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Dubai Financial Services Authority (DFSA): Contents

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Prudential — Insurance Business Module (PIN) [VER15/01-18]
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Up to Jul 4 2007Jul 5 2007 onwards

PIN A3.4.3



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.

The following items must be deducted from base capital, to the extent that the InsurerG has not excluded them in determining its base capital, or has added them to base capital under PIN Rule A3.4.2:

(a) any amounts in respect of appropriations to be made from profit in respect of the reporting period most recently ended, including dividends, distributions by Takaful InsurersG of surplus, bonuses, pensions and welfare charges that are determined on the basis of the profit of that reporting period, whether or not the amounts have been approved by the InsurerG for payment;
(b) Owners' EquityG in a Takaful InsurerG that does not, under the constitutional documents of the InsurerG or the terms of insurance contracts or both, participate in the surpluses and losses of Takaful business;
(c) the amount of any investment by the InsurerG or by a SubsidiaryG of the InsurerG , in the Insurer'sG own shares;
(d) the amount of any tax liability that would be attributable to unrealised gains on investments, if those gains were realised;
(e) the amount of deferred acquisition costs;
(f) the amount of any deferred tax asset;
(g) the amount of any asset representing the value of in-force Long-Term Insurance BusinessG of the InsurerG ;
(h) the amount of any goodwill, patents, service rights, brands and any other intangible items;
(i) the amount of any Zakah or charity fund of a Takaful InsurerG ;
(j) the amount of any operating assets, including inventories, plant and equipment, and vehicles; and
(k) the amount of any other assets that may not be applied to meet Insurance LiabilitiesG of the InsurerG .

Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] RM46/2007 (Made 5th July 2007) [VER6/07-07]