128. The actuary must prepare, on the dates determined by the Authority, a study concerning the authorized insurer’s financial position, a report on the state of the actuarial reserves and a certificate attesting that state.
The study must also include a forecast of the authorized insurer’s financial position and must describe the potential financial repercussions of the insurer’s activities. The report must also include any other information determined by the Authority.
The actuary must send a copy of the study and the report to the board of directors and the auditor.
The actuary must present the study and the report to the board of directors, unless the board asks him or her to present them to the audit committee.