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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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Up to Jul 4 2007Jul 5 2007 onwards

PIN 4.7.2

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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.

Past version: effective up to Jul 4 2007.
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An InsurerG that is not a DIFC Incorporated InsurerG must always have assets, of a type referred to in PIN Rule 4.7.3, that are available to meet Insurance LiabilitiesG of the InsurerG arising in respect of operations conducted by the InsurerG in the DIFCG , at least equal to the sum of the following:

(a) the sum of the default risk component and the investment volatility risk component in respect of those assets, calculated according to the methods set out in sections PIN A4.4 and PIN A4.5 respectively, applying those methods so far as concerns those assets only;
(b) Insurance LiabilitiesG of the InsurerG in respect of its DIFCG Insurance BusinessG ;
(c) the amount determined by applying, in respect of any DIFCG Insurance BusinessG of the InsurerG that is ClassG 7 Insurance BusinessG , the principles referred to in PIN Rule 4.5.4, taking no account of any reinsurance contracts entered into by the InsurerG as cedant in respect of that business; and
(d) the Insurer'sG DIFC Business Risk Capital RequirementG , calculated in accordance with PIN App9.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]