Article 311 Capital management

1.

(a)

information on the material terms and conditions of the main items of own funds held by the undertaking;

(b)

the expected developments of the undertaking's own funds over its business planning time period given the undertaking's business strategy, and appropriately stressed capital plans and whether there is any intention to repay or redeem any own-fund item or plans to raise additional own funds.

(c)

the undertaking's plans on how to replace basic own-fund items that are subject to the transitional arrangements referred to in Article 308b(9) and (10) of Directive 2009/138/EC over the timeframe referred to in that Article;

(d)

information regarding deferred taxes that shall contain as a minimum all of the following:

(i)

a description of the calculated amount of deferred tax assets without assessing their probable utilisation, and the extent to which those deferred tax assets have been recognised;

(ii)

for the deferred tax assets which have been recognised, a description of the amounts being recognised as likely to be utilised by reference to probable future taxable profit and by reference to the reversion of deferred tax liabilities relating to income taxes levied by the same taxation authority;

(iii)

a detailed description of the underlying assumptions used for the projection of probable future taxable profit for the purposes of Article 15;

(iv)

an analysis of the sensitivity of the net deferred tax assets to changes in the underlying assumptions referred to in point (iii).

2.

(a)

quantitative information on the undertaking's Solvency Capital Requirement split by risk modules where the undertaking applies the standard formula, and by risk categories where the undertaking applies an internal model;

(b)

the expected developments of the undertaking's anticipated Solvency Capital Requirement and Minimum Capital Requirement over its business planning time period given the undertaking's business strategy;

(c)

an estimate of the undertaking's Solvency Capital Requirement determined in accordance with the standard formula, where the supervisory authority requires the undertaking to provide that estimate pursuant to Article 112(7) of Directive 2009/138/EC;

(d)

for the future profit projected for the purpose of the loss-absorbing capacity of deferred taxes in accordance with Article 207:

(i)

a description, and the relevant amount of each of the components used to demonstrate a positive value of the increase in deferred tax assets;

(ii)

a detailed description of the underlying assumptions used for the projection of probable future taxable profit for the purposes of Article 207;

(iii)

an analysis of the sensitivity of the value of the adjustment to changes in the underlying assumptions referred to in point (ii).

3.

(a)

the results of the review of the causes and sources of profits and losses, required by Article 123 of Directive 2009/138/EC, for each major business unit and how the categorisation of risk chosen in the internal model explains those causes and sources of profits and losses;

(b)

information on whether, and if so to what extent, the risk profile of the undertaking deviates from the assumptions underlying the undertaking's internal model;

(c)

information about future management actions used in the calculation of the Solvency Capital Requirement.

4.

5.

6.