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twk000jester

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twk000jester

Re: lifegear post# 3102

Saturday, 11/01/2008 10:27:16 AM

Saturday, November 01, 2008 10:27:16 AM

Post# of 10201
I think he did.....I've been reviewing your DD.

As noted on page 59 of the Insurance Act 1978 (2008 Consolidated)

Restrictions as to payment of dividends
31B (1) A Class 3B insurer and a Class 4 insurer shall not in any financial year pay dividends which would exceed 25% of its total statutory capital and surplus, as shown on its statutory balance sheet in relation to the previous financial year...

I would have to agree with your statutory capital and surplus calculation to the shareholders.

Insurance Act 1978 (2008 Consolidated)
Reference Document:http://www.bma.bm/uploaded/Insurance%20Act%201978%20(2008%20Consolidation).pdf

Dollar Danger, Will Robinson! Dollar Danger!


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