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Dubai Financial Services Authority (DFSA): Contents

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  • PIN A4.12.3

    The proportional reinsurance element is calculated as the sum of the following six amounts, so far only as they relate to proportional reinsurance business of the Insurer:

    (a) 2% of the amount of the Insurer's Net Written Premium;
    (b) 3% of the amount of provisions in respect of Long-Term Insurance Business that is annuity and pensions business and is not Investment-Linked Insurance;
    (c) 1.25% of the amount of provisions in respect of Long-Term Insurance Business that is Investment-Linked Insurance, where the contracts are subject to a capital guarantee;
    (d) 0.5% of the amount of provisions in respect of Long-Term Insurance Business that is Investment-Linked Insurance, where the contracts are not subject to a capital guarantee;
    (e) 0.5% of the amount of provisions in respect of Long-Term Insurance Business other than business described in Rules (b), (c), and (d); and
    (f) the amount obtained by applying to the aggregate amount of capital at risk in respect of Long-Term Insurance contracts the formulae set out in the following table:

    Amount of capital at risk expressed in dollars Formula to determine the amount referred to in rule (5)
    (a) less than $500 million 0.20% of the amount of capital at risk
    (b) over $500 million up to $5 billion 0.13% of the amount of capital at risk, plus $350,000
    (c) over $5 billion up to $25 billion 0.10% of the amount of capital at risk, plus $1,850,000
    (d) over $25 billion 0.08% of the amount of capital at risk, plus $6,850,000.

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