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Closure to New Business (Run-Off Expenses)

M

misterh

Member
Under both Solvency regimes and each pillar therein what are the specific rules on the above re. inclusion/exclusion and re. timeline (or it is always assumed over 1 year when included?)
thanks
 
I don't know the exact rules here but I have seen references to "12 months" on this subject matter.

I will back this up with the Going Concern rule in Accountancy. A company is deemed to cease going concern status if its expected to stop operating within 12 months. Without saying a closed fund is not going concern, its reasonable to think that the "closure to new business" and a company ceasing to be going concern are related subjects so the 12 month rule may be correct.

Note Going Concern means - operating into the foreseeable future.
 
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