Each life insurer engaging in the property and casualty business shall maintain accounting records which adequately reflect the operation of this reinsurance business in a like manner as any fire or casualty insurer doing the same kind of business. Each life insurer engaging in such business shall report to the Commissioner in such manner and at such time as the Commissioner may hereafter prescribe with respect to these lines of business, the funds applied thereto and the allocation of expenses.
211 CMR, § 30.08