PIN 4.7.2

Past version: effective up to 04/07/2007
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An Insurer that is not a DIFC Incorporated Insurer must always have assets, of a type referred to in PIN Rule 4.7.3, that are available to meet Insurance Liabilities of the Insurer arising in respect of operations conducted by the Insurer in the DIFC, at least equal to the sum of the following:

(a) the sum of the default risk component and the investment volatility risk component in respect of those assets, calculated according to the methods set out in sections PIN A4.4 and PIN A4.5 respectively, applying those methods so far as concerns those assets only;
(b) Insurance Liabilities of the Insurer in respect of its DIFCInsurance Business;
(c) the amount determined by applying, in respect of any DIFCInsurance Business of the Insurer that is Class 7 Insurance Business, the principles referred to in PIN Rule 4.5.4, taking no account of any reinsurance contracts entered into by the Insurer as cedant in respect of that business; and
(d) the Insurer'sDIFC Business Risk Capital Requirement, calculated in accordance with PIN App9.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]