The various aspects of the statutory regulation of long-term business insurers were introduced in Section 6.5. It is not appropriate in a book of this nature to describe current legislation in detail; here, we are interested in the general impact that the legislation has on the operation of the life insurers' business, and in particular its implications for reserving, profit recognition, and profit distribution. However, we do emphasize the actuarial role in this process, particularly with regard to reserving.