Annex 1.4. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

CAPITAL RESOURCES and INDEMNITY INSURANCE CALCULATION TEMPLATEFOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

Authorised Firm’s Name	______________________________________
Regulated Activity (select)	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money (select)	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
CAPITAL RESOURCES AND INDEMNITY INSURANCE CALCULATION

MINIMUM CAPITAL REQUIREMENT
Line no.		Reporting period	Reporting period-1
1	(+) Capital elements
2	the ordinary equity share capital, to the extent fully paid up
3	share premium accounts related to the equity share capital referred on line 2
4	any retained earnings and reserves created out of earnings of past periods of the Authorised Firm, and accumulated other comprehensive income, as defined in the International Financial Reporting Standards, to the extent shown in its audited financial statements and accounts.
5	(-) Capital elements
6	any interim losses incurred by the Authorised Firm in the current financial year, irrespective of whether or not shown in audited financial statements and accounts
7	goodwill and other intangible assets as defined in the International Financial Reporting Standards
8	tangible fixed assets, including equipment and vehicles
9	deferred tax assets that rely on future profitability
10	defined benefit pension fund assets of the Authorised Firm
11	investments by the Authorised Firm or by any of its Subsidiaries in the Authorised Firm's own shares
12	holdings of equity shares of Affiliates or Related Persons which give rise to a reciprocal cross holding with the Authorised Firm which has the effect of artificially inflating the Capital Resources of the Authorised Firm
13	any amount to be deducted from Capital Resources as directed by the AFSA
14	Capital Resources Available
15	MINIMUM CAPITAL REQUIREMENTS
16	Annual Income (follow 3.2.(2) PRU INT) once a year
17	Minimum Capital Required (follow 3.2.(2) PRU INT)
18	Capital Resources available
19	Control of compliance with Minimum Capital Requirements

	Indemnity Insurance Overview
20	Indemnity Insurance Volume
21	Average size of insurance policy Intermediated/ Managed
22	Number of Insurance policies Intermediated/ Managed
23	Indemnity Insurer’s Name
24	Indemnity Insurer’s Residency
25	Indemnity Insurer’s Rating/ Rating Agency

Instructions on Annex 1.4 Template on Capital Resources Calculation to the Manual for Preparation of Returns for Authorised Insurance Intermediaries and Insurance Managers are aimed on calculation and reporting of Insurance Intermediaries and Insurance Managers Capital Resources.  

Insurance Intermediaries and Insurance Managers must prepare and submit Capital Resources Calculation, Minimum Capital Requirements and Insurance Indemnity reports for the reporting quarter and quarter prior to reporting quarter.

Insurance Intermediaries and Insurance Managers doing business in the AIFC as a Branch must prepare and submit Insurance Indemnity report.

Line 14. Capital Resources Available is difference of line 1. (+) Capital Elements and line 5. (-) Capital Elements.

Line 19. Control of compliance with Minimum Capital Requirements is analysis of Capital Resources Available and Minimum Capital Requirements.