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COB 7.1.3

(1) In this chapter, unless otherwise stated, a reference to a Client of an Insurance Manager is a reference to:
(a) an insurer to whom the Insurance Manager provides its Insurance Management services; and
(b) a Policyholder with whom the Insurance Manager interacts when carrying out its Insurance Management activities.
(2) In COB section 7.12, when an Insurance Manager provides Insurance Management services to a Captive Insurer, a reference to a Client in (1)(a) is a reference to:
(a) the Captive Insurer;
(b) any shareholder of the Captive Insurer; and
(c) any Person on whose behalf the Insurance Manager undertakes to establish that Person as an insurer.
(3) In (2):
(a) a Captive Insurer includes a Cell of a Protected Cell Company which is an Insurer; and
(b) a shareholder includes a holder of Cell Shares.
Derived from DFSA RM182/2016 (Made 19th June 2016) [VER27/08-16]