27. (1) Every insurer shall invest and at all times keep invested in the manner provided in sub-section (2) assets equivalent to not less than the sum of -(a) the amount of his liabilities to holders of life insurance policies in Bangladesh on account of matured claims; and (b) the amount required to meet the liability on policies of life insurance maturing for payment in Bangladesh less-(i) the amount of premiums which have fallen due to the insurer on such policies but have not been paid and the days of grace for payment of which have not expired, and(ii) any amount due to the insurer for loans granted on and within the surrender values of policies of life insurance maturing for payment in Bangladesh issued by him or by an insurer whose business he has acquired and in respect of which he has assumed liability: Provided that where an insurer has accepted reassurance in respect of any policies of life insurance issued by another insurer and maturing for payment in Bangladesh or has ceded reassurance to another insurer in respect of any such policies issued by himself, the said sum shall be increased by the amount of the liability involved in such acceptance and decreased by the amount of liability involved in such cession: Provided further that the said sum shall not be decreased by the amount of any liability in respect of any reinsurances ceded to an insurer not registered in Bangladesh for life insurance business except to the extent of the amount of the liability incurred up to the 31st December, 1957. (2) The investment required under sub-section (1) shall be made in the following manner, namely:- ¹[(i) thirty per cent of the sum referred to in the said sub-section shall be invested in Government securities; and(ii) the balance shall be invested in any other investment including capital market in such manner as may be prescribed.] Explanation.- For the purpose of this sub-section the amount of any deposits made under section 7 or section 98 by the insurer in respect of his life insurance business shall be deemed to be invested or kept invested in Government securities. ²[(2A) If at any time the Government is of the opinion that any investment made by an insurer in pursuance of sub-section (2) is not suitable or desirable, it may, after giving the insurer an opportunity of being heard, direct him to realise the investment within such time as may be specified in the direction and to re-invest the amount so realised in accordance with the provisions of this section.] (3) In computing the assets required by this section to be kept invested by an insurer, a sum equal to the amount of his liabilities to persons who are not citizens of Bangladesh in respect of life insurance policies issued in Bangladesh in favour of such persons but expressed in a currency other than the Bangladesh Taka may, if such sum is invested in securities of, and guaranteed as to principal and interest by, the Government of the country in whose currency such policies are expressed, be taken into account. (4) The assets required by this section to be kept invested by an insurer shall be deposited by the insurer in Bangladesh for safe custody in the prescribed manner with a scheduled bank approved by the Government and the assets so deposited shall not be released or dealt with in any manner except in such circumstances and in such manner as may be prescribed: Provided that the Government may, by notification in the official Gazette, exclude from the requirements of this sub-section any approved investments which cannot be deposited for safe custody with a scheduled bank on account of the nature of such investments.