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Dubai Financial Services Authority (DFSA): Contents

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Up to Jul 4 2007Jul 5 2007 onwards

PIN A5.8.3



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 cellular capital, to the extent that the InsurerG has not excluded them in determining base cellular capital, or has added them to base cellular capital under PIN Rule A5.8.2:

(a) any amounts in respect of appropriations to be made from profit of the CellG in respect of the reporting period most recently ended, including dividends, 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, where that investment or the SubsidiaryG concerned is a Cellular AssetG ;
(d) the amount of any tax liability that would be attributable to unrealised gains on investments that are Cellular AssetsG , if those gains were realised;
(e) the amount of deferred acquisition costs that are Cellular AssetsG ;
(f) the amount of any deferred tax asset that is a Cellular AssetG ;
(g) the amount of any Cellular AssetG 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 that are Cellular AssetsG ;
(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, that are Cellular AssetsG ; and
(k) the amount of any other Cellular AssetsG that may not be applied to meet Cellular LiabilitiesG of that CellG .

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