【法规名称】
【法规编号】 82473 什么是编号？
【正 文】
第4页 CAP 41E INSURANCE COMPANIES (DETERMINATION OF LONG TERM LIABILITIES) REGULATION
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[接上页] (3) Where under a contract (not being a linked long term contract)- (a) each premium paid increases the benefits (other than benefits arising from a distribution of profits) provided under the contract; or (b) the amount of a premium payable in future is not determinable until it comes to be paid,future premiums and the corresponding liability may be left out of account so long as adequate provision is made against any risk that the increase in the liabilities of the company resulting from the payment of future premiums might exceed the amount of the premiums. (4) An alternative valuation method to that described in subsections (1) to (3) may be used where it can be demonstrated that the alternative method results in reserves no less, in aggregate, than would result from the use of the method described in those subsections. (Enacted 1995) Cap 41E s 15 Acquisition expenses (1) In order to take account of acquisition expenses, the maximum annual premium to be valued under section 14 may (subject to subsection (2)) be increased by an amount not greater than the equivalent, taken over the whole period of premium payments and calculated according to the rates of interest and rates of mortality or disability employed in valuing the contract, of the lower of- (a) (i) in the case of long term business carried on in or from Hong Kong, 150% of the annual premium to be valued under section 14; and (ii) in the case of any other long term business, 3.5% of the relevant capital sum under the contract; or(b) the defined percentage of the relevant capital sum under the contract.(2) For the purposes of subsection (1), "the defined percentage" (界定百分率) is the percentage arrived at by taking (for all contracts of the same type as the contract in question for which an adjustment is made) the average of the percentages of the relevant capital sum under each such contract that represent the acquisition costs incurred which, after allowing for the effects of taxation, might reasonably be expected to be recovered from the premiums payable under the contract. (3) The increase permitted by subsection (1) shall be subject to the limitation that the amount of a future premium valued shall not in any event be greater than the amount of the premium actually payable by the policy holder. (4) For the purposes of this section, "relevant capital sum" (有关资本额) means, in the case of- (a) whole life assurances, the sum assured; (b) policies where a sum is payable on maturity (including policies where a sum is also payable on earlier death), the sum payable on maturity; (c) deferred annuities, the capitalised value of the annuity at the vesting date (or the cash option if it is greater); (d) capital redemption contracts, the sum payable at the end of the contract period; and (e) temporary assurances, the sum assured,excluding in all cases any vested reversionary bonus. (Enacted 1995) Cap 41E s 16 Nature and term of assets The determination of the amount of long term liabilities shall take into account the nature and term of the assets representing those liabilities and the value placed upon them and shall include prudent provision against the effects of possible future changes in the value of the assets on- (a) the ability of the insurer to meet its obligations arising under contracts for long term business as they arise; and (b) the adequacy of the assets to meet the liabilities as determined in accordance with sections 5 to 15. (Enacted 1995) |
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