Status: You are viewing the version of the handbook as on 2009-03-31.

with-profits fund

      1. 7
      1. (1)13 (except in INSPRU)13: 7
        1. (a) a long-term insurance fund (or that part of such a fund) in which policyholders are eligible to participate in any established surplus; and7
        1. (b) where it is an insurer's usual practice to restrict policyholders' participation in any established surplus to that arising from only a part of the fund (or part fund) falling within (a), that part (or that part of the part fund).7
      1. (2) for the purposes of10 INSPRU 10 , a long-term insurance fund in which policyholders are eligible to participate in any established surplus.47