CIB 2.3.2 Annual Regulatory Return

(1) A Captive Insurer must, at the end of each reporting period, prepare an annual Regulatory Return.
(2) The annual Regulatory Return must comprise the statements set out in this Rule 2.3, together with any Supplementary Notes pertaining to those forms, and including a Statement by Directors.
(3) The form and content of the statements comprising the annual Regulatory Return (including the Statement by Directors) is set out in this Rule 2.3 and the Electronic Prudential Reporting System (EPRS) of the Regulator.
(4) Where a Captive Insurer includes in its annual Regulatory Return a value for General Insurance Liabilities or for assets associated with those liabilities which is inconsistent with the amount referred to in Rule 7.2.3(b), the Captive Insurer must notify the Regulator in writing of:
(a) the reasons for not including in its annual Regulatory Return the value of General Insurance Liabilities or of associated assets as reported by the Actuary; and
(b) details of the alternative assumptions and methodologies used for determining the value of General Insurance Liabilities or of associated assets.
(5) Where a Captive Insurer includes in its annual Regulatory Return a value for Long-Term Insurance liabilities which is inconsistent with the amount referred to in Rule 7.3.6(e), the Captive Insurer must notify the Regulator in writing of;
(a) the reasons for not including in its annual Regulatory Return the value of Long-Term Insurance liabilities as reported by the Actuary; and
(b) details of the alternative assumptions and methods used by the Captive Insurer for determining the value of Long-Term Insurance liabilities.
Amended on (3 February, 2020).