Instructions

This questionnaire forms apart of the analysis material to substantiate an independent opinion upon the company to be prepared by the AIO.

Please submit audited financial statements for the most recent 5 financial years. All financial information should be completed in the local currency, in ’000.

The questionnaire requires the disclosure of confidential information. This will not be made public by the AIO.

If a question does not apply, please indicate by filling in “not applicable “ or “not material”.

Company Name:
Authorised personel:
Position:
Date of completion:

1. STANDING INFORMATION:

	1.1.1 Company Name and Address:
	1.1.2 Currency of reporting:

	1.2 Contacts:
	1.2.1 Name and position
	1.2.2 Phone number:
	1.2.3 Fax number:
	1.2.4 E-mail:
	1.2.5 Website:

1.3 Date of incorporation of company:

1.4 Principal shareholders: List names and % owned, also if a company brief details of business

	1.5.1 Independent Company Auditor:
	1.5.2 Date of appointment:
	1.5.3 Contact reference:
	1.5.4 Address:

	1.6.1 Independent Company Actuaries:
	1.6.2 Date of appointment:
	1.6.3 Contact reference:
	1.6.4 Address:

2. MANAGEMENT INFORMATION:

	2.1.1 Chief Executive:
	2.1.2 Age and qualifications:
	2.1.3 Length of service with company at this position:
	2.1.4 Previous positions in company:
	2.1.5 External appointments:

	2.2.1 Chief Financial Officer:
	2.2.2 Age and qualifications:
	2.2.3 Length of service with company at this position:
	2.2.4 Previous positions in company:
	2.2.5 External appointments:

	2.3.1 Director of Underwriting:
	2.3.2 Age and qualifications:
	2.3.3 Length of service with          company at this position:
	2.3.4 Previous positions in company:
	2.3.5 External appointments:

	2.4 Company organisation:
	2.4.1 Disclose composition of company board
	2.4.2 Disclose senior management team
	2.4.3 Attach an Organisation legal structure chart:
	2.4.4 Attach an Organisation management structure chart:

	2.5 List all affiliated companies:
	Name and domicile    %  held    Main business   Capital employed

	2.6 Statutory filings:
	2.6.1 Are statutory filings with Registrar of Companies (or equivalent) completely up to date?
	2.6.2 Have any fines been levied by the regulatory powers upon the company?
	2.6.3 If so, what, when and why?

	2.7 Capital structure:
	2.7.1 Authorised share capital:
	2.7.2 Issued share capital:
	2.7.3 Details of capital increases in past 5 years (disclose whether for cash or by capitalisation of reserves):
	2.7.4 Are any capital increases proposed in the next 18 months, and for what purpose?

	2.8 Details of all company debt:
	2.8.1 Who advanced the funds
	2.8.2 Amount of loan(s)
	2.8.3 Dates of issue
	2.8.4 Repayment schedule
	2.8.5 Interest rate charges.

3. INVESTMENT PORTFOLIOS:

	3.1 Banking relationships:
	3.1.1 Name of company’s principal bankers, and funds deposited there at end of previous 3 years:
	3.1.2 What deposits are held in foreign currencies?

	3.2 Valuation bases for:
	3.2.1 Investment funds?
	3.2.2 Affiliate investments?
	3.2.3 Fixed assets?

	3.3 Disclose investments in:
	3.3.1 Government bonds (give details, including any credit rating)
	3.3.2 Private bonds (give details, including any credit rating)
	3.3.3 Publicly quoted equities (give details).
	3.3.4 Unquoted equities (give details)

	3.4 Do any of the members of the company management hold substantial interests (over 2.5%) in any of these companies? If so, give details.

	3.5 Disclose any loans to/from related companies.

	3.6 Are any loans secured, and by what?

	3.7 Are there any loans to senior management? If so give details, including security.

	3.8 What investment selection criteria are used?

	3.9 List any investments which represent more than 10% of total assets, or more than 25% of shareholders funds.

	3.10 Do you use derivatives for hedging purposes or to enhance yields?

	3.11 If to enhance yields, what proportion of your derivatives use relates to this purpose?

4. UNDERWRITING AND MARKETING:

	4.1 What lines of business are compulsory in your market?

	4.2 Provide a breakdown of gross premium by geographical market.

	4.3 Provide a breakdown of underwriting performance by line of business. This must reconcile to the published underwriting account.
	Motor damage				Transport (Marine Aviation Transport)
	Motor liability
	Property private				Energy
	Property commercial				General liability
	Accident & health				Reinsurance accepted
	Credit				Other
	Where other exceeds 15% of total gross premium written, give more details.

	4.4 Does the company write inwards reinsurance? If so provide a breakdown of gross premium by line of business, and whether proportional, non-proportional or facultative.

	4.5 How many years has the company been underwriting these business lines?

	4.6.1 How is the business distributed? Identify principal insurance brokers used, and their contribution

	4.6.2 If bancassurance is a source of distribution, disclose partners

	4.7 Give brief details of the main marketing activities.

	4.8.1 Does the company plan to develop any new business lines in the next 2 years?

	4.8.2 What expertise has the company in this line(s)?

5. TECHNICAL RESERVES

	5.1 Analyse Gross and Net Technical Reserves by line of business (refer to 4.2 above) for the past three years.

	5.2 Explain any major change in reserving practice.

	5.3 Are reserves discounted? If so disclose discount rate and amount of discount.

	5.4 Disclose amount of any Incurred But Not Reported (IBNR) reserves, and basis of assessment.

	5.5 What reserves are held for catastrophes, equalisation or other non-contingent purposes?

	5.6 Disclose any over- (under-) reserving in loss reserve development in the past five years by main business line, or any over- (under-) provisioning emerging.

	5.7 Disclose circumstances of any material over- (under-) reserving in past five years.

	5.8 Identify independent actuaries (refer to section 1.8) and provide a copy of their actuarial report.

6. REINSURERS

	6.1 Name the principal reinsurers, and their shares of total ceded premiums.

	6.2 What share of ceded premiums is in respect of proportional, non-proportional and facultative reinsurance?

	6.3 Describe the main features of the reinsurance programme.

	6.4 Summarise the net catastrophe exposure.

	6.5 Summarise the net COST or (RECOVERY) to your company of its reinsurance protection in respect of business in the past 5 years.

	6.6 List major recoverables by reinsurer at the most recent balance sheet date. Are any in dispute?

	6.7 Identify any bad, or doubtful, debt provisions for reinsurers made in the past three years, and carried in the balance sheet.

7. OTHER INFORMATION

	7.1 What is the basis of consolidation used in the annual accounts?

	7.2 What is the valuation basis of affiliated companies(refer to 2.5)?

	7.3 Is there any other information which will be of value to us?