In this chapter:
Insurer in run-off means an Insurer that has ceased to effect Contracts of Insurance in respect of the whole of its Insurance Business (or, in the case of an Insurer that is not a DIFC Incorporated Insurer, the whole of its Insurance Business carried on through an establishment in the DIFC), and a Cell in run-off and a Long-Term Insurance Fund in run-off are construed accordingly; and
(b) going into run-off or placing
Insurance Business into run-off means ceasing to effect Contracts of Insurance, and placing a Cell or a Long-Term Insurance Fund into run-off are construed accordingly.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]