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7.5.1. Application of assets

LEGAL ENTITIES LEGISLATION

FINANCIAL SERVICES LEGISLATION

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ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING AND SANCTIONS RULES

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INSURANCE AND REINSURANCE PRUDENTIAL RULES

1. General provisions

2. Systems and Controls

3. Risk Management Strategy

4. Own Risk and Solvency Assessment (ORSA)

5. Capital adequacy requirements

6. Investment

7. Segregation of Long-Term Insurance assets and liabilities

7.1. Establishment of Long-Term Insurance Funds

7.2. Attribution of contracts to a Long-Term Insurance Fund

7.3. Segregation of assets and liabilities

7.4. Recordkeeping: attribution of assets and liabilities to Long-Term Insurance Fund

7.5. Limitation on use of assets in Long-Term Insurance Fund

7.5.1. Application of assets

7.5.2. Transfers of assets out of Long-Term Insurance Funds

7.5.3. Assets of Long-Term Insurance Funds not to be distributed

7.5.4. Payment of dividends by Insurer constituting a single Long-Term Insurance Fund

7.5.5. Assets not to be lent

7.5.6. Certain reinsurance-like arrangements prohibited

8. Valuation

9. Actuarial reporting

10. Insurers that are members of Groups

11. Transfer of insurance business

12. Insurers in run-off

13. Prudential returns

14. Captive Insurers

SCHEDULE 1. Categories of General Insurance

SCHEDULE 2 Categories of Long-Term Insurance

SCHEDULE 3. Calculation of Eligible capital

SCHEDULE 4. Calculation of Minimum Capital Requirement (MCR)

SCHEDULE 5. Calculation of Prescribed Capital Requirement (PCR)

SCHEDULE 6. Prudential returns by Insurers

WORKING SCHEDULE 1 - List of Defined Terms for PINS and associated rulebooks

ISLAMIC BANKING BUSINESS PRUDENTIAL RULES

ISLAMIC FINANCE RULES

TAKAFUL AND RETAKAFUL PRUDENTIAL RULES

REPRESENTATIVE OFFICE RULES

AIFC AUDITOR RULES

AIFC Financial Technology Rules

COOPERATION AND EXCHANGE OF INFORMATION RULES

TERMS AND PROCEDURE FOR CURRENCY TRANSACTIONS

FINANCIAL SERVICES EXEMPT FROM CORPORATE TAX

GLOSSARY

FEES RULES

RULES ON CURRENCY REGULATION AND PROVISION OF INFORMATION ON CURRENCY TRANSACTIONS IN THE AIFC

RULES ON THE SUBSTANTIAL PRESENCE OF THE AIFC PARTICIPANTS APPLYING TAX EXEMPTIONS FOR THE PAYMENT OF CIT, VAT

MULTILATERAL AND ORGANISED TRADING FACILITIES RULES

AIFC RECOVERY AND RESOLUTION RULES

AIFC RULES ON DIGITAL ASSET ACTIVITIES

RULES AND MECHANISMS OF COOPERATION OF UNBACKED DIGITAL ASSET EXCHANGES AND/OR CENTRE PARTICIPANTS AUTHORIZED TO CARRY OUT DIGITAL ASSETS-RELATED ACTIVITIES WITH SECOND-TIER BANK OF THE REPUBLIC OF KAZAKHSTAN

AIFC RULES ON PROVIDING MONEY SERVICES

POLICIES AND POLICY STATEMENTS

7.5.1. Application of assets

An Insurer must ensure that, except as provided in PINS 7.5.2 to 7.5.6, assets that are attributable to a Long-Term Insurance Fund are applied only for the purposes of the business attributed to the Long-Term Insurance Fund.

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7.5.1. Application of assets

An Insurer must ensure that, except as provided in PINS 7.5.2 to 7.5.6, assets that are attributable to a Long-Term Insurance Fund are applied only for the purposes of the business attributed to the Long-Term Insurance Fund.