Entire Section

  • PIN A4.3 PIN A4.3 Applicability of components to assets of the insurer

    • PIN A4.3.1

      Subject to PIN Rule A4.3.2, an Insurer must calculate those components of its Minimum Capital Requirement that are relevant to assets, in respect of every asset that is owned by the Insurer and that is available to meet the liabilities of the Insurer.


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

    • PIN A4.3.2 PIN A4.3.2

      Where an Insurer arranges its affairs such that its Invested Assets are held in a related entity, the Insurer may, with the written approval of the DFSA, calculate components of its Minimum Capital Requirement by reference to the Insurer's interest in the assets that are held by the related entity, instead of by reference to the interest that the Insurer has in that related entity. In that case this appendix shall be interpreted as though the assets (representing the Insurer's interest) held by the related entity were held directly by the Insurer.

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

      • PIN A4.3.2 Guidance

        The effect of PIN Rule A4.3.2 is to provide flexibility for Insurers whose investments are managed on a pooled basis within a Group, or which establish specialist Subsidiaries to manage their investments. While the Insurer's asset in such cases is a balance with, or investment in, a related entity, this rule permits the Insurer to 'look through' the corporate arrangement and apply this appendix to the assets of the related entity as though they were the Insurer's own.


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