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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 A8.3 Applicability of components to assets of the fund

    • PIN A8.3.1

      Subject to PIN Rule A8.3.2, an InsurerG must calculate those components of the Minimum Fund Capital RequirementG in respect of a Long-Term Insurance FundG , that are relevant to assets, in respect of every asset that is attributable to the Long-Term Insurance FundG .


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

    • PIN A8.3.2

      Where an InsurerG arranges its affairs such that Invested AssetsG attributable to a Long-Term Insurance FundG are held in a RelatedG entity, the InsurerG may, with the written approval of the DFSAG , calculate components of the Minimum Fund Capital RequirementG by reference to the interest of the Long-Term Insurance FundG in the assets that are held by the RelatedG entity, instead of by reference to the interest that the Long-Term Insurance FundG has in that RelatedG entity. In that case this appendix shall be interpreted as though the assets (representing the Long-Term Insurance Fund'sG interest) held by the RelatedG entity were held directly by the Long-Term Insurance FundG .

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

      • PIN A8.3.2 Guidance

        The effect of PIN Rule A8.3.2 is to provide flexibility for InsurersG whose investments are managed on a pooled basis within a GroupG , or which establish specialist SubsidiariesG to manage their investments. While the Insurer'sG asset in such cases is a balance with, or investment in, a RelatedG entity, this rule permits the InsurerG to 'look through' the corporate arrangement and apply this appendix to the assets of the RelatedG entity as though they were the Insurer'sG own. This flexibility extends to Invested AssetsG attributable to Long-Term Insurance FundsG , though this provision does not provide any exemption from PIN section 3.4 in respect of segregation of assets.


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