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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Prudential — Insurance Business Module (PIN) [VER15/01-18]
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Jul 5 2007 onwards

PIN 4.2.3

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

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(1) Without limiting the generality of PIN Rule 4.2.2, an InsurerG that effects Direct Long-Term InsuranceG contracts must ensure that:
(a) premiums for any Direct Long-Term InsuranceG contracts it effects are sufficient at that time for the formation of technical provisions relating to future Policy BenefitsG in accordance with the applicable valuation rules; and
(b) each Long-Term Insurance FundG to which Direct Long-Term InsuranceG contracts are attributed holds at all times Invested AssetsG of appropriate safety, yield and marketability adequate to provide the future Policy BenefitsG under those contracts that are attributed to the FundG .
(2) For the purposes of (1)(b), assets of the type described in PIN Rule A3.4.3 must be excluded.
[Added] RM46/2007 (Made 5th July 2007). [VER6/07-07]