Die Rechnungslegungsvorschriften für die Lebensversicherung in Belgien

Abstract

Belgian life assurance business is supervised in accordance with the Act of 25th June, 1939, the Royal Order of 17th June, 1931, and the subsequent ministerial orders issued in pursuance of that legislation. The paper deals with the general form of the balance-sheet and profit-and-loss account which have to be compiled annually, and discusses the more important actuarial items therein, such as the premium reserves, the reserves for claims admitted but not paid, and for participation in the profits by policyholders. The representation of reinsurance business is also dealt with, as well as that of foreing business. The requirements for publication and for reports to the supervisory authority are described. The provisions concerning the actuarial formulae for the premiums, premium-reserves, surrender-values etc., resulting from the Government ordinance No. 61, of 2nd October, 1942, are reproduced in an annexe. A further annexe shows the provisions relating to investments held against the premium reserves.