Insurance Regulations, 2006 · s 33

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s 33

(1)

Any reference in these Regulations to a statutory valuation of an insurer 1 s liabilities shall be read as a reference to a valuation made for the purposes of section 60 of the Order.

(2)

Where by these Regulations the liabilities of an insurer in respect of a

Brunei Darussalam policy belonging to the insurer Is life business are required to be valued on a specified basis as for a statutory valuation~ the liabilities shall be valued on that basis with the like deduction (if any) for any reinsurance of those liabilities as would be made on a statutory valuation.

(3)

For the purpose of sub-regulation (2), the total deduction that may be made against a reinsurer's deposit in respect of the reinsurances secured thereby shall (if the case requires) be apportioned rateably between those reinsurances according to the value of the liabilities reinsured.