PIN 9.1.2 Guidance
1. This chapter sets out prudential provisions applying to
Insurers that cease to carry on Insurance Business, either wholly or in respect of a particular Class of Business. The provisions are also applicable to Cells and Long-Term Insurance Funds of Insurers, but do not (because of the effect of PIN Rule 9.1.2) apply to non- DIFC Insurance Business of Insurers that are not DIFC Incorporated Insurers.
2. Sections PIN 9.2 and PIN 9.3 set out actions that an
Insurer is required to take when it decides to cease to effect or carry out Contracts of Insurance. Sections PIN 9.4, PIN 9.5 and PIN 9.6 give the DFSA specific powers relating to the supervision of such Insurers.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]