Insurers to disclose profit margins

Current

(1)

A licensed insurer is required to disclose to the Authority the profit margin on which a premium is based and the actuarial basis for calculating that profit margin.

(2)

The Authority is to assess that profit margin, and the actuarial basis for its calculation, and to include a report on that assessment in its annual report.

This Act’s bill:Explanatory memorandum Second reading speech

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2.23 Insurers to disclose profit margins