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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Prudential — Insurance Business Module (PIN) [VER15/01-18]
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DFSA Codes of Practice
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Financial Markets Tribunal

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(2 versions)
Up to Jul 4 2007Jul 5 2007 onwards

PIN A4.12.2

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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.

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

In Rules PIN A4.12.3, PIN A4.12.4 and PIN A4.12.8:

(a) contracts of finite risk reinsurance must be excluded from the calculation of the proportional reinsurance element and the non-proportional reinsurance element;
(b) 'provisions in respect of Long-Term InsuranceG Business' means the amount of Long-Term Insurance LiabilityG in respect of the contracts concerned, except that the amount may not be less than 85% of the liability determined without taking reinsurance into account; and
(c) 'capital at risk' means the aggregate amount of sums assured on contracts of Long-Term InsuranceG issued by an InsurerG , minus the aggregate amount of provisions in respect of those contracts. Where the contract is an annuity, the sum assured must be taken to be the present value of the annuity payments. The capital at risk must be determined separately for each contract, and where the capital at risk calculated for a contract is less than zero, the capital at risk for that contract must be taken as zero.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] RM46/2007 (Made 5th July 2007) [VER6/07-07]