Entire Section

  • PIN 5.3.1 PIN 5.3.1

    Except where this chapter provides otherwise, the assets and liabilities of an Insurer must be recognised in accordance with a basis of accounting set out in PIN Rule 5.3.2, and the values attributed to those assets and liabilities must be measured in accordance with that basis of accounting.

    Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]

    • PIN 5.3.1 Guidance

      The exceptions provided in this chapter relate to the following:

      a. specific Rules in respect of certain assets and liabilities, intended to achieve a regulatory objective not achieved by application of either or both of the bases of accounting set out in PIN Rule 5.3.2;
      b. assets and liabilities that are not dealt with in either or both of the bases of accounting set out in PIN Rule 5.3.2; and
      c. the overriding power of the DFSA, set out in PIN Rule 5.1.6, to require an Insurer to adopt a particular measurement for a specific asset or liability.

      Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]