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PIN A7.3.2

Subject to Rules PIN A7.3.3, PIN A7.3.4 and PIN A7.3.5, the base fund capital in respect of a Long-Term Insurance Fund must consist of the following capital instruments and equity reserves of the Insurer, that are classified as capital instruments and equity reserves of the fund:

(a) general reserves;
(b) retained earnings;
(c) amounts attributed to the Long-Term Insurance Fund by the Insurer in accordance with PIN Rule 3.4.2;
(d) in the case 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;
(e) current year's earnings after tax; and
(f) hybrid capital (as defined in PIN Rule A7.5.1).

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