in Form 4 for all policies issued to groups of individuals, giving as regards policies belonging to each type of life business particulars of —
(i)
the issue of new policies;
(ii)
the termination of policies and the transfers of policies to or from the register of Singapore policies or offshore policies, as the case may be, during that quarter; and
(iii)
the business in force as at the end of that quarter .
(3) In the case of a captive insurer incorporated in Singapore, the insurer shall, in addition to the relevant forms set out in paragraphs (1) and (2), lodge for each accounting period in respect of its global business operations a balance sheet in Form 8 (excluding the Annex and Note) as at the end of that accounting period.
(4) Section 36(3) of the Act shall not apply to a captive insurer in respect of any statement of account lodged under this regulation.