GIM6410 - Technical provisions: periods of account beginning on or after 1 January 2000: General Insurance Reserves (Tax) Regulations: apportionments

Regulation 9: apportionments

Regulation 9 applies to all the other regulations and requires any necessary apportionments to be carried out on a just and reasonable basis.

For example, a portfolio reinsurance may cover liabilities arising in several different years. It may be necessary to apportion both premiums and recoveries between years for the purposes of regulation 3(3) Rule 3.