Section 62: Valuation of assets and liabilities

62. Valuation of assets and liabilities (1) Subject to any directions which may be given by the Court, in the winding up of an insurer— (a) the value of the assets of the insurer shall be ascertained in such manner and upon such basis as may be determined by the liquidator in consultation with the Commission; (b) the liabilities of the insurer in respect of the current policies of long term insurance business shall, as far as practicable, be calculated by the method and upon such basis as may be determined by an actuary appointed by the Commission; and (c) the liabilities of the insurer in respect of general insurance business shall be determined by the liquidator in consultation with the Commission. (2) The actuary, in determining the basis of valuation under subsection (1) (b), shall take into account— (a) the purpose for which the valuation is to be made; (b) any guidelines issued by the Commission; and (c) any directions which may be given to him by the Court. [Issue 2] I15 – 44 Revised Laws of Mauritius