Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

INSPRU Sch 1 Record keeping requirements

INSPRU Schedule 1.1

1The aim of the guidance in the following table is to give the reader a quick overall view of the relevant record keeping requirements.

INSPRU Schedule 1.2

It is not a complete statement of those requirements and should not be relied on as if it were.

INSPRU Schedule 1.3




Subject of Record

Contents of Record

When record must be made

Retention Period

INSPRU 1.2.20 R


Mathematical reserves

  • The methods and assumptions used in establishing the firm's mathematical reserves, including the margins for adverse deviation, and the reasons for their use
  • The nature of, reasons for, and effect of, any change in approach, including the amount by which the change in approach increases or decreases its mathematical reserves

Not specified

An appropriate period2

INSPRU 1.5.23 R


Long-term insurance funds

A separate accounting record in respect of each of a firm's long-term insurance funds

Not specified

Not specified



3 3 3