PIN A7.5 Guidance

1. This section acts to limit hybrid capital to 15% of the adjusted fund equity in respect of a fund.
2. The purpose of the fund hybrid capital adjustment is to limit the extent to which an Insurer may rely for its Adjusted Fund Capital Resources in respect of any Long-Term Insurance Fund on instruments that do not or may not constitute permanent capital of that fund.

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