Entire Section

  • PIN 2.3.7 PIN 2.3.7

    For the purposes of PIN Rule 2.3.6, an Insurer may:

    (a) take into account:
    (i) its position within the Group,
    (ii) the materiality of the risk to which it is exposed because of its membership of the Group, and
    (iii) the access that it has to the systems and controls of other members of its Group and any information produced by them or by Associates; and
    (b) consider together Groups whose Holding Companies are all members of the same Group, except for any Group of which the Insurer is the Holding Company.
    Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
    [Deleted] RM46/2007 (Made 5th July 2007). [VER6/07-07]

    • PIN 2.3.7 Guidance

      The effect of PIN Rule 2.3.7(b) is that, where an Insurer is a member of two or more Groups that are also sub-Groups of a single Group, the Insurer may consider that Group as a whole for the purposes of this section. An Insurer that is a Holding Company is however still required to give specific consideration to the risks to which it is exposed as Holding Company.


      Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
      [Deleted] RM46/2007 (Made 5th July 2007). [VER6/07-07]