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PIN A4.11.4

For the purposes of PIN Rule A4.11.1, the Insurer's base claims reserve means the following amounts:

(a) for an Insurer, other than a Captive Insurer, the higher of:
(i) the Insurer’s provision for Gross Outstanding Claims, less the amount of reinsurance and other recoveries expected to be received in respect of that liability; and
(ii) 50% of the amount of the Insurer’s provision for Gross Outstanding Claims; and
(b) for a Captive Insurer, the amount of the Insurer’s provision for Gross Outstanding Claims, less the amount of reinsurance and other recoveries expected to be received in respect of that liability.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] DFSA RMI296/2021 (Made 24th February 2021). [VER17/04-21]