Related provisions for SUP 16.8.17

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SUP 16.8.5GRP

Example of calculation of persistency rate for life policies that commenced during 1996 (see SUP 16.8.3 R)1

Y (year of reporting)

Number of life policies which commenced during 1996

Number of 1996 policies that cease to be in force during Y-1

Deaths and retirements (not included in CC and CF)







1000 - 143 - 2 = 855

1000 - 2 = 998





1000 - 143 - 25 - 2 - 1 = 829

1000 - 2 - 1 = 997

Report submitted in 1998 Persistency rate for life policies that commenced during Y-2 (that is 1996)

Report submitted in 1999 Persistency rate for life policies that commenced during Y-3 (that is 1996)

SUP 16.8.10RRP
1Life policies falling within SUP 16.8.8 R, which were sold subject to the conduct of business rules of a previous regulator, need to be reported only if they were required to be reported on by the rules of the previous regulator of the firm submitting the report.
SUP 16.8.14ARRP
9In circumstances where a firm has no data to report in one or both of the life policies and stakeholder pensions sections of SUP 16 Annex 6R, a firm must submit a nil return using the relevant field(s) in the form.
SUP 16.8.16RRP
1Subject to SUP 16.8.17 R and SUP 16.8.18 R, a life policy or stakeholder pension must be treated as in force at the end of Y-1 (that is, included in CF) if and only if:(1) in the case of a regular premium life policy: (a) in the case of an industrial assurance policy on which the premiums are paid at intervals of four weeks, the premium has been paid in respect of the four-week period in which the policy anniversary falls; or(b) in any other case, the premium has been paid in
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year4 of the compensation scheme:4(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444