Returns on actuarial investigation of general business
7.—(1) For the purposes of section 36(1) of the Act, an insurer registered to carry on general business shall lodge for each accounting period an actuary’s report on the actuarial investigation under section 37(1) of the Act of policy liabilities relating to its general business, which shall be signed by the actuary.
(2) For the purposes of section 37(1) of the Act, an insurer registered to carry on general business shall lodge for each accounting period —
(a)
an abstract of the actuary’s report on policy liabilities relating to its general business, which shall include the matters specified in paragraph 2 of the Second Schedule; and
(b)
an actuary’s certificate in Form 20, which shall —
(i)
state the actuary’s opinion on policy liabilities of the general business of the insurer; and
(ii)
certify that the valuation was done in accordance with any applicable requirement stipulated under the Act or a direction issued under the Act.