PIN A3.3.1

Subject to Rules PIN A3.3.2, PIN A3.3.3 and PIN A3.3.4, an Insurer's base capital consists of the following capital instruments and equity reserves of the Insurer:

(a) paid-up ordinary shares, except for shares referred to in PIN Rule A3.5.1(d);
(b) general reserves;
(c) in the Insurance Fund of a Takaful Insurer, amounts provided from the Owners' Equity by loan to the Insurance Fund and not repaid as at the Solvency Reference Date;
(d) retained earnings;
(e) current year's earnings after tax; and
(f) hybrid capital, as defined in PIN Rule A3.5.1.

Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] DFSA RM50/2007 (Made 1st October 2007). [VER7/10-07]