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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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
Financial Markets Tribunal

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  • PIN 2.2.4

    PIN Rule 2.2.3 does not apply in respect of a GroupG where the InsurerG is not the Holding CompanyG and where the Holding CompanyG of the GroupG is:

    (a) another InsurerG ; or
    (b) a SubsidiaryG of another Holding CompanyG .
    Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]

    • PIN 2.2.4 Guidance

      1. The effect of PIN Rule 2.2.4 is to avoid duplication arising from complex GroupG structures. If an InsurerG is a member of a GroupG whose Holding CompanyG is another InsurerG , the first InsurerG need not apply PIN Rule 2.2.3 in respect of that GroupG , because the InsurerG that is the Holding CompanyG is already required to apply that RuleG . Where an InsurerG is a member of two or more GroupsG that are also sub-groups of a single GroupG , the InsurerG may consider that single group as a whole for the purposes of this section. An InsurerG that is a Holding CompanyG is however still required to apply PIN Rule 2.2.3 in respect of any GroupG of which the InsurerG is the Holding CompanyG .
      2. An InsurerG should describe how its risk tolerance limits described in PIN Rule 2.2.1(c) link with its corporate objectives, business strategy and current circumstances. An InsurerG is expected to embed its risk tolerance limits into its day-to-day operations and its risk management policies and procedures.
      Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM99/2012 (Made 24th July 2012) [VER12/07-12]