Term
Definition
Letter: A
actuarial body
the Institute of Actuaries or theFaculty of Actuaries.
- 01/12/2004
actuarial function
controlled function
CF12 in the
table of controlled functions, described more fully in SUP 4.3.13 R and
SUP 10.7.17 R
.
- 31/12/2004
actuarial health insurance
(1) (in LLD) the type of insurance defined in LLD 11.4.1 R, which is in summary: general insurance business which is sickness insurance and satisfies certain specified conditions.(2) (in PRU) (in the context of the rules in PRU 7.2 concerning the calculation of the general insurance capital requirement), health insurance which meets all the conditions set out in PRU 7.2.72 R.
- 31/12/2004
actuarial investigation
an investigation to which IPRU-INS rule 9.4 applies.
- 31/12/2004
actuarial valuation date
(in PRU) the date as at which the mathematical reserves are calculated.
- 31/12/2004
administrative functions
(a) (in relation to managing investments):
(i) arranging settlement;
(ii) monitoring and processing corporate actions;
(iii) client account administration, liaison and reporting, including valuation and performance measurement;
(v) investment trust savings scheme administration;
(b) (in relation to effecting or carrying out life policies):
(i) new business administration;
(iii) preparing projections;
(iv) processing claims including pension payments;
(v) fund switching;
(c) (in relation to the operation of a stakeholder pension scheme):
(i) new business administration;
(ii) receipt of or alteration to contributions;
(iii) preparing projections and annual statements;
(iv) administration of transfers;
(v) handling claims, including pension payments;
(vi) fund allocation and switching.
- 01/12/2004
adviser on syndicate participation at Lloyd's function
controlled function CF25 in the table of controlled functions, described more fully in SUP 10.10.15 R.
- 01/12/2004
apportionment and oversight function
controlled function
CF8 in the
table of controlled functions, described more fully in
SUP 10.7.1 R
.
- 01/12/2004