For the purposes of the calculation referred to in PIN Rule A4.8.1:
(a) 'investment exposure' means the aggregate value of all equity, bond or other investments in or in respect of the counterparty or grouping of
Related counterparties or property in question, together with off-balance sheet exposures to the same counterparty or grouping of Related counterparties or property that the Insurer has because it has issued guarantees, letters of credit or other credit substitutes (other than insurance contracts), or because it has entered into derivative contracts, and any amounts referred to in PIN Rule A4.12.6 in respect of that counterparty or grouping of Related counterparties, but excluding any assets excluded from base capital by reason of any of the Rules referred to in PIN Rule A4.4.7(2); and
Rated Governments and Government agencies are not counterparties.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]