council direct decemb annual account consolid account insur undertak eec council european commun regard treati establish european econom commun articl thereof regard propos commiss cooper european parliament regard opinion econom social committe articl treati requir coordin extent safeguard protect interest member requir member state compani firm mean paragraph articl treati view make safeguard equival commun council direct eec juli base articl treati annual account type compani amend direct eec appli insur compani hereinaft refer insur undertak pend coordin view major import insur undertak commun coordin delai longer implement direct eec council direct eec june base articl treati consolid account amend direct eec derog insur undertak expiri deadlin impos applic direct direct includ provis specif insur undertak respect consolid account coordin urgent requir insur undertak oper border creditor debtor member policyhold advis gener public improv compar annual account consolid account undertak crucial import member state insur undertak legal form competit undertak engag busi direct insur customarili engag busi reinsur competit specialist reinsur undertak confin coordin legal form cover direct eec choos scope correspond council direct eec juli coordin law regul administr provis relat take pursuit busi direct insur life assur amend direct eec council direct eec march coordin law regul administr provis relat take pursuit busi direct life assur amend direct eec includ undertak exclud scope direct compani firm reinsur undertak view specif characterist insur undertak propos separ direct annual account consolid account undertak necessarili requir establish set standard direct eec eec separ standard consist principl underli coordin compani law import posit occupi commun economi insur undertak exclud framework rule devis undertak gener reason characterist insur undertak account direct deal derog rule laid direct eec eec major differ structur content balanc sheet insur undertak member state direct lai structur item design balanc sheet commun insur undertak annual account consolid account compar number basic question disclosur transact balanc sheet settl interest greater compar content balanc sheet item determin precis distinguish commit insur reinsur show asset reinsur share technic provis asset structur profit loss account determin item defin specif natur insur industri unreal gain loss dealt profit loss account compar figur balanc sheet profit loss account depend basic valu asset liabil shown balanc sheet proper understand financi situat insur undertak current invest base principl purchas price product cost disclos compulsori disclosur current invest note account prescrib sole purpos compar transpar intend lead tax treatment insur undertak calcul life assur provis made actuari method customarili appli market accept insur monitor author method implement actuari expert accord condit laid nation law due regard actuari principl recogn framework present futur coordin fundament rule prudenti financi monitor direct life assur busi calcul provis claim outstand hand implicit discount deduct prohibit hand precis condit recours explicit discount deduct defin sake prudenc transpar view special natur insur undertak regard note annual account consolid account line intent cover insur undertak scope direct eec eec derog small medium size insur undertak direct eec provid small mutual associ exclud scope direct eec eec cover reason scope allow member state pursuant direct eec exempt parent undertak group compulsori consolid undertak consolid exce size extend insur undertak view natur special provis need associ underwrit lloyd provis direct appli consolid account drawn parent undertak financi hold compani subsidiari undertak eiher exclus insur undertak examin problem aris connect direct applic requir cooper repres member state commiss contact committe order avoid prolifer committe desir cooper place committe provid articl direct eec examin problem insur undertak committe appropri constitut view complex matter insur undertak cover direct allow period implement provis period extend adjust made hand associ underwrit lloyd undertak direct applic show invest histor cost provis made review provis direct year experi applic light aim greater transpar harmon adopt direct section preliminari provis scope articl articl point direct eec appli undertak refer articl direct direct refer made direct eec eec articl balanc sheet articl profit loss account direct eec refer deem refer articl balanc sheet articl profit loss account direct refer direct eec eec articl direct eec deem refer articl take account articl direct aforement provis direct eec relat balanc sheet item direct lai equival deem refer item articl direct asset liabil item list articl coordin measur prescrib direct appli compani firm mean paragraph articl treati undertak mean articl direct eec exclud mutual associ exclud scope direct virtu articl thereof includ bodi refer articl thereof activ consist wholli carri insur busi undertak mean articl direct eec exclud bodi mutual associ refer articl direct undertak carri reinsur busi direct undertak refer insur undertak fund group pension fund mean articl direct eec insur undertak administ behalf parti shown balanc sheet undertak acquir legal titl asset concern total amount asset liabil shown separ note account broken asset liabil item member state permit disclosur fund balanc sheet item provid special rule fund exclud asset distribut event wind insur undertak similar proceed asset acquir behalf parti shown balanc sheet articl provis direct relat life assur appli mutati mutandi insur undertak underwrit health insur exclus princip technic principl life assur member state appli paragraph health insur underwritten joint undertak technic principl life assur activ signific articl direct appli associ underwrit lloyd subject adapt set annex account natur structur lloyd section gener provis balanc sheet profit loss account articl combin item condit laid articl direct eec restrict case insur undertak balanc sheet item preced arab numer item technic provis profit loss account item preced lower case letter item ii combin author rule laid member state section layout balanc sheet articl member state prescrib layout balanc sheet asset subscrib capit unpaid show separ call capit nation law requir call capit includ liabil case capit call paid includ asset iv intang asset unter item articl direct eec show separ format expens defin nation law nation law permit shown asset nation law requir disclosur note account goodwil extent acquir valuabl consider nation law requir disclosur note account invest iii land build show separ land build occupi insur undertak activ nation law requir disclosur note account iii invest affili undertak particip interest share affili undertak debt secur issu loan affili undertak particip interest debt secur issu loan undertak insur undertak link virtu particip interest iii financi invest share variabl yield secur unit unit trust debt secur fix incom secur particip invest pool loan guarante mortgag loan deposit credit institut iv deposit cede undertak invest benefit life assur policyhold bear invest risk debtor amount ow affili undertak undertak insur undertak link virtu particip interest shown separ item item ii iii iii debtor aris direct insur oper policyhold intermediari iii debtor aris reinsur oper iii debtor iv subscrib capit call paid nation law requir capit call paid shown asset asset iii tangibl asset stock list ii articl direct eec land build build construct deposit paid land build iii cash bank hand iii share indic nomin absenc nomin account par extent nation law permit shown balanc sheet iv prepay accru incom iii accru interest rent iii defer acquisit cost distinguish aris life insur life assur busi iii prepay accru incom loss financi year nation law requir shown liabil vi liabil capit reserv iii subscrib capit equival fund nation law requir call capit shown item case amount subscrib capit paid capit shown separ iii share premium account iii revalu reserv iv reserv iv profit loss brought forward vi profit loss financi year nation law requir shown asset liabil subordin liabil technic provis provis unearn premium gross amount reinsur amount life assur provis gross amount reinsur amount claim outstand gross amount reinsur amount provis bonus rebat shown gross amount reinsur amount equal provis technic provis gross amount reinsur amount technic provis life assur polici invest risk born policyhold gross amount reinsur amount provis risk charg provis pension similar oblig provis taxat provis deposit receiv reinsur creditor amount ow affili undertak undertak insur undertak link virtu particip interest shown separ item iii creditor aris direct insur oper iii creditor aris reinsur oper iii debentur loan show convert loan separ iv amount ow credit institut iv creditor includ tax social secur accrual defer incom profit financi year nation law requir shown liabil vi articl articl direct eec appli commit link insur activ section special provis relat balanc sheet item articl articl direct eec appli asset item ii defin articl direct movement item shown basi balanc sheet begin financi year articl asset item iii debt secur fix incom secur item compris negoti debt secur fix incom secur issu credit institut undertak public bodi cover item ii secur bear interest rate vari line specif factor interest rate inter bank market euromarket regard debt secur fix incom secur articl asset item iii particip invest pool item compris share held undertak joint invest constitut undertak pension fund manag entrust undertak pension fund articl asset item iii loan guarante mortgag loan loan policyhold polici main secur includ loan amount disclos note account loan guarante mortgag shown secur insur polici amount loan secur polici materi breakdown note account articl asset item iii deposit credit institut item compris sum withdraw subject time restrict sum deposit restrict shown ii bear interest articl asset item iii item compris invest cover item iii amount invest signific disclos note account articl asset item iv deposit cede undertak balanc sheet undertak accept reinsur item compris amount ow cede undertak guarante deposit cede undertak parti retain undertak amount combin amount ow cede insur reinsur set amount ow reinsur cede insur secur deposit cede undertak parti remain properti undertak accept reinsur enter account invest item articl asset item invest benefit life assur policyhold bear invest risk respect life assur item compris hand invest determin return polici relat invest fund hand invest serv cover liabil determin refer index item compris invest held behalf member tontin intend distribut articl asset item iv item compris asset cover item ii iii asset materi disclos note account articl asset item accru interest rent item compris item repres interest rent earn balanc sheet date receiv articl asset item ii defer acquisit cost cost acquir insur polici defer accord articl direct eec deferr prohibit member state member state permit deduct acquisit cost unearn premium life insur busi deduct actuari method mathemat reserv life assur busi method amount deduct provis note account articl liabil item subscrib capit equival fund item compris amount irrespect actual design accord legal structur insur undertak regard nation law member state concern equiti capit subscrib sharehold person articl liabil item iv reserv item compris type reserv list articl direct eec liabil item iv defin member state requir type reserv insur undertak legal structur cover direct eec reserv shown separ item liabil item iv balanc sheet insur undertak concern revalu reserv shown liabil iii articl liabil item subordin liabil contractu agre event wind bankruptci liabil repres certif repaid claim creditor met liabil question shown item articl member state permit undertak balanc sheet includ fund alloc policyhold sharehold determin close financi year amount shown liabil item ba fund futur appropri variat item deriv item ii transfer fund futur appropri profit loss account articl liabil item technic provis articl direct eec appli technic provis subject articl direct articl liabil item reinsur amount reinsur amount compris actual estim amount contractu reinsur arrang deduct gross amount technic provis provis unearn premium reinsur amount calcul method refer articl accord term reinsur polici member state requir permit reinsur amount shown asset option exercis amount shown asset item da reinsur share technic provis subdivid provis unearn premium life assur provis claim outstand provis bonus rebat shown technic provis technic provis life assur polici invest risk born policyhold notwithstand articl item combin articl liabil item provis unearn premium provis unearn premium compris amount repres part gross premium written alloc financi year subsequ financi year case life assur member state pend harmon requir permit provis unearn premium includ item pursuant articl item includ amount provis unexpir risk descript item provis unearn premium unexpir risk amount unexpir risk materi disclos separ balanc sheet note account articl liabil item technic provis item compris inter alia provis unexpir risk amount set addit unearn premium respect risk born insur undertak end financi year order provid claim expens connect insur contract forc excess relat unearn premium premium receiv contract nation legisl provis unexpir risk ad provis unearn premium defin articl includ amount shown item amount unexpir risk signific disclos separ balanc sheet note account option provid paragraph articl exercis item includ ag reserv articl liabil item life assur provis life assur provis compris actuari estim insur undertak liabil includ bonus declar deduct actuari futur premium articl liabil item claim outstand provis claim outstand total estim ultim cost insur undertak settl claim aris event occur end financi year report amount paid respect claim articl liabil item provis bonus rebat provis bonus rebat compris amount intend policyhold contract beneficiari bonus rebat defin articl extent amount credit policyhold contract beneficiari includ item ba fund futur appropri provid articl paragraph item articl liabil item equal provis equal provis compris amount set complianc legal administr requir equal fluctuat loss ratio futur year provid special risk absenc legisl administr requir reserv mean articl constitut purpos disclos note account articl liabil item technic provis life assur polici invest risk born policyhold item compris technic provis constitut cover liabil relat invest context life assur polici return determin refer invest policyhold bear risk refer index addit technic provis constitut cover death risk oper expens risk benefit payabl matur date guarante surrend valu shown item item compris technic provis repres oblig tontin organ vi vi member articl liabil item deposit receiv reinsur balanc sheet undertak cede reinsur item compris amount deposit withheld insur undertak reinsur contract amount merg amount ow undertak question undertak cede reinsur receiv deposit secur transfer ownership item compris amount ow cede undertak virtu deposit section layout profit loss account articl member state prescrib layout shown articl profit loss account technic account life insur busi class direct insur scope direct eec class reinsur busi technic account life assur busi class direct insur scope direct eec class reinsur busi member state requir permit undertak activ consist wholli reinsur technic account life insur busi busi appli undertak underwrit direct life insur reinsur articl profit loss account iii technic account life insur busi earn premium net reinsur gross premium written outward reinsur premium chang gross provis unearn premium nation legisl author inclus provis liabil item provis unexpir risk chang provis unearn premium reinsur share alloc invest return transfer technic account item iii technic incom net reinsur claim incur net reinsur claim paid aa gross amount bb reinsur share chang provis claim aa gross amount bb reinsur share technic provis net reinsur shown head bonus rebat net reinsur net oper expens acquisit cost chang defer acquisit cost administr expens reinsur commiss profit particip technic charg net reinsur chang equal provis total balanc technic account life insur busi item iii iii technic account life assur busi earn premium net reinsur gross premium written outward reinsur premium chang provis unearn premium net reinsur invest incom incom particip interest separ indic deriv affili undertak incom invest separ indic deriv affili undertak aa incom land build bb incom invest adjust invest gain realiz invest unreal gain invest technic incom net reinsur claim incur net reinsur claim paid aa gross amount bb reinsur share chang provis claim aa gross amount bb reinsur share chang technic provis net reinsur shown head life assur provis net reinsur aa gross amount bb reinsur share technic provis net reinsur bonus rebat net reinsur net oper expens acquisit cost chang defer acquisit cost administr expens reinsur commiss profit particip invest charg invest manag charg includ interest adjust invest loss realiz invest unreal loss invest technic charg net reinsur alloc invest return transfer technic account item iii total balanc technic account life assur busi item iii iii technic account balanc technic account life insur busi item balanc technic account life assur busi item ii invest incom incom particip interest separ indic deriv affili undertak incom invest separ indic deriv affili undertak aa incom land build bb incom invest adjust invest gain realiz invest alloc invest return transfer life assur technic account item ii invest charg invest manag charg includ interest adjust invest loss realiz invest alloc invest return transfer lifeinsur technic account item incom charg includ adjust tax profit loss ordinari activ profit loss ordinari activ tax extraordinari incom extraordinari charg extraordinari profit loss tax extraordinari profit loss tax shown preced item profit loss financi year section special provis relat profit loss account item articl life insur technic account item life assur technic account item ii gross premium written gross premium written compris amount due financi year respect insur contract fact amount relat part financi year includ inter alia ii premium written premium calcul end year ii singl premium includ annuiti premium life assur singl premium result bonu rebat provis consid premium basi contract nation legisl requir permit shown premium iii addit premium case half yearli quarterli monthli payment addit payment policyhold expens born insur undertak iv case insur undertak portion total premium reinsur premium due cede retroced insur undertak includ portfolio entri deduct portfolio withdraw credit cede retroced insur undertak cancel amount includ amount tax charg levi premium articl life insur technic account item life assur technic account item ii outward reinsur premium outward reinsur premium compris premium paid payabl respect outward reinsur contract enter insur undertak portfolio entri payabl conclus amend outward reinsur contract ad portfolio withdraw receiv deduct articl life insur technic account item life assur technic account item ii chang provis unearn premium net reinsur pend coordin member state case life assur requir permit chang unearn premium includ chang life assur provis articl life insur technic account item life assur technic account item ii claim incur net reinsur claim incur compris payment made respect financi year provis claim minu provis claim preced financi year amount includ annuiti surrend entri withdraw loss provis cede insur undertak reinsur extern intern claim manag cost charg claim incur report refer articl sum recover basi subrog salvag mean articl deduct differ loss provis made begin year outstand claim incur previou year payment made year account claim incur previou year loss provis shown end year outstand claim materi disclos note account broken categori amount articl life insur technic account item life assur technic account item ii bonus rebat net reinsur bonus compris amount chargeabl financi year paid payabl policyhold insur parti provid benefit includ amount increas technic provis appli reduct futur premium extent amount repres alloc surplu profit aris busi section busi deduct amount provid previou year longer requir rebat compris amount extent repres partial refund premium result experi individu contract materi amount charg bonus charg rebat disclos separ note account articl life insur technic account item life assur technic account item ii acquisit cost acquisit cost compris cost aris conclus insur contract cover direct cost acquisit commiss cost draw insur document includ insur contract portfolio indirect cost advertis cost administr expens connect process propos issu polici member state requir polici renew commiss enter item ii articl life insur technic account item life assur technic account item ii administr expens administr expens includ cost aris premium collect portfolio administr handl bonus rebat outward reinsur includ staff cost depreci provis respect offic furnitur equip shown acquisit cost claim incur invest charg articl life insur technic account item ii technic account item iii invest incom charg invest incom charg relat life insur disclos technic account case undertak carri life assur busi invest incom charg disclos life assur technic account case undertak carri life assur life insur busi invest incom charg extent directli connect carri life assur busi disclos life assur technic account member state requir permit disclosur invest incom charg origin attribut invest provid item life insur technic account analog item life assur technic account articl life insur technic account item life assur technic account item ii technic account item iii alloc invest return part invest return transfer life insur technic account transfer technic account deduct item iii ad item part invest return disclos life assur technic account transfer technic account amount transfer deduct item ii ad item iii member state lai procedur amount transfer alloc return part profit loss account reason transfer base made disclos note account event refer text relev regul suffic articl life assur technic account item ii unreal gain loss invest life assur busi member state permit disclosur full part item ii profit loss account variat differ valuat invest current mean method refer articl direct eec valuat purchas price event member state requir amount refer paragraph disclos aforement item relat invest shown asset member state requir permit valuat invest shown asset current respect life insur permit disclosur full part item iii item iii profit loss account variat differ valuat invest current valuat purchas price section valuat rule articl articl direct eec valuat item shown annual account base principl purchas price product cost appli invest subject articl direct articl member state requir permit valuat invest shown asset basi current calcul accord articl invest shown asset shown current invest shown purchas price current disclos note account member state date notif direct invest shown purchas price give undertak option initi disclos note account current invest shown asset year date refer articl current invest year date invest shown current purchas price disclos note account valuat method appli invest includ item denot arab numer shown asset method appli invest item state note account articl current appli invest articl direct eec appli provid articl direct articl case invest land build current market save provid paragraph invest offici list offici stock exchang market balanc sheet date balanc sheet date stock exchang trade dai stock exchang trade dai date market exist invest refer paragraph market averag price invest trade balanc sheet date balanc sheet date trade dai trade dai date date account drawn invest refer paragraph sold sold short term market reduc actual estim realiz cost equiti method appli accord articl direct eec invest valu basi prudent regard realiz case method valuat precis reason adopt state note account articl case land build current market date valuat relev reduc provid paragraph market price land build sold privat contract seller arm length buyer date valuat assum properti publicli expos market market condit permit orderli dispos normal period regard natur properti negoti sale market determin separ valuat land build item carri year method gener recogn recogn insur supervisori author articl direct eec appli land build item diminish preced valuat paragraph adjust made lower arriv increas subsequ balanc sheet increas result determin market arriv accord paragraph date account drawn land build sold sold short term arriv accord paragraph reduc actual estim realiz cost imposs determin market land build item arriv basi principl purchas price product cost deem current method current land build arriv breakdown financi year valuat disclos note account articl articl direct eec appli insur undertak manner paragraph appli asset shown defin articl direct paragraph appli asset shown ii iii iv stock iii defin articl direct articl articl direct eec appli insur undertak subject provis appli asset shown fix asset shown defin articl direct paragraph aa appli asset shown ii iii iv iii defin articl direct member state requir adjust made respect transfer secur shown invest shown lower attribut balanc sheet date articl articl direct eec appli asset shown defin articl direct articl articl direct eec appli asset shown ii iii ii defin articl direct articl life insur amount defer acquisit cost establish basi compat unearn premium life assur calcul amount acquisit cost defer actuari calcul refer articl articl valu market debt secur fix incom secur shown asset ii iii shown balanc sheet purchas price member state requir permit debt secur shown balanc sheet amount repay matur purchas price secur refer point exce amount repay matur amount differ charg profit loss account member state requir permit amount differ written instal complet written secur repaid differ shown separ balanc sheet note account purchas price secur refer point amount repay matur member state requir permit amount differ releas incom instal period remain repay differ shown separ balanc sheet note account debt secur fix incom secur valu market sold matur proce purchas debt secur fix incom secur member state permit differ proce sale book spread uniformli period remain matur origin invest articl technic provis amount technic provis time undertak meet liabil aris insur contract foreseen articl provis unearn premium provis unearn premium principl comput separ insur contract member state permit statist method proport flat rate method expect give approxim result individu calcul class insur assumpt tempor correl risk experi premium calcul method appli account differ pattern risk time articl provis unexpir risk provis unexpir risk refer articl comput basi claim administr expens aris end financi year contract conclud date estim exce provis unearn premium premium receiv contract articl life assur provis life assur provis principl comput separ life assur contract member state permit statist mathemat method expect give approxim result individu calcul summari princip assumpt made note account comput made annual actuari specialist field basi recogn actuari method articl provis claim outstand life insur provis principl comput separ case basi cost expect aris statist method result adequ provis regard natur risk member state make applic method subject prior approv provis claim incur report balanc sheet date amount determin regard past experi number magnitud claim report balanc sheet date claim settlement cost includ calcul provis irrespect origin recover amount aris acquisit right policyhold respect parti subrog legal ownership insur properti salvag deduct provis claim outstand estim prudent basi amount materi disclos note account derog subparagraph member state requir permit disclosur recover amount asset benefit result claim paid form annuiti amount set purpos calcul recogn actuari method implicit discount deduct result place present provis outstand claim expect settl higher figur effect prohibit member state permit explicit discount deduct account invest incom discount deduct permiss ii expect averag date settlement claim year account date ii discount deduct effect recogn prudenti basi compet author advanc notif chang method iii calcul total cost settl claim undertak take account factor increas cost iv undertak adequ data dispos construct reliabl model rate claim settlement rate interest calcul present valu exce prudent estim invest incom asset invest provis claim period payment claim exce invest incom asset preced year invest incom asset year preced balanc sheet date discount effect deduct undertak note account disclos total amount provis discount deduct categori claim discount deduct made categori claim method rate estim refer preced subparagraph point iii criteria adopt estim period elaps claim settl life insur amount provis claim equal sum due beneficiari cost settl claim includ provis claim incur report member state requir disclosur liabil item amount refer articl pend coordin member state requir permit applic method natur class type insur question inform premium receiv claim payabl underwrit year insuffici annual account drawn accur estim made method excess premium written claim expens paid respect contract commenc underwrit year form technic provis includ technic provis claim outstand shown balanc sheet liabil item provis comput basi percentag premium written method type risk insur aris amount technic provis increas make suffici meet present futur oblig technic provis constitut method replac provis claim outstand estim usual manner suffici inform gather end year underwrit year method figur shown technic account item relat year wholli partli preced financi year month amount technic provis shown annual account increas make suffici meet present futur oblig method paragraph adopt appli systemat success year circumst justifi chang method disclos note account reason event chang method appli effect asset liabil financi posit profit loss note account method length time elaps provis claim outstand constitut usual basi disclos note account method length time earlier year figur relat preced financi year magnitud transact concern disclos note account purpos articl underwrit year financi year insur contract class type insur question commenc articl pend coordin member state requir constitut equal provis prescrib valuat rule appli section content note account articl place inform provid articl direct eec insur undertak provid particular iii life insur note account disclos gross premium written gross premium earn gross claim charg gross oper expens reinsur balanc amount shown broken direct insur reinsur accept reinsur accept amount gross premium written direct insur group class accid health motor parti liabil motor class marin aviat transport fire damag properti parti liabil credit suretyship legal expens assist miscellan breakdown group class direct insur requir amount gross premium written direct insur group question exce ecu million undertak case disclos amount relat largest group class busi iii life assur note account disclos gross premium written broken direct insur reinsur accept reinsur accept amount gross premium written direct insur ii individu premium ii premium group contract ii period premium ii singl premium ii premium bonu contract ii premium bonu contract iii premium contract invest risk born policyhold disclosur figur relat requir exce gross premium written direct insur reinsur balanc iii case cover articl gross premium broken life assur life insur iv case total gross direct insur premium result contract conclud insur undertak member state head offic member state countri disclosur figur relat requir exce total gross premium articl note account insur undertak disclos total amount commiss direct insur busi account financi year requir cover commiss kind acquisit renew collect portfolio manag commiss section provis relat consolid account articl insur undertak draw consolid account consolid annual report accord direct eec save provid section member state recours articl direct eec paragraph appli parent undertak sole essenti object acquir hold subsidiari undertak turn profit subsidiari undertak exclus insur undertak articl direct eec appli subject provis articl appli inform refer indent articl amount fix asset net turnov replac particular gross premium written defin articl direct member state appli articl direct eec insur undertak connect articl direct manag unifi basi pursuant contract provis memoranda articl associ unifi manag consist import durabl reinsur link member state permit derog articl direct eec transact conclud normal market condit establish policyhold right derog disclos materi effect asset liabil financi posit profit loss undertak includ consolid fact disclos note consolid account articl direct eec appli provid balanc sheet date undertak includ consolid preced consolid balanc sheet date month articl direct eec appli liabil item valuat undertak includ consolid base applic provis specif insur undertak asset item valu affect establish policyhold right recours derog fact disclos note consolid account articl consolid account member state requir permit invest incom charg disclos technic account incom charg connect life assur busi member state case requir permit alloc part invest return life assur technic account section public articl duli approv annual account insur undertak annual report report person respons audit account publish laid law member state accord articl direct eec oj law member state provid annual report publish provid subparagraph event made public undertak head offic member state concern obtain copi part report request price copi exce administr cost paragraph appli duli approv consolid account consolid annual report report person respons audit account insur undertak drawn annual account consolid account establish type compani list articl direct eec requir nation law publish document refer paragraph articl prescrib articl direct eec make public head offic obtain copi document request price copi exce administr cost member state provid sanction failur compli public rule laid articl section final provis articl contact committe set pursuant articl direct eec constitut appropri function facilit prejudic articl treati harmon applic direct regular meet deal practic problem aris connect applic advis commiss aris addit amend direct articl member state adopt law regul administr provis compli direct januari forthwith inform commiss thereof member state adopt measur includ refer direct accompani refer occas offici public method make refer laid member state member state provid provis refer paragraph appli annual account consolid account financi year begin januari calendar year member state commun commiss text main provisoin nation law adopt field govern direct articl year date refer articl council act propos commiss examin revis provis direct provid member state option light experi acquir appli direct aim greater transpar harmon provis refer direct articl direct address member state brussel decemb council presid dankert oj oj oj oj oj oj oj oj oj oj oj annex provis relat lloyd gener purpos direct lloyd lloyd syndic deem insur undertak subject adapt set section lloyd syndic prepar annual account syndic account lloyd prepar aggreg account aggreg account place consolid account prescrib direct eec annex lloyd account type account refer special provis content syndic account subject paragraph syndic account prepar cumul basi underwrit year account time shell compris separ underwrit year account year balanc sheet year account prepar month open year underwrit account prepar analog provis govern prepar profit loss account show addit entri chang figur preced account date alloc capac syndic relev underwrit year account content aggreg account aggreg account prepar cumul account lloyd syndic includ note give detail inter syndic busi includ premium written claim paid method run year account refer paragraph account method premium incom limit individu member lloyd syndic calcul capit lloyd lloyd syndic requir disclos aggreg account dyndic account figur liabil item subscrib capit equival fund ii share premium account iv reserv lloyd attach note aggreg account disclos member person resourc lloyd deposit person reserv fund special reserv fund disclos mean central resourc lloyd net asset central fund net asset corpor lloyd taxat lloyd lloyd syndic requir disclos aggreg account syndic account figur liabil item provis taxat creditor includ tax social secur tax concern item iii tax profit loss ordinari activ iii tax extraordinari profit loss profit loss account except amount deduct sourc note lloyd account state tax charg shown basic rate tax applic amount deduct sourc account principl concern concern principl set articl direct eec appli lloyd account accrual accrual principl set articl direct eec appli lloyd account alloc incom year date refer articl lloyd lloyd syndic alloc incom deriv insur contract syndic year account incept date basi account principl lloyd account item receiv uniform treatment reinsur recoveri account respect open year syndic paid claim oper expens alloc underwrit year account incur technic provis subject paragraph derog articl technic provis lloyd account underwrit account open year show excess premium collect claim expens paid analog articl provis claim outstand calcul underwrit year account close shown accord paragraph open year syndic prepar account open year cash receipt payment basi reinsur close subject paragraph syndic close account end year period payment premium reinsur close disclos inform gross notifi outstand claim reinsur recoveri anticip net notifi outstand claim provis gross claim incur report reinsur recoveri anticip provis net claim incur report net premium reinsur close year account net total run year account purpos paragraph run year account respect date close accord paragraph uncertainti prevent determin reinsur close left open uncertainti resolv respect run year account syndic account includ underwrit account show amount retain meet unknown outstand liabil repres provis claim outstand estim usual manner disclosur deposit cedant year date refer articl lloyd lloyd syndic requir disclos figur asset item iv deposit cede untertak life busi derog articl lloyd life assur busi pure term life assur period year shown lloyd account format provid articl life insur busi gross premium derog articl gross premium state net brokerag addit requir articl relat profit loss account item ii gross premium written net reinsur note includ syndic account explain basi commiss brokerag charg give estim averag rate commiss brokerag main line busi written syndic aggreg account give estim averag rate commiss brokerag market content note lloyd account note lloyd account mean gross premium set paragraph