Instructions for completion of Form 13
1. Form 13 must be completed for the total long-term insurance business assets of the insurer or branch and for each fund or group of funds for which separate assets are appropriated. The words "total long-term insurance business assets" or the name of the fund must be shown against the heading "Category of assets". The corresponding code box must contain "10" for the total assets and, in the case of separate funds, code numbers allocated sequentially beginning with code "11".
2. Form 13 must be completed in respect of the total assets of the insurer or branch other than any long-term insurance business assets. The words "total other than long-term insurance business assets" must be shown against the heading "Category of assets", and the corresponding code box must contain "1".
3. (a) In the case of the United Kingdom branch return of an external insurer (other than a non-EEA insurer whose insurance business in the United Kingdom is restricted to reinsurance or an insurer whose head office is in any EEA State except the United Kingdom whose insurance business in the EEA is restricted to reinsurance) Form 13 must be completed for the following categories of assets -
Category Code - other than long-term insurance
business assetsCode - long-term insurance business assets
In the case of a non-EEA insurer, assets deposited under INSPRU 1.5.54R
2
6
Assets maintained in the United Kingdom
3
7
Assets maintained in the United Kingdom and the other EEA States
4
8
(b) In the case of an EEA branch return of a UK-deposit insurer which has made a deposit under INSPRU 1.5.54R, Form 13 must be completed for the following categories of assets -
Category Code – other than long-term insurance
business assetsCode – long-term insurance business assets
Assets deposited under INSPRU 1.5.54R
2
6
Assets maintained in the United Kingdom and the other EEA States
4
8
Assets maintained in the United Kingdom and the EEA States where insurance business is carried on
5
9
4. In lines 11 to 86 -
(a) for the purpose of classifying (but not valuing) assets, headings and descriptions used above, wherever they also occur in the balance sheet format in Schedule 9A to the Companies Act 1985, where applicable, otherwise Schedule 3 to the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410), must have the same meaning as in those Schedules,
(b) dependants of the firm must be valued in accordance with GENPRU 1.3.47R,
(c) a related undertaking that is not a dependant of the firm must be valued in accordance with GENPRU 1.3.47R unless:
- It is an ancillary services undertaking which must be valued at zero;
- It is a related undertaking that is not a regulated related undertaking which must be valued in accordance with GENPRU 1.3.41R; or
- [deleted]
(d) other assets must be valued in accordance with rule 9.10,
(e) assets of any particular description must be shown after deduction of assets of that description which (for any reason) fall to be left out of account under INSPRU 2.1.22R(3)(a), (b), (c), (g) and (h). Negative amounts should not be shown at lines 11 to 86. If a deduction is more than the value of the assets to which it relates, the excess element of the deduction should be shown at line 87; and
(f) deductions in respect of market risk and counterparty risk are to be shown in line 87, to the extent that (e) does not require them to be recognised in other lines.
5. The aggregate value of those investments which are:
(a) unlisted investments falling within any of lines 41, 42, 46 or 48 which have been valued in accordance with the rules in GENPRU 1.3;
(b) listed investments falling within any of lines 41, 42, 46 or 48 which have been valued in accordance with the rules in GENPRU 1.3 and which are not readily realisable;
(c) units or other beneficial interests in collective investment schemes that:
(i) are not schemes falling within the UCITS Directive;
(ii) are not authorised unit trust schemes or recognised schemes within the meaning of Part XVII of the Act;
(iii) do not employ derivative contracts unless they meet the criteria in INSPRU 3.2.5R;
(iv) do not employ contracts or assets having the effect of derivative contracts unless they have the effect of derivative contracts that meet the criteria in INSPRU 3.2.5R; and
(v) do not include assets other than admissible assets among their property; or
(d) reversionary interests or remainders in property other than land or buildings,
must be stated by way of a supplementary note (code 1301 for other than long-term insurance business and code 1308 for long-term insurance business) to this Form, together with a description of such investments.
6. The aggregate value of those investments falling within lines 46 or 48 which are hybrid securities are to be stated by way of a supplementary note (code 1302 for other than long-term insurance business and code 1309 for long-term insurance business) to this Form.
7. Amounts in respect of salvage or subrogation included above other than at line 73 are to be stated by way of a supplementary note (code 1303) to this Form.
8. The entry at line 85 must be gross of any related reinsurance commission.
9. The amount to be shown in line 93 must equal the total of the relevant proportions in accordance with GENPRU 1.3.49R and GENPRU 1.3.50R of the individual capital resources requirements of the regulated related undertakings.
10. The amount to be shown in line 94 must equal the ineligible surplus capital and any restricted assets of any regulated related undertaking that is an insurance undertaking that are deducted in accordance with GENPRU 1.3.47R (3)(b).
11. Lines 60 to 63 and 85 relate only to general insurance business. The amount in lines 60-62 recoverable from Insurance Special Purpose Vehicles must be disclosed in a supplementary note (code 1320).
12. Lines 60 to 63 and 85 must be left blank for “Category of assets” code “2”.
13. Since the technical provisions for claims outstanding shown in Form 15 may only be discounted or reduced to take account of investment income in limited circumstances, the amount shown at line 12 of Form 15 may need to be increased (see instruction 4 to Form 15). In such cases, the reinsurers' share shown at line 61 must be adjusted to be consistent with the amount shown in line 12.
14. The amount of any tangible leased asset included at line 80 must be disclosed by way of a supplementary note (code 1314 for other than long-term insurance business and code 1316 for long-term insurance business) to this Form.
15. Particulars of any other assets included at line 83 must be stated by way of a supplementary note (code 1315 for other than long-term insurance business and code 1317 for long-term insurance business) to this Form.
16. Lines 99-102 must be completed in accordance with the insurance account rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting if the firm is required to produce such accounts. Otherwise these lines must be left blank. Line 100 includes the discounting adjustment for the reinsurers' share of claims outstanding – see instruction 4 of Form 15. Details of amounts in line 101 must be disclosed in a supplementary note (code 1318). For years ending on or before 30 December 2008, the previous year figure for line 93 must be left blank and that for line 101 must equal line 100 from the previous return.
