Regulatory framework: types of FSA return
The FSA return comprises three varieties:
- a global return which reports on the entire worldwide business of the insurer
- a UK branch return which reports only the business carried on through a UK branch
- an EEA branches return which reports the entire business carried on in all establishments in EEA States (including the UK).
Particular rules apply to returns from a Swiss general reinsurer, a ‘pure reinsurer’ or a UK or EEA deposit insurer. A pure reinsurer is restricted to carrying out contracts of reinsurance. UK and EEA ‘deposit insurers’ are non-UK insurers which are required to make a deposit in the UK or EEA in accordance with the First Non-Life Directive. A Swiss general insurer reports as for an insurer with its head office in the EEA.
The following table summarises the type of return insurers are required to prepare under Rule 9.2 of the Accounts and Statements Rules in IPRU(INS).
|Type of company||##### Location of Head Office|
|UK||Other EEA state||Rest of world|
|Type of Return|
|Pure reinsurer||Global return||Global return||Global return|
|UK deposit insurer||Global return and EEA branches return|
|EEA deposit insurer||UK branch return|
|All other insurers||Global return||Exempt||Global return and UK branch return|
Each form must show whether it is part of a global return, UK branch return, or EEA branches return.
Further details about returns made by insurers who are not UK incorporated companies are set out at GIM10100.