Class 2 Captive Cell

A Cell established by a Protected Cell Company to which are attributable assets and liabilities arising out of Insurance Business, where:

(a) at least 51% of its Gross Written Premium in any year is attributable to risks related to or arising out of the business or operations of the Group which together hold a majority of the Cell Shares; and
(b) the remainder of its Gross Written Premium in any year is attributable to risks related to or arising out of the business or operations of persons who engage by way of business in commercial activities with the Group through related or common:
(i) businesses;
(ii) activities;
(iii) trade;
(iv) services; or
(v) operations,

including, for this purpose only, contracts of reinsurance in respect of such risks insured by the cedant.

[Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]
[Amended] DFSA RM295/2021 (Made 24th February 2021). [VER50/04-21]