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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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  • PIN 4.7.2 Guidance

    1. Assets are not normally available to meet Insurance Liabilities of an Insurer arising in respect of operations conducted by the Insurer in the DIFC, if those assets are required to meet liabilities of the Insurer in jurisdictions other than the DIFC, except where those liabilities are also Insurance Liabilities of the Insurer arising in respect of operations conducted by the Insurer in the DIFC.
    2. Assets are not normally available to meet Insurance Liabilities of an Insurer arising in respect of operations conducted by the Insurer in the DIFC, if those assets are required, under the laws of any jurisdiction, to be located in a jurisdiction other than the DIFC, except where the assets are required to be located in that jurisdiction to meet, or as collateral against, either:
    a. liabilities that are Insurance Liabilities of the Insurer arising in respect of operations conducted by the Insurer in the DIFC; or
    b. liabilities that may arise in the future and that would, if they arose, be Insurance Liabilities of the Insurer arising in respect of operations conducted by the Insurer in the DIFC.

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