Instructions for completion of Form 55

1. Where the net assets held by the insurer for all the internal linked funds sharing the same underlying assets for pricing purposes exceed the lesser of £100m and 10% of the total internal linked funds (line 59 of Form 45), with the exception of share index tracker funds, any such internal linked fund which is in one of the categories listed in 2 must be reported in Form 55. Where a life fund and a pension fund share the same underlying assets, the fund must be reported for the main life series and the main pension series.

2. The fund types for column 2 are as follows:

01
 life   stock market managed fund
02
 life   balanced managed fund
03
 life   defensive managed fund
04
 life   other managed fund
05
 life   UK equity
06
 life   overseas equity
07
 life   property
11
 individual pension   stock market managed fund
12
 individual pension   balanced managed fund
13
 individual pension   defensive managed fund
14
 individual pension   other managed fund
15
 individual pension   UK equity
16
 individual pension   overseas equity
17
 individual pension   property
21
 group managed fund   stock market managed fund
22
 group managed fund   balanced managed fund
23
 group managed fund 
 defensive managed fund
24
 group managed fund   other managed fund
25
 group managed fund   UK equity
26
 group managed fund   overseas equity
27
 group managed fund   property.

3. The amount in column 3 is the total net assets attributable to the fund.

4. Column 4 is the name of the largest series (by unit liability).

5. Column 5 is the annual unit management charge shown to 2 decimal places for the largest series, e.g. 0.75 for an annual charge of 0.75%.

6. Columns 6 and 7 are the prices used to value the unit liabilities. Where there has been a transfer of business during the financial year, the price shown in column 6 is from the previous insurer.

7. Column 8 is 100 x (column 7 – column 6) / column 6 shown to 2 decimal places, e.g. 20.00 for a 20% increase in unit price during the year.

List of Supplementary Notes

This is a list of all current supplementary notes which you may be required to supply with your return

FSA Resource Sources

GENPRU - the general prudential requirements for regulated firms.

INSPRU - the specialised sourcebook for insurers

IPRU(INS) - [Version 20130610] the residual prudential and notification requirement for insurers.

E&Y FSA Returns Guide

Ernst & Young's Insurance Returns guide - updated for 2012/3 - covers virtually everything you will need to know about completing your PRA return