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13. Prudential returns
FINANCIAL SERVICES LEGISLATION
RULES
INSURANCE AND REINSURANCE PRUDENTIAL RULES
SCHEDULE 2 Categories of Long-Term Insurance
SCHEDULE 6. Prudential returns by Insurers
WORKING SCHEDULE 1 - List of Defined Terms for PINS and associated rulebooks
Entire Act

13. Prudential returns

13.1.1. Obligation to prepare prudential returns

(1) An Insurer must prepare and submit to the AFSA the annual, biannual and quarterly prudential returns set out in Schedule 6 (Prudential returns by Insurers).

(2) The AFSA may, by notice given to an AIFC Insurer require the AIFC Insurer to prepare additional prudential returns.

13.1.2. Deadlines for provision of returns

(1) An Insurer must give an annual prudential return to the AFSA within 4 months after the day the relevant financial year of the Insurer ends.

(2) An Insurer must give a biannual prudential return to the AFSA within 1 month after the day the relevant standard biannual period ends.

(3) An Insurer must give a quarterly prudential return to the AFSA within 1 month after the day the relevant standard quarter ends.

(4) In this rule:

  • (a) standard biannual period means the 6-month period ending on 30 June or 31 December; and
  • (b) standard quarter means the 3-month period ending on 31 March, 30 June, 30 September or 31 December.

13.1.3. External audit opinion to accompany

When an Insurer submits its annual prudential returns to the AFSA, it must also provide an external audit opinion to accompany those prudential returns.