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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Archive
Rulebook Modules
Prudential — Insurance Business Module (PIN) [VER15/01-18]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices

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PIN 3.5.4



Whole Section PDF

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.

To view past versions of this module in PDF format, please visit the Archive.

A dividend or return of capital by an InsurerG or a CellG that is deemed to constitute a single Long-Term Insurance FundG may only be made where the dividend or return of capital constitutes appropriation of a surplus determined in accordance with PIN section 7.3, and:

(a) if the payment is made within four months of the Reference DateG of the actuarial investigation determining that surplus, the payment does not cause the total aggregate amount of the dividends or returns of capital made by the InsurerG or the CellG since that Reference DateG to exceed the amount of that surplus; or
(b) If the payment is made more than four months after the Reference DateG of the actuarial investigation determining that surplus, the payment does not cause the total aggregate amount of the dividends or returns of capital made by the InsurerG or the CellG since that Reference DateG to exceed 50 per cent of the amount of that surplus.

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