PIN App10.5 Guidance
Statement by Directors forms a part of the Annual Regulatory Return or the
Quarterly Regulatory Return. By providing these statements, the directors confirm that
the Returns have been properly prepared and that the Insurer complies with applicable
Statement by Directors is set out as statements that must be made, but circumstances may arise when a statement cannot be made because it would be untrue
to do so. Under such circumstances this section provides for the directors to provide an explanation in place of the omitted statement.