An Insurer must treat as a liability the net present value of future Policy Benefits under policies that are in force as at the Solvency Reference Date, taking into account all prospective liabilities as determined by the policy conditions for each existing contract, and taking credit for premiums payable after the Solvency Reference Date.
Derived from DFSA RM06/2004
(Made 16th September 2004). [VER1/09-04]
(Made 5th July 2007). [VER6/07-07]