PIN A6.1 PIN A6.1 Purpose and general provisions
This appendix applies to all
Insurersto which PIN section 4.4 applies.
PIN A6.1.2 PIN A6.1.2
In this appendix, the term 'segment' includes both:(a) a
Cellof a Protected Cell Company; and(b) the portion of a Protected Cell Companythat is not a Cell; and the term 'segmental' is construed accordingly.
PIN A6.1.2 Guidance1. This appendix sets out how an
Insurerthat is a Protected Cell Companyis required to calculate its Minimum Non-Cellular Capital Requirementand the Minimum Cellular Capital Requirementapplicable to each Cell.2. The Minimum Non-Cellular Capital Requirementand the Minimum Cellular Capital Requirementare calculated on a basis that is analogous to the basis of calculation of the Minimum Capital Requirementfor Insurersthat are not Protected Cell Companies, as set out in PIN App4. This appendix therefore incorporates references to the provisions of PIN App4.3. The calculation of the Minimum Non-Cellular Capital Requirementtakes into account only Non-Cellular Assetsand Non-Cellular Liabilities, while the Minimum Cellular Capital Requirementin respect of a Celltakes into account only Cellular Assetsof that Celland Cellular Liabilitiesof the same Cell.4. The methods of calculation for the Minimum Non-Cellular Capital Requirementand the Minimum Cellular Capital Requirementin respect of a Cellare identical, so the term Minimum Segmental Capital Requirementis used to refer to both. Similarly, the term 'segment' is used in this appendix to refer to both a Celland the non-cellular part of an Insurer.