Executive Order On The Responsible Actuary

Original Language Title: Bekendtgørelse om ansvarshavende aktuar

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Read the untranslated law here: https://www.retsinformation.dk/Forms/R0710.aspx?id=114732

Overview (table of contents) Annex 1 The full text of the Executive order on the responsible actuary

Under section 108, paragraph 7, and § 373, paragraph 4, of the financial business Act, see. lovbekendtgørelse nr. 1413 by 10. December 2007, fixed:

The scope of the

§ 1. This Ordinance shall apply to life insurance companies and lateral pension funds, which are allowed to operate insurance business and insurance companies authorized to operate in the form of reinsurance of life insurance pursuant to section 11 of the financial business Act.

(2). The undertakings referred to in paragraph 1 shall be referred to hereinafter companies.

The responsible actuary

§ 2. The responsible actuary shall be employed in the company. Appointment and dismissal of the liability can only be carried out by the Board of Directors actuary ended up doing. The post of responsible actuary cannot be reconciled with the post as a member of the Executive Board or the Board of Directors of the company.

§ 3. The responsible actuary must have passed insurance scientific master's degree from a Danish University, see. However, § 4.

(2). The responsible actuary must after finishing the exam have attended practical actuarial work in one of the companies referred to in article 1 or arbejdsmarkedets tillægspension for at least 5 years within the last 10 years. At least 1 of the 5 years must be in close cooperation with a responsible actuary at a life insurance company or a transverse pension fund. The responsible actuary must, as a minimum, have obtained a thorough knowledge of the preparation of reviews, bonus systems, insurance technical statements, including calculation of solvency requirements, estimation of reserves and the preparation of the annual report to the FSA.

§ 4. The Board of Directors of the company may employ an actuary with exam from another country as responsible actuary whose training includes exams at graduate level in life insurance mathematics and risk analysis and are supplemented with courses in Danish supervisory law and insurance contract law.

(2). The Board of Directors may appoint a person as the responsible actuary with related training as cand. Scient., MSC. State., MSC. Scient. Cand.oecon. or an equivalent foreign training, if the training is complemented by courses in Danish supervisory law and insurance contract law as well as exams at graduate level in life insurance mathematics and risk analysis.

§ 5. When the Board has hired a responsible actuary, this must be reported to the FSA within 14 days after the appointment.

(2). The Board shall by notification, in accordance with article 3. (1) a declaration that the responsible actuary is in compliance with the requirements under section 3.

(3). When the responsible actuary dismissed or resigns as a responsible actuary shall the Board of Directors and the responsible actuary no later than 1 month after the termination of employment to submit each report to the FSA about the background to this.

§ 6. The responsible actuary shall have access to all information, as this exercise of profession, consider necessary including Board Protocol. Aktuaren must give the Danish financial supervisory authority the information necessary for the assessment of the financial position of the company.

(2). The Board of Directors shall draw up a functional description of the responsible actuary. Functional description should contain an overall description of the tasks to be performed in the capacity of the responsible actuary. Functional description can also contain a description of other tasks, as the responsible actuary performs as part of the operation of the company.

(3). Function description must be in companies respectively, groups, where other employees performing tasks for the responsible actuary, parent indicate the distribution of tasks. Functional description should also contain the broad outlines of the person in charge of the aktuars delegation of tasks, including for the responsible aktuars the subsequent verification of the delegated tasks.

The person in charge of the aktuars reporting to the Board of Directors

§ 7. In connection with the adoption of the annual report of the Board of Directors shall be the responsible actuary draw up a written report to the Board of Directors.

(2). Actuarial report shall contain all the essential conclusions of relevance for financial reporting from aktuarens report to the FSA, see. § 8.

(3). Actuarial report shall contain a list of the year carried out reviews and comments.

(4). It must be stated whether the report of actuary responsible actuary has received all the information that is requested.

(5). If the person in charge of the aktuars control implies that the annual report in accordance with the person's perception does not give a true and fair view of the company's actuarial conditions, actuarial report presents separate disclosure thereon.

(6). Actuarial report must be signed by the responsible actuary and presented to and signed by the entire Board of Directors.

(7). No later than 10 days after the company's general Assembly has approved the annual report, copy of the actuarial report be received in FSA.

(8). The Board of Directors must be familiar with all other significant conclusions in the report than in the aktuarens referred to in paragraph 2, no later than at the same time as the report submitted to the FSA.

The person in charge of the aktuars report

§ 8. The responsible actuary shall annually submit a report to the FSA.

(2). The report must be the Danish financial supervisory authority not later than 1 month after the company's general Assembly has approved the annual report for the year, the report relates to.

(3). The Danish financial supervisory authority may, on application, grant a derogation from the time limit laid down in paragraph 2.

§ 9. The report consists of 13 sections, see. Annex 1. Sections and paragraphs of the report must have the same numbering as in annex 1.

(2). The report must have a table of contents with page statement of the points in the report.

(3). The responsible actuary shall assess which sections or points that are relevant to the company concerned. Reasons for lack of relevance should be entered under the relevant sections or paragraphs.

(4). Find the responsible actuary, that under each section are additional conditions that have to be referred to the responsible actuary is bound to include these, possibly under the independent headlines in section 13.

(5). The responsible actuary must sign the report.

§ 10. If the reports also should act as actuarial reports, see. section 7, paragraph 1 shall be supplemented by a





1) point 1.8. that will contain a record of the year carried out reviews and comments, see. § 7 (3),

2) point 1.9. that will contain information on whether aktuaren has received all of the information requested, without prejudice. section 7, paragraph 4, and, where appropriate,

3) point 1.10. that will contain separate information about the annual report after aktuarens opinion, do not give a true and fair view of the company's actuarial conditions if aktuarens control implies that this after the person's perception is the case, see. section 7, paragraph 5.





(2). In addition, the reports must be presented to and signed by the Board of Directors, see. section 7, paragraph 6.

(3). The report must in this case, no later than 10 days after the general meeting has approved the annual report for the year have been received in the FSA.

Penal provisions and entry into force

§ 11. Intentional or grossly negligent violation of §§ 2-10 is punished with a fine, unless a higher penalty is inflicted pursuant to section 373 of the financial business Act.

§ 12. The notice shall enter into force on the 15. February 2008. Annex 1 shall, however, only apply to reports submitted to the FSA in 2009.

(2). The 15. February 2008 repealed Executive Order No. 848 of 8. September 2005 about responsible actuary.
The Danish financial supervisory authority, the 8. February 2008 Henrik Bjerre-Nielsen/Per Ploug man Bærtelsen Annex 1

General information

1.1. the Aktuaren shall brief express the conditions in which aktuaren finds is particularly important, and which are mentioned in the other sections. Set out below for essential launched initiatives and significant changed assumptions and assessment principles and its importance for the company's future development.

1.2. Aktuaren should describe the broad groups of insurance company's total stock consists of. A corporate groups of insurance must, as a minimum, be divided according to classes of insurance, however, group insurance and annuities with no entitlement to bonus described independently. Aktuaren for each group of insurance must disclose




a) class,

b) number of insurances,

c) premium size

(d)), the amount of benefits paid and

e) size of the overall retrospective provision.



Aktuaren must also state what subscription basis used for each group of insurers. This information must at least contain the corresponding drawing interest.

1.3. If the audit report contains specific comments of actuarial nature, aktuaren inform and comment on these observations. Aktuaren must explain what measures including observations may have given rise to.

1.4. Aktuaren must draw up a comprehensive actuarial analysis of the year's overall result, according to the financial statements corresponding to schema a. on the basis of the information in the schema to aktuaren comment





a) development trends,

b) movements in shareholders ' equity,

c) movements in special bonus provisions and

d) movements in collective bonus potential.



1.5. Aktuaren shall establish a comprehensive inventory of the year margin of each of the basic elements in interest, risk and costs corresponding to the schema, the schema must be completed for the b. current fiscal year and the four previous fiscal year. Aktuaren to comment on the contents of the schema, including development trends.

1.6. Schedule B shall be supplemented by a risk analysis for each drawing based on risk factors for death and disability, using stocks ' positive death risk ' (the company serves on that the policyholder live long) and ' negative death risk ' (the company loses on that customer live long).

1.7. If the company is in an operating plan period, total or for groups of insurance, aktuaren describe how the business plan followed.

2. Insurance policies covered by the kontributions principle

2.1. Aktuaren must specify which groups of insurance covered by the Executive order on the kontributions principle.

2.2. the Aktuaren shall indicate the distribution of the realized outcome between equity and policyholders.

2.3. Aktuaren must explain that the equity portion of the realized outcome corresponds to the company's reported equity business rules.

2.4. Have own funds due to an inadequately realized profit in the year or in previous years received a smaller portion of the realized outcome, than the principles so requires, and the company is entitled to redress on this in the coming year's distribution, as referred to in section 111 of the Ordinance on financial reports for insurance companies and lateral pension funds, must aktuaren to account for the evolution of the amount , which in the future could be allocated to shareholders ' equity, in addition to what the principles would otherwise give rise to. If aktuaren considers that it is relevant, explain actuarial for trends for each group of insurers.




a) If the amount is increased, the aktuaren account for the increase.

b) If the amount is reduced, aktuaren tell us that there has been no reallocation of considerable economic size between insurances, in addition to what follows of the risk coverage included in insurance policies.



If aktuaren considers that it is relevant, explain aktuaren for how it evolves for each group of insurers.

2.5. Aktuaren shall indicate the distribution of policyholders ' share of this year's realized result between collective bonus potential, attributed to the bonus and special bonus provisions.

2.6. Aktuaren must explain that there has been no reallocation of considerable economic size between policyholders, in addition to what follows of risk coverage.

2.7. To illustrate the point 2.6. aktuaren must, at a minimum, fill in




(a)) Schedule C for each base interest rate 1)

(b)) Schedule D for each risk intensity 2) divided into private schemes and company schemes, and

c) Schedule E for each cost group 3) divided into private schemes and company schemes.



Schedule C, D and E must be completed for the current fiscal year and the four previous fiscal year. It is not possible to fill the last four columns for each scheme base interest rate, each risk intensity and each cost group, it is sufficient to indicate the total value. If different groups of insurance are using the same drawing basis, it is possible to illustrate each group separately.

If a single item for a group of policyholders who no longer has the necessary safety margin and therefore is expected to generate deficits, aktuaren explain how the deficit can be covered, and whether that made something to mark the occasion.

2.8. Aktuaren must provide information on the adequacy and appropriateness of repurchase credits and transfer rules, that does not follow from article 20, paragraph 1, no. 7 of the law on financial business. Aktuaren shall indicate the actual expenditure and income by repurchase and transfers that do not follow from article 20, paragraph 1, no. 7.

2.9. If a negative contribution for realized profit or loss cannot be covered by collective bonus potential from the assurances that the negative contribution comes from, must aktuaren to account for the possible application of bonus potential at paid-up policy benefits.

2.10. Aktuaren explains about bonus potential at paid-up policy benefits that were previously used to cover insurance negative contribution to the realized outcome according to § 7 (2) of the Ordinance on the kontributions principle, has been rebuilt. Aktuaren to including an account of how the reconstruction is carried out.

3. Sickness and accident insurance company (class 1 & 2)

3.1. Aktuaren must explain the reasons for revising and cost development of products designed in class 1 and 2, including the development of cost and compensation percentage 4) for the last five years. Aktuaren must explain the reason for and the importance of this development, as well as whether the company might have done something in this occasion.

3.2. Aktuaren must disclose the extent of the sickness and accident insurance, which is subject to a discount system, as well as account for the company's discount policy 5) for sickness and accident company. Aktuaren must including information about for which items are given a discount.

3.3. Aktuaren must explain how claims are assessed.

3.4. Aktuaren will be conducting an analysis of drainage results similar to Schedule F (two forms).

3.5. Aktuaren must explain about year-end profits arising from life assurance undertaking the life assured to come good in the same way as if the company only carried out life assurance.

3.6. Aktuaren must give an account of compliance that the solvency requirement imposed on the sickness and accident insurance company, not carried by the life insurance company.

3.7. Aktuaren must explain whether the respective interests, moreover, is ensured by its insured within both the life assurance company as sickness and accident insurance company.

4. Insurance in class III

4.1. the Aktuaren shall describe the products designed in class III. This includes, among other things, a description of guarantees on interest rates, guarantees on the biometric risks and payment guarantee, including whether the company has undertaken an investment risk.

4.2. the Aktuaren shall indicate the scope of class III-insurance, there is bonus eligible. If the company has eligible class III-insurance except for the notice on the kontributions principle, describes the aktuaren method for the bonus generally uncontested.

4.3. If the company has eligible class III-insurance, aktuaren describe the size of the provision for bonuses and year-end movements therein, including which elements are given bonus. For class III-insurance covered by the Executive order on the kontributions principle aktuaren addition to account for consistency with the company's equity return rule.

4.4. Aktuaren should describe and comment on the cost structure, including the complete schedule G. If the item is not covered by the bonus calculation, please indicate this in the comments, and columns with 2. ordinal number is not filled in.

4.5. Aktuaren must provide information on the adequacy and appropriateness of repurchase credits and transfer rules, that does not follow from article 20, paragraph 1, no. 7 of the law on financial business. Aktuaren shall indicate the actual expenditure and income by repurchase and transfers that do not follow from article 20, paragraph 1, no. 7.

4.6. Aktuaren must carry out a risk analysis of the biometric factors in the relevant groups of insurance, and the figures in table (D) is populated to the extent it is relevant.

4.7. If the volume or timing is a difference between an insured person and the company's actual investment, investment choices must aktuaren tell us what principles the company has to minimize exposure. Aktuaren explains how the company manages risk.

5. Group insurance

5.1. Aktuaren must explain the reasons for revising and cost development of products designed as group insurance. Aktuaren must explain the reason for and the importance of this development, including whether the company might have done something in this occasion.

5.2. Aktuaren must disclose the extent of group insurance, there is bonus eligible.

5.3. where the company has eligible group contracts must aktuaren communicate, for which elements are given bonus. For group contracts covered by the Executive order on aktuaren must also account for consistency with the company's equity return rule.

5.4. If the group insurance are not covered by the kontributions principle, must aktuaren prepare analyses of costs, interest and risk of relevant groups of insurance, and the figures in table (C), (D) and (E) to be completed, in so far as it is relevant. If the assurances are not eligible, must be disclosed under commentaries, and columns with 2. ordinal number is not filled in.

5.5. Aktuaren to comment on developments in the replacement rate 6) for the last five years.

6. Other products 7)

6.1. Aktuaren should outline what other products the company has.

6.2. Aktuaren shall indicate the year's result on the various products, as well as the use of the profit for the year.

6.3. Schedule B or relevant parts thereof shall be completed.


6.4. Aktuaren must provide information on the adequacy and appropriateness of repurchase credits and transfer rules, that does not follow from article 20, paragraph 1, no. 7 of the law on financial business. Aktuaren shall indicate the actual expenditure and income by repurchase and transfers that do not follow from article 20, paragraph 1, no. 7.

6.5. in the case of the other products, there is bonus eligible 8), aktuaren describe the method for bonus generally uncontested.

7. Indirect assurance

This section should only be completed if premiums for indirect insurance constitutes more than ½% of the total premium income or exceeds 5 million If the company falls under the de minimis, reported only the insurance company's share of the total premium revenue and premium income of indirect insurance company.

7.1. the Aktuaren shall give an account of the year's result of the indirect insurance company.

7.2. Aktuaren shall indicate the amount of the provision for unearned premiums on market value base.

7.3. Aktuaren assessing insurance stock development, designated on insurances reinsured on gross basis, on a risk basis and on non-proportional basis. Significant fluctuations in each year to be commented on. It shall also assess whether there are trends in development.

7.4. Aktuaren shall indicate the manner in which any administrative provision relating to the indirect insurance lays down. Aktuaren should compare the size with the amount of the costs that it is intended to cover.

7.5. Aktuaren to calculate the relationship between, on the one hand, claims costs and costs and, on the other hand, premiums. Aktuaren should comment on the evolution of this relationship.

7.6. Aktuaren shall carry out assessment of the risk factors of death and disability and to compare these with the assumed risk elements.

7.7. Aktuaren to compare this year's returns with the interest rate assumptions used in the calculation of premiums and technical provisions.

7.8. Aktuaren to comment on developing trends in costs, interest and risk elements.

7.9. Aktuaren must explain the extent to which retrocessionsarrangementer for the indirect insurance business, including what types of retrocession, the company has established.

8. The company's solidity

8.1. for the purposes of the company's latest figures should aktuaren analyse the immediate consequences for the size of its gross life assurance provision (broken down by respectively guaranteed benefits, bonus potential for future prizes and bonus potential of paid-up policy performance), special bonus provision/member accounts and collective bonus potential, equity, basic capital and solvency margin if the yellow risk scenario (very negative market development) occurs. For the lighting of the company's future soundness must aktuaren forward count as well as the yellow figures risk scenario in the number of years used in the determination of any bonus forecasts, however, at least 10 years 9). The assumptions taken into account in these projections, must be equal conditions for the company's budgets and any bonus forecasts. On that basis, must fill out form Aktuaren H.

8.2. Aktuaren assessing the company's bonus dividend policy and investment profile, on the basis of the analysis in section 8.1. Aktuaren must indicate whether calculations in section 8.1. has given the company an opportunity to change (or thinking about changing) bonus policy and investment profile.

8.3. Aktuaren must specify the interest rate risk on assets and liabilities calculated using an interest rate change similar to that used in the calculation of the yellow traffic lights-scenario. On the liabilities side, changes in the distribution between guaranteed benefits, bonus potentials on paid-up policy benefits plus bonus potentials on future premiums shall be indicated. By mismatch between assets and liabilities to interest rate risk on aktuaren inform about the company's considerations in the rise, including what actions the company might have made to match the interest rate risk better.

8.4. Aktuaren must briefly outline how the company manages the relationship between the assets and liabilities as well as the company's risk tolerance. Aktuaren must make its assessment thereof. Aktuaren must also state what aktuaren is doing to ensure that the aktuaren meet section 75, paragraph 3 of the financial business Act 10).

9. Technical provisions

9.1. Aktuaren must draw up an overview of the last 5 years of sizes of the accounting entries mathematical provisions, guaranteed benefits, bonus potential of future premiums, bonus potential at paid-up policy benefits, provisions for unit-linked contracts and collective bonus potential. Aktuaren must also draw up an overview of the last 5 years the size of the special bonus provisions attached individually to insurance and special bonus provisions linked collectively to insurance policies. The inventories must be similar to the example in the form of for each of the in point 1.2. listed groups of insurance.

9.2. Aktuaren must explain that the probability that the insurance transliterated into paid-up policy or repurchased in connection with the calculation of the value of the retrospective provisions of the basic regulation. Annex 1, point 1. 62 of the ordonnance on financial reports for insurance companies and lateral pension funds, similar to the company's experience.

9.3. Aktuaren should analyze the parameters used for risk elements in determining life-assurance provisions. Aktuaren must




a) briefly explain the assumptions for calculation of the best estimate of mortality. Aktuaren must explain that the best estimate of the mortality rate is determined in accordance with article 66, paragraph 4, nr. 1, of the Decree on the financial reports for insurance companies and lateral pension funds,

b) separately describe the used assumptions for expected future lifetime,

c) compare the residual life of the used lethal by age 30, 40, 50, 60, 70, 80 and 90 with residual lifetimes measured by Statistics Denmark. Residual lifetimes must be measured by gender or non-gender-segregated according to the used basis. If the basis is non-gender-segregated, used the same distribution between men and women by the inventory of residual lifetimes from statistics, which are used in the foundations, and

d) briefly explain the conditions for the calculation of the best estimate of the disability and explain that the best estimate of the invalidity is established in accordance with article 66, paragraph 4, nr. 1, of the Decree on the financial reports for insurance companies and lateral pension funds.



9.4. Aktuaren must explain how life-assurance provisions and provisions for unit-linked contracts are calculated and controlled.

9.5. Aktuaren must explain about the data base used for the calculation of the technical provisions, have the necessary quality, including whether it includes all insurance.

10. Outward reinsurance

10.1. Aktuaren should describe the company's reinsurance principles, including the company's rationale for the chosen principles and aktuarens evaluation thereof.

10.2. Aktuaren must inform and comment on this year's result of reinsurance.

10.3. Aktuaren shall inform the expectations for the future, including assess whether possession less/more reinsurance, that conditions remain reassuring.

11. Concrete orders, etc. from the Danish financial supervisory authority

11.1. If the FSA has given the company specific injunctive relief or similar on the follow-up through the aktuarens account, aktuaren separate account for this purpose.

12. The actuarial content in the company's activities and material

12.1. the Aktuaren shall give an account of how the aktuaren have carried out supervisory obligation pursuant to section 108, paragraph 4, of the financial business Act.

13. Other conditions

13.1. Here can indicate conditions that is not attributable to the above points or sections in the person in charge of the aktuars report, incidentally, but as aktuaren deems it appropriate that the FSA is aware of.










Schedule A (Actuarial statement of profit or loss) 11) us.





År





År - 1





År - 2





År - 3





År – 4







Renteresultat12)



 

 

 

 

 





Ændring i akkumuleret

Værdiregulering13)



 

 

 

 

 





Risikoresultat14)



 

 

 

 

 





Omkostningsresultat15)



 

 

 

 

 





Resultat af afgiven forretning



 

 

 

 

 





Result of sickness and accident insurance Tax



 

 

 

 

 






Profit before provisions Herein excluding cost of cash paid out bonuses and attributed to bonus assigned to collectively bonuspotentiale16) Assigned to the special bonus provision/Member accounts assigned to equity Distributed dividends



 

 

 

 

 







11) the table may be extended as necessary, so it comprehensively explains this year's result. The schema must contain as a minimum the illustrated information.

12) Interest result will typically be equal to the income from investment assets incl. unrealized gains, net of tax, investment costs and PAL tilskreven interest to gross life assurance provision.

13) revaluation effects of section 100 (1) (8). 2 of the Ordinance on financial reports for life insurance companies and lateral pension funds.

14) Risk result will typically be equal to the risk result from financial statement note to change in gross life assurance provision, with possible correction for change in outstanding claims.

15) Cost the result will typically be equal to cost complements from the financial statement note to change in gross life assurance provision, net of acquisition and administrative costs.

16) expense attributed to the bonus is equal to the bonus, which is attributed to at the time of annual reporting, and included in the cost of the increase in the gross-assurance provisions, through the interest rate, risk and cost result.









 



 



 






Schedule B (this year's margins) 17) us.





1. ordinal subsidised interest rates for loans-

skrivning





2. the forces of subsidised interest rates for loans-

writing Actually

result

According to

rain-

Community Actually result deducted from 1. the forces of subsidised interest rates for loans-

writing Actually result minus 2. the forces of subsidised interest rates for loans-

skrivning







Rente





 





 





 





 





 





 



1. order risk-

præmier





2. order risk-

prizes Actual risikoud-

gifter





1. order risk-

premiums deducted from actual risikoud-

gifter





2. order risk-

premiums deducted from actual risikoud-

gifter







Risiko





 





 





 





 





 





 



1. order cost

Nings-

præmier





2. order cost

Nings-

prizes Actual cost-

ninger





1. order cost

Nings-

premiums deducted from the actual costs of

ninger





2. order cost

Nings-

premiums deducted from the actual costs of

ninger







Omkost-

ings 17) Schema can be extended as needed, so it comprehensively explains the margins on each base element. The schema must contain as a minimum the illustrated information. Where appropriate, cost-and security surcharge is allocated between costs and risk. The amounts in the last column corresponds to the interest rate, risk and cost result from schedule a.









Schedule C (use of interest income)







Us $.





1.

the forces of subsidised interest rates for loans-

type-


ning19)





2.

ordinal

subsidised interest rates for loans-

type-


ning20) Actually interest-

income

21)





Ch-

challenge in

Cordless

Kaufmann

value-

regulated Infor-


ring22)





Æn-

challenge in

collective

tively bonus-

potential


tiale23)





Æn-

NIEs in the special bonus-

hen-

sættel-


ser24)





Ændring

in own-


kapital25) Because-

layer-

rente 1



 

 

 

 

 

 

 





Grund-

layer-

rente 2



 

 

 

 

 

 

 



 

 

 

 

 

 

 

 





I alt



 

 

 

 

 

 

 







18) Skemaet kan efter behov udvides, så det på udtømmende vis forklarer anvendelse af renteindtægten. The schema must contain as a minimum the illustrated information.

19) 1. -order interest rate generally uncontested, on behalf of the Group of insurance.

20) 2. -order interest rate generally uncontested, on behalf of the Group of insurance.

21) The actual interest income for group insurance

22) The share of the difference between the 2. -order interest rate generally uncontested, on behalf of the Group of insurance and the actual interest income for the Group of insurances, which are applied to or released from the revaluation. It is the change of the value adjustment resulting from the change in the specific interest rate parameter.

23) The proportion of the difference between the 2. -order interest rate generally uncontested, on behalf of the Group of insurance and the actual interest income for the Group of insurances, which are transferred to or paid for by collective bonus potential.

24) The share of the difference between the 2. -order interest rate generally uncontested, on behalf of the Group of insurance and the actual interest income for the Group of insurances, which are transferred to or paid by special bonus provisions.

25) The share of the difference between the 2. -order interest rate generally uncontested, on behalf of the Group of insurance and the actual interest income for the Group of insurances, which are transferred to or paid by shareholders ' equity.









Schedule D (application of risk result)







Us $.





1.

order risk-

pre-



mier27)





2.

order risk-

pre-


mier28)





Fak-

tual

risk-

expendi-


ter29)





Æn-

NIEs in Cordless

Kaufmann

value-

regulated Infor-


ring30) Modification

in collective

tively bo-

nuspo-


tentiale31) Modification

in special bonus-

accrue-


telser32)





Æn-

challenge in

own-

Kapi-


tal33)







Risiko-

INTEN-

site 1

(d.)

Private insurance-

ringer



 

 

 

 

 

 

 





Risiko-

INTEN-

site 1

(d.)

Company-

words-

ninger



 

 

 

 

 

 

 





Risiko-

INTEN-

site 2

(d.)

Private insurance-

calling



 

 

 

 

 

 

 





Risk-

INTEN-

site 2

(d.)

Company-

words-

ences



 

 

 

 

 

 

 





Risk-

INTEN-

site 1 (f-

ditet)

Private insurance-

calling



 

 

 

 

 

 

 





Risk-

INTEN-

site 1

(the f-

ditet)

Company-

words-

ences



 

 

 

 

 

 

 





Risk-

INTEN-

site 2

(the f-

ditet)

Private

insurance-

calling



 

 

 

 

 

 

 





Risk-

INTEN-

site 2

Company-

words-

ences



 

 

 

 

 

 

 





A total of



 

 

 

 

 

 

 







26) the table shows the minimum of all the company's divisions, groups of insurance covered by the Executive order on the kontributions principle. There is the possibility to extend the schema.

27) 1. order risk premiums for group insurance.

28) 2. order risk premiums for group insurance.

29) actual expenditure on behalf of the Group of risk insurance.

30) the proportion of the difference between the 2. order risk premiums for group insurance and the actual risk costs for the Group of insurances, which are applied to or released from the revaluation. It is the change of the value adjustment resulting from the change in specific risk parameter.

31) The proportion of the difference between the 2. order risk premiums for group insurance and the actual expenditure on behalf of the Group of risk insurance which is transferred to or paid for by collective bonus potential.

32) The proportion of the difference between the 2. order risk premiums for group insurance and the actual expenditure on behalf of the Group of risk insurance which is transferred or paid for by the special bonus provisions.

33) The proportion of the difference between the 2. order risk premiums for group insurance and the actual expenditure on behalf of the Group of risk insurance which is transferred to or paid by shareholders ' equity.







 



 



 





Schedule E (application of the cost-result)







Us $.





1.

ordinal

about-

diet-

Nings-

pre-


mier35)





2.

ordinal

about-

diet-

Nings-

pre-


mier36)





Fak-

tual

about-

diet-

Ning-


er37)





Antal

poli-


cer38)





Æn-

NIEs in Cordless

Mule-

right

value-

regulated Infor-


ring39)





Æn-

NIEs in the collective

tively

bonus-

potential


tiale40)





Æn-

challenge in

Special

bonus-

hen-

sættel-


ser41)





Æn-

challenge in

own-

Kapi-


tal42)







Om-

diet-

Nings-

Group

1

Private

insurance-

ringer



 

 

 

 

 

 

 

 





Om-

diet-

Nings-

Group

1

Company-

words-

ninger



 

 

 

 

 

 

 

 





Om-

diet-

Nings-

Group

2

Private

insurance-

ringer



 

 

 

 

 

 

 

 





Om-

diet-

Nings-

Group

2

Company-

words-

ninger



 

 

 

 

 

 

 

 





Ind-

round-

gebyr



 

 

 

 

 

 

 

 





Ind-

round-

percent

tillæg



 

 

 

 

 

 

 

 





Genkøb



 

 

 

 

 

 

 

 





Aktu-

elle



 

 

 

 

 

 

 

 





Andet



 

 

 

 

 

 

 

 





I alt



 

 

 

 

 

 

 

 







34) Skemaet viser minimumsopdelinger af alle selskabets grupper af forsikringer, der er omfattet af bekendtgørelse om kontributionsprincippet. There is the possibility to extend the schema.

35) 1. order cost premiums for group insurance.


36) 2. order cost premiums for group insurance

37) the actual cost of the insurance.

38) the number of policies in each group. If necessary, indicate the number of insured persons in each group.

39) The proportion of the difference between the 2. order cost premiums for group insurance and the actual costs for the Group of insurances, which are applied to or released from the revaluation. It is the change of the value adjustment resulting from the change in the specific cost parameter.

40) The share of the difference between the 2. order cost premiums for group insurance and the actual cost of the insurance is for or paid for by collective bonus potential

41) The proportion of the difference between the 2. order cost premiums for group insurance and the actual cost of the insurance, which is transferred to or paid by special bonus provisions.

42) The proportion of the difference between the 2. order cost premiums for group insurance and the actual cost of the insurance, which is transferred to or paid by shareholders ' equity.










Schedule F (Drain triangles) 43) Skadesår \ year of development

(DKK)





0





1





2





3





4







År – 4



 

 

 

 

 





År – 3



 

 

 

 

 





År – 2



 

 

 

 

 





År – 1



 

 

 

 

 





År



 

 

 

 

 







43) Form must be completed for a) paid substitutes, b) and (c)) for outstanding claims claims incurred (sum of a) and (b)))









Schedule G (cost structure) Cost-

type

(DKK)





1. code of conduct

cost-

Nings-

præmier





2. ordinal

cost-

Nings-

Actual premiums

cost-

ences





1. code of conduct

cost-

Nings-

prizes

deducted from

actual

cost-

ninger





2. ordinal

cost-

Nings-

premiums deducted from the actual costs of

ences Præmieomkost-

ences (%-share

of the ongoing

præmier)



 

 

 

 

 





Indskudsomkost-

ences (%-share

af indskud)



 

 

 

 

 





Depot/

storage-

omkostninger



 

 

 

 

 





Administrations-

cost: fee as

%-share of depot-fixed fee as

kronebeløb



 



 



 

 



 

 







 

 



 



 

 



 

 











Kurtage/handels-

costs (restructuring initiated by

kunden)



 

 

 

 

 





Fondsadministra-

tionsomkostninger



 

 

 

 

 

















 





Skema H (Resultaterne af følsomhedsanalyserne)







Kr.





År











Bruttolivsforsik-

ringshensættelser







GY





BP





BF44)





I alt











Særlige

bonus-

hensættel-

see/With-

lemskonti collective

tively bo-

nuspo-

tentiale





Egen-

Kapi-

tal





Basis-

Kapi-

tal





Sol-

friend's-

Mar-

gen







Årets

accounting-

tal



 

 

 

 

 

 

 

 

 

 





Gult

risk-

scenarie



 

 

 

 

 

 

 

 

 

 





Frem-

figured

accounting-

tal



 

 

 

 

 

 

 

 

 

 





Frem-

figured

risk-

scenario 44) BF is the size of the actual consumption of bonus potential at paid-up policy benefits.









Schema in (the size of the life-assurance provisions) us.





År





År - 1





År - 2





År - 3





År – 4







Livsforsikrings-

hensættelser



 

 

 

 

 





Garanterede

ydelser



 

 

 

 

 





Bonuspotentiale på

fremtidige præmier



 

 

 

 

 





Bonuspotentiale på

fripoliceydelser



 

 

 

 

 





Hensættelser

for unit-linked

contracts



 

 

 

 

 





Collective bonus-

potentiale



 

 

 

 

 





Individuelle

Special

bonus provisions



 

 

 

 

 






Collective special

bonus provisions



 

 

 

 

 





Official notes 1) If a system has multiple base interest rates, include it in the group with the original base interest rate.

2) By a risk means risk intensity intensity on the drawing base.

3) A cost group per cost rate. If a system burdened with a cost rate on a portion of the premium and another cost rate on another part of the premium shall be considered as one cost rate.

4) Defined in annex 1 to the Decree on financial reports for insurance companies and lateral pension funds.

5) by analogy with bonus policy for systems under also.

6) Defined in annex 1 to the Decree on financial reports for insurance conditions and lateral pension funds.

7) Contains the products that have not yet been addressed in the previous section, URf.eks. annuities with no right to the bonus.

8) Including also other products with discount.

9) Forward the Bill may be omitted for companies alone accounts gruppeliv. In this case, Captain aktuaren this.

10) section 75, paragraph 3 of the financial business Act: If a member of a financial company's administrative or management body, the external audit or the responsible actuary must assume that the financial company does not meet the capital requirement in accordance with §§ 124-126 or solvency requirements pursuant to section 124, paragraph 3, and section 125 (5), the person concerned must immediately notify this to the Danish FSA.