Class 2 Captive Insurer

A DIFC Incorporated Insurer which is required under the conditions of its licence to obtain:

(a) at least 51% of its Gross Written Premium in any year from Contracts of Insurance in respect of risks related to or arising out of the business or operations of the Group; and
(b) the remainder of its Gross Written Premium in any year from Contracts of Insurance in respect of 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.

Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]
[Amended] DFSA RM50/2007 (Made 1st October 2007). [VER16/10-07]
[Amended] DFSA RM295/2021 (Made 24th February 2021). [VER50/04-21]