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The Friendly Societies (Accounts and Related Provisions) Regulations 1994

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26.—(1) As regards general business a society must disclose:

(a)gross premiums written;

(b)gross premiums earned;

(c)gross claims incurred;

(d)gross operating expenses; and

(e)the reinsurance balance.

(2) The amounts required to be disclosed by sub-paragraph (1) must be broken down between direct insurance and reinsurance acceptances, if reinsurance acceptances amount to 10 per cent. or more of gross premiums written.

(3) Subject to sub-paragraph (4) below, the amounts required to be disclosed by sub-paragraphs (1) and (2) above with respect to direct insurance must be further broken down into the following groups of classes:

(a)accident;

(b)sickness; and

(c)miscellaneous financial loss,

where the amount of the gross premiums written in direct insurance for each such group exceeds 10 million ECUs.

(4) The society must in any event disclose the amounts relating to the three largest groups of classes in its business.

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