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PIN A5.1.1 Guidance

1. This appendix sets out the manner in which an Insurer that is a Protected Cell Company is required to calculate its Adjusted Non-Cellular Capital Resources and the Adjusted Cellular Capital Resources applicable to each Cell. The calculation is in each case analogous to that applicable to Insurers that are not Protected Cell Companies, so that (except where changes are necessary to reflect structural differences) the capital of each Cell, and of the non-cellular portion of the Insurer, is determined as though it was an Insurer subject to PIN App3.
2. The Adjusted Non-Cellular Capital Resources and Adjusted Cellular Capital Resources are calculated by making adjustments to the non-cellular equity of the Insurer or cellular equity of the Cell, as at the Solvency Reference Date.
3. Provisions in respect of adjusted non-cellular capital resources are set out in sections PIN A5.2 to PIN A5.5. Provisions in respect of adjusted cellular capital resources are set out in sections PIN A5.6 to PIN A5.10.

Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]