| It goes without saying that in the world of intercompany transactions, security is an area of major importance. |
| All significant intercompany transactions and balances have been eliminated upon consolidation. |
| When these intercompany loans are in foreign currencies, the currency risk is systematically hedged. |
| All material transactions between consolidated companies, and all intercompany profits, have been eliminated. |
| Similarly, the insurer's experience data may be unreliable or not statistically credible and the only available data may be intercompany experience data, which may lack pertinence to the insurer. |
| You can only perform intercompany eliminations in these two steps if no values have yet been entered in period 001 for the current fiscal year. |
