Returns to be lodged by insurers
3.—(1)  For the purpose of section 36(1) of the Act, a registered insurer shall lodge statements of account and other statements in accordance with this regulation.
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(1A)  The forms mentioned in this regulation are those set out in the First Schedule.
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(1B)  A form prescribed by this regulation shall be completed in accordance with such directions as may be specified in the form or by the Authority.
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(2)  An insurer registered to carry on general business shall lodge, for each accounting period, for each insurance fund established and maintained under the Act in respect of its general business —
(a)a fund balance-sheet as at the end of that accounting period in Form 1;
(b)a fund revenue account in Form 6; and
(c)a statement in Form 7 giving as regards policies belonging to general business particulars as to premiums, claims, underwriting results and operating results during that accounting period.
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(3)  A direct insurer registered to carry on life business shall lodge, for each accounting period, for each insurance fund established and maintained by the insurer under the Act —
(a)a fund balance-sheet as at the end of that accounting period in Form 1;
(b)a fund revenue account in Form 2;
(c)separate statements in Form 3 for policies issued to individuals and in Form 4 for policies issued to groups of individuals, giving as regards policies belonging to each type of life business as required in the forms —
(i)particulars on the issue of new policies;
(ii)the termination and transfers of policies to or from the register of Singapore policies or offshore policies, as the case may be, during that accounting period; and
(iii)the business in force as at the end of that accounting period; and
(d)a statement in Form 5 giving particulars on premiums and commissions incurred during that accounting period.
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(3A)  A direct insurer registered to carry on life business shall lodge, for each accounting period, each of the forms set out in paragraph (3) for the aggregate of all insurance funds established and maintained by the insurer in respect of Singapore policies which are non-investment-linked policies.
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(3B)  A reinsurer registered to carry on life business shall lodge, for each accounting period, for each insurance fund established and maintained under the Act in respect of its life business —
(a)a fund balance-sheet as at the end of that accounting period in Form 1;
(b)a fund revenue account in Form 2; and
(c)a statement in Form 3A giving as regards policies belonging to each type of life business —
(i)particulars on the issue of new policies;
(ii)the termination and transfers of policies to or from the register of Singapore policies or offshore policies, as the case may be, during that accounting period; and
(iii)the business in force as at the end of that accounting period.
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(3C)  A captive insurer registered to carry on life business shall lodge, for each accounting period, for each insurance fund established and maintained by the insurer under the Act —
(a)a fund balance-sheet as at the end of that accounting period in Form 1; and
(b)a fund revenue account in Form 2.
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(4)  There shall be lodged for each financial year by a registered insurer incorporated in Singapore, in respect of the insurer’s global business operations —
(a)a balance-sheet, which shall be in Form 8, as at the end of that financial year; and
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(b)a revenue and profit and loss statement which shall be in Form 9.
(5)  There shall be lodged for each financial year by a registered insurer (other than a captive insurer) incorporated in Singapore and registered in respect of life business, in relation to the insurer’s total life insurance operations —
(a)a balance-sheet, which shall be in Form 10, as at the end of that financial year; and
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(b)a revenue account which shall be in Form 11.
(6)  There shall be lodged for each financial year by a registered insurer (other than a captive insurer) incorporated or established outside Singapore and registered in respect of general business, a statement which shall be in Form 12 on the solvency margin of the insurer’s global business operations.
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