Entire Section

  • PIN 9.2 PIN 9.2 Insurers ceasing to effect contracts of insurance in a class of business

    • PIN 9.2.1

      This section applies to an Insurer that ceases or decides to cease to effect new Contracts of Insurance:

      (a) in a Class of Business in which the Insurer has previously carried on Insurance Business; or
      (b) in respect of a Cell or a Long-Term Insurance Fund, in a Class of Business in which the Insurer has previously carried on Insurance Business through that Cell or Long-Term Insurance Fund.

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

    • PIN 9.2.2

      An Insurer to which this section applies must, within 28 days of a decision to cease to effect new Contracts of Insurance in a Class of Business, notify the DFSA of its decision, in a written notice specifying the following details:

      (a) the effective date of the decision to cease effecting Contracts of Insurance;
      (b) the Class of Business to which the decision relates; and
      (c) where relevant, the Cell or Long-Term Insurance Fund to which the decision relates.

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

    • PIN 9.2.3

      An Insurer which has provided a notice to the DFSA in accordance with PIN Rule 9.2.2 must not effect any Contracts of Insurance in that Class of Business without the written permission of the DFSA. Where the notice referred to in PIN Rule 9.2.2 relates to a Cell or Long-Term Insurance Fund of the Insurer, the restriction set out in this rule applies only to that Cell or Long-Term Insurance Fund.


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