Section I: General provisions on the valuation of the prudential balance sheet

Insurance and reinsurance undertakings value their prudential assets and liabilities as follows: 1° Prudential assets are valued at the amount for which they could be exchanged in an arm’s length transaction between knowledgeable, willing parties; 2° Prudential liabilities are valued at the amount for which they could be transferred or settled in an arm’s length transaction between informed and consenting parties. When valuing these prudential liabilities, no adjustment is made…