Returns on actuarial investigation of life business
6.—(1)  For the purposes of section 37(1) of the Act, a direct life insurer shall lodge for each accounting period —
(a)in respect of the actuarial investigation of its life business, and separately for each insurance fund established and maintained under the Act —
(i)a statement in Form 14, giving an abstract of valuation results in respect of its life business; and
(ii)a statement in Form 16, giving an analysis of experience of the insurance fund;
[S 243/2013 wef 18/04/2013]
(b)in respect of the actuarial investigation of participating fund allocations to policies and to the surplus account in accordance with section 17(6) of the Act —
(i)a statement in Form 18, giving particulars of participating fund allocations; and
(ii)an actuary’s certificate in Form 19, which shall state the actuary’s opinion on the allocations to participating policies and to the surplus account; and
[S 243/2013 wef 18/04/2013]
(c)an actuary’s report on the actuarial investigation of policy liabilities relating to its life business, which shall be signed by the actuary.
[S 243/2013 wef 18/04/2013]
(2)  For the purposes of section 37(1) of the Act, a life reinsurer shall lodge for each accounting period —
(a)in respect of the actuarial investigation of its life business, and separately for each insurance fund established and maintained under the Act —
(i)a statement in Form 15, giving an abstract of valuation results in respect of its life business; and
(ii)a statement in Form 16, giving an analysis of experience of the insurance fund; and
[S 243/2013 wef 18/04/2013]
(b)an actuary’s report on the actuarial investigation of policy liabilities relating to its life business, which shall be signed by the actuary.
[S 243/2013 wef 18/04/2013]
(3)  [Deleted by S 243/2013 wef 18/04/2013]
(4)  For the purposes of section 37(1) of the Act, an insurer licensed to carry on life business shall lodge for each accounting period, in respect of the actuarial investigation of policy liabilities relating to its life business —
(a)an abstract of the actuary’s report on policy liabilities relating to its life business, which shall include the matters specified in paragraph 1 of the Second Schedule; and (b) an actuary’s certificate in Form 17, which shall —
(b)an actuary’s certificate in Form 17, which shall —
(i)state the actuary’s opinion on policy liabilities relating to the life 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.
[S 243/2013 wef 18/04/2013]