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W 119/06 PIN — AIG MEMSA General Insurance Company Ltd

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MODIFICATION NOTICE

To AIG MEMSA General Insurance Company Ltd
Address Level 11, The Gate Building, PO Box 117719,
Dubai International Financial Centre, Dubai, UAE
DFSA Firm Reference No. F000016
Notice No. W119/2006

THE DFSA HEREBY GIVES NOTICE THAT:

The Rules specified in the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply to that Person in the modified form prescribed in that table below.

This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.

Effective date: This notice comes into effect on 28th May and remains in effect until further notice or on the date on which any rule specified herein is amended, whichever is the earlier.

RULES MODIFIED

The Rule listed in the left hand column of the table below is modified as shown in the right hand column of the table. In this table, underlining indicates new text and striking through indicates deleted text.

The version of the Rule to which this notice relates is PIN/VER2/228/10-04.

Rule Modified Text
PIN App4 Rule A4.2.3 (d) amend to "in the case of all other insurers, $ 10m".

CONDITIONS

The modification in respect of the Rule specified above remain in effect on condition that:

(a) AIG MEMSA General Insurance Company Ltd enters into a General Guarantee Agreement with its parent company American International Underwriters Overseas Limited and provides the DFSA with a copy of the signed Agreement; and
(b) this Agreement stays in place. Should the Agreement terminate AIG MEMSA General Insurance Company Ltd will be subject to PIN App4 Rule A4.2.3 (d) as amended from time to time.

INTERPRETATION

The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

This notice was issued by:

Name : David Knott
Position : Chief Executive
Date : 28th May 2006