An insurer's asset-liability management policy must—
| (a) | clearly specify the nature, role and extent of the insurer's asset-liability management activities and their relationship with product development, pricing functions and investment management; |
| (b) | co-ordinate the management of risks associated with assets and liabilities and the complexity of those risks; |
| (c) | recognise the interdependence between the insurer's assets and liabilities and take into account the correlation of risk between different asset classes and the correlations between different products and business lines; and |
| (d) | take into account any off-balance sheet exposures that the insurer may have and the contingency that risks transferred may revert to the insurer. |
