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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Insurance Business Module (PIN) [VER15/01-18]
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  • PIN 7.5 Qualifications of the actuary

    • PIN 7.5.1

      An ActuaryG appointed to provide an actuarial report under this chapter must:

      (a) have experience in the determination of liabilities in the Classes of BusinessG dealt with in the actuarial report; and
      (b) have the required skill and experience to perform his functions under the DIFCG regulatory system.
      Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]

      • PIN 7.5.1 Guidance

        The RulesG do not require an InsurerG to use the same ActuaryG for all reports. An InsurerG may provide separate reports, prepared by more than one ActuaryG , where the InsurerG undertakes different Classes of BusinessG , provided that each ActuaryG is appropriately qualified for the Classes of BusinessG on which he reports. Similarly, an InsurerG may appoint different ActuariesG , each appropriately qualified, to provide reports in respect of Insurance BusinessG conducted in or in respect of different geographical locations, for example DIFCG Insurance BusinessG and other Insurance BusinessG .


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

    • PIN 7.5.2

      An InsurerG must notify the DFSAG in writing of the name, professional qualifications and relevant experience of each person that the InsurerG proposes to appoint to provide an actuarial report under this chapter.


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

    • PIN 7.5.3

      The DFSAG may, if it does not believe that the ActuaryG proposed by the InsurerG possesses the qualifications set out in PIN Rule 7.5.1, notify the InsurerG in writing that another ActuaryG must be appointed.


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

    • PIN 7.5.4

      An InsurerG must notify the DFSA immediately on the termination or resignation of its ActuaryG , giving the reasons for such termination or resignation.

      [Added] DFSA RM99/2012 (Made 24th July 2012) [VER12/07-12]