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(1) (other than in COBS) an investigation to which IPRU-INS rule 9.4 applies.(2) (in COBS and SUP 4) for a Solvency II firm, an investigation having regard to generally accepted actuarial practice, carried out at least once in every 12-month period with advice, as appropriate, from the persons holding the with-profits actuary function and the actuarial function.
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means an investigation to which IPRU(INS) rule 9.4 of the PRA Handbook as at 31 December 2015 applies pursuant to Non-Solvency II Firms – Transitional Measures 3.
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(in the PRA Handbook) PRA controlled function CF12 in the table of PRA controlled functions, described more fully in:(a) for a non-directive insurer, SUP 10B.8.1R(1) and Non-Solvency II Firms - Actuarial Requirements 2.1(1) of the PRA Rulebook;
(b) for a UK Solvency II firm, the Society, a managing agent and a third country branch undertaking, SUP 10B.8.1R(2) and Conditions Governing Business 6.1 of the PRA Rulebook. -
the date as at which the mathematical reserves are calculated.
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the Institute andFaculty of Actuaries.
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(in the context of the rules in INSPRU 1.1 concerning the calculation of the general insurance capital requirement), health insurance which meets all the conditions set out in INSPRU 1.1.72 R .
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means the date as which the mathematical reserves are calculated.
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means health insurance which meets all the conditions set out in Insurance Company – Capital Resources Requirements 13.1.
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means the Institute and Faculty of Actuaries.