Article 307 Business and performance

1.

(a)

the main trends and factors that contribute to the development, performance and position of the undertaking over its business planning time period including the undertaking's competitive position and any significant legal or regulatory issues;

(b)

a description of the business objectives of the undertaking, including the relevant strategies and time frames.

2.

(a)

information on the undertaking's underwriting income and expenses by material line of business and material geographical areas where it writes business during the reporting period, a comparison of the information with that reported on the previous reporting period and the reasons for any material changes;

(b)

an analysis of the undertaking's overall underwriting performance during the reporting period;

(c)

information on the undertaking's underwriting performance by line of business during the reporting period against projections, and significant factors affecting deviations from these projections;

(d)

projections of the undertaking's underwriting performance, with information on significant factors that might affect such underwriting performance, over its business planning time period;

(e)

information on any material risk mitigation techniques purchased or entered into during the reporting period.

3.

(a)

information on income and expenses with respect to investment activities during the last reporting period, a comparison of the information with that reported on the previous reporting period and reasons for any material changes;

(b)

an analysis of the undertaking's overall investment performance during the reporting period and also by relevant asset class;

(c)

projections of the undertaking's expected investment performance, with information on significant factors that might affect such investment performance, over its business planning time period;

(d)

the key assumptions which the undertaking makes in its investment decisions with respect to the movement of interest rates, exchange rates, and other relevant market parameters, over its business planning time period;

(e)

information about any investments in securitisation, and the undertaking's risk management procedures in respect of such securities or instruments.

4.

5.