Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Insurance Business Module (PIN) [VER15/01-18]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • PIN A10.4.7

    Where this appendix or the form requires information to be presented for different Classes of BusinessG or for different types of insurance contract (for example, direct insurance, facultative reinsurance, proportional reinsurance treaty and non-proportional reinsurance treaty), an InsurerG required to complete the form must present the relevant information in respect of all Classes of BusinessG and types of contract, except under the following circumstances so far as concerns businesses other than Direct Long Term Insurance BusinessG of a DIFC Incorporated InsurerG :

    (a) Where an item of numerical information in respect of a Class of BusinessG for a type of insurance contract is less than two per cent of the total such numerical information in respect of all Classes of BusinessG for that type of insurance contract, the InsurerG may aggregate that numerical information for that Class of BusinessG for that type of insurance contract with the same item of information for the Class of BusinessG for that type of contract in which that item of information is the largest.
    (b) Where an item of numerical information in respect of a type of insurance contract for a Class of BusinessG is less than two per cent of the total such numerical information in respect of all types of insurance contract for that Class of BusinessG , the InsurerG may aggregate that numerical information for that type of insurance contract for that Class of BusinessG with the same item of information for the type of insurance contract for that Class of BusinessG in which that item of information is the largest.
    Derived from DFSA RM44/2007 (Made 1st June 2007). [VER5/06-07]
    [Amended] RM46/2007 (Made 5th July 2007). [VER6/07-07]

    • PIN A10.4.7 Guidance

      This RuleG establishes de minimis limits for an Insurer in respect of detailed numerical information presented by Class of BusinessG or by type of insurance contract. These de minimis limits do not apply for Direct Long-Term Insurance BusinessG carried on by a DIFC Incorporated InsurerG . Amounts below the de minimis limits may be aggregated together with other items of information in the same line or column of a form. InsurersG are not required to apply the sub-sections in the order that they are set out. However, InsurersG should ensure that the ReturnsG continue to comply with both sub-sections after applying either. It is possible that applying the second sub-section to be applied could affect compliance with the first.

      Derived from DFSA RM44/2007 (Made 1st June 2007). [VER5/06-07]
      [Amended] RM46/2007 (Made 5th July 2007). [VER6/07-07]
      [Amended] DFSA RM54/2007 (Made 1st December 2007). [VER9/12-07]