Entire Section

  • PIN A5.3 PIN A5.3 Base non-cellular capital

    • PIN A5.3 Guidance

      The commencement point for calculating an Insurer's adjusted non-cellular equity is the Insurer's base non-cellular capital.


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

    • PIN A5.3.1

      Subject to Rules PIN A5.3.2 and PIN A5.3.3, an Insurer's base non-cellular capital consists of the following capital instruments and equity reserves of the Insurer:

      (a) paid-up ordinary shares, except for shares referred to in PIN Rule A5.5.1(3);
      (b) general reserves;
      (c) retained earnings;
      (d) current year's earnings after tax; and
      (e) hybrid non-cellular capital (as defined in PIN Rule A5.5.1).

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

    • PIN A5.3.2

      All Cell Share Capital and any capital instruments or equity reserves of the Insurer that are attributable to a Cell must be excluded from base non-cellular capital.


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

    • PIN A5.3.3

      Hybrid non-cellular capital having a term to maturity of less than five years may only be included in base non-cellular capital with the written consent of the DFSA.


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