(1) An authorised reinsurance undertaking established in the State shall cover its technical reserves and, where required by Regulation 24, its equalisation reserve, by investing in equivalent assets in accordance with this Regulation.
(2) In investing its assets to cover its technical reserves and equalisation reserve, the undertaking shall -
(a) take into account the type of business carried on by the undertaking, in particular the nature, the amount and the duration of the expected claims payments, in such a way as to secure sufficiency, liquidity, security, quality, profitability and matching of the undertaking's investments, and
(b) diversify and adequately spread the assets so as to enable the undertaking to respond adequately to changing economic circumstances, in particular developments in the financial markets and real estate markets or large impact catastrophic events, and
(c) keep to a prudent level of investments in assets that are not traded on a regulated financial market
…