- 7.2.1. Business to be attributed to Long-Term Insurance Funds
- 7.2.2. Attribution of General Insurance Contracts
- 7.3.1. Separate identification of assets, liabilities, revenues and expenses
- 7.3.3. Attribution of assets not already attributed
- 7.3.2. Recording of assets, liabilities, revenues and expenses
- 7.1.3. Long-Term Insurance Assets
- 7.1.4. Insurer deemed to constitute Long-Term Insurance Fund to be treated as though it had established such fund
- 7.1.5. Treatment of Branches
- 7.5.1. Application of assets
- 7.4.1. Accounting and other records to be maintained
- 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
- 7.5.5. Assets not to be lent
- 7.5.4. Payment of dividends by Insurer constituting a single Long-Term Insurance Fund
- 7.5.6. Certain reinsurance-like arrangements prohibited
- 8.1.1. Value of Insurer’s assets to match its Insurance Liabilities
- 8.1.3. Projecting cash flows - Long-Term Insurance Business
- 8.2.1. General provisions
- 8.1.2. Projecting cash flows - treatment of options
- 8.2.2. Basis of accounting
- 8.2.3. Methods and assumptions that may be used
- 8.2.4. Changes in methods and assumptions on which valuations depend
- 8.2.5. Actuarial principles
- 8.2.6. Derecognising liabilities
- 8.2.7. Discount rate
- 8.2.9. Valuation of expected future receipts
- 8.3.1. Treatment of premium liability
- 8.3.2. Treatment of value of future claims payments
- 8.2.8. Valuation of expected future payments
- 8.3.3. Treatment of expected recoveries
- 8.4.1. Treatment of policy benefits due before Solvency Reference Date
- 8.4.2. Treatment of net value of future policy benefits
- 3.1. Meaning of Counterparty Grade
- 19.2.1. New Life Policies—right to cancel
- 9.2. Long-Term Insurance Risk Component
- 12.1.3. Compliance with PINS 15 by Insurer directed to go into run-off
- 12.1.4. Certain contracts to be disregarded
- 12.2.2 Insurers to give notice of decision to cease business
- 12.2.1. Application
- 12.2.3 Insurers in run-off not to effect certain contracts
- 12.3.2. Insurer voluntarily in run-off to provide run-off plan
- 12.3.3. Insurer directed to go into run-off to provide run-off plan
- 1.1.2. Application of PINS
- 1.1.3. Key Definitions
- 1.3.1. Classification of contracts
- 1.3.2. Classification of contracts falling into two or more categories
- 1.4.1. Restriction on combining certain kinds of Insurance Business
- 1.5.12. Obligation to prepare prudential returns
- 1.4.2. Restriction on Insurers carrying on non-insurance business
- 1.5.1. Obligation to establish and maintain systems and controls
- 1.5.2. Obligation to maintain a risk management strategy
- 1.5.5. Obligations in respect of Investments
- 2.1.1. Risk management function
- 1.5.6. Obligation to maintain Long-Term Insurance Funds
- 2.1.2. Actuarial function
- 1.5.8. Obligation to produce actuarial reports
- 1.5.9. Obligations in respect of groups
- 1.5.10. Obligations in respect of Insurance Business Transfers
- 2. Systems and Controls
- 1.5.11. Obligations in respect of Run-off
- 2.2.2. Mandatory appointments
- 2.2.3. Insurance Risk Manager
- 2.2.4. Insurance Internal Audit Manager
- 2.2.5. Approved Actuary
- 2.3.1. Outsourcing of risk management function (PINS 2.1.1)
- 2.3.2. Outsourcing of actuarial function (PINS 2.1.2)
- 3.1.4. Contents of Risk Tolerance Statement
- 2.3.3. Outsourcing of Controlled Functions (PINS 2.2 and GEN 2.2)
- 3.1.1. Core obligations
- 3.1.2. Contents of Risk Management Strategy
- 3.1.3. Contents of Risk Management Policy
- 3.1.5. Approval of Risk Management Strategy
- 3.1.6. Notification of the AFSA
- 4.1.1. Obligation to conduct an Own Risk and Solvency Assessment
- 4.1.2. ORSA – requirements
- 4.2.1. ORSA Report - requirements
- 5.3.3. Statistical quality test
- 14.4.2. Minimum Capital Requirement for a Protected Cell Company
- 14.4.3. Prescribed Capital Requirement for a Protected Cell Company
- SCHEDULE 2 Categories of Long-Term Insurance
- 5.4.5. Other regulatory actions not precluded
- 6.1.1. Security, liquidity, location and diversification
- 24. Insurance Management
- 5.6.8. Life policies or Family Takaful Contract —projection calculation rules
- 19.2.2. Variations of Life Policies—right to cancel
- 19.2.3. Life policies—when cancellation right can be exercised
- 19.2.4. Life policies—exercising cancellation right
- 19.2.5. Life policies—consequences of cancellation
- 19.3.1. Non-Investment Insurance Contracts —right to cancel
- 19.3.2. Non-Investment Insurance Contracts—when cancellation right can be exercised
- 19.3.3. Non-Investment Insurance Contracts—exercising cancellation right
- 19.3.4. Non-Investment Insurance Contracts—consequences of cancellation
- 19.4.1. Contracts of Insurance cancellation—recordkeeping
- 19.5.1. Claims handling—general requirements
- 20. INSURANCE MANAGEMENT
- 19.5.2. Claims handling—recordkeeping
- 6.1.2. Assets appropriate to liabilities
- 20.2.1. Provision of Insurance Management services
- 6.1.3. Ability to assess risks
- 6.2.1. Assets not admitted to trading on a regulated financial market
- 6.2.2. Derivatives
- 6.2.3. Forward foreign exchange transactions
- 7.1.2. Long-Term Insurance Fund
- 6.3.1. Investment policy
- 6.3.2. Procedures for complex and non-transparent investments
- 7.1.1. Long-Term Insurance Funds to be established
- 8.4.3. Measuring net value of policy benefits as liability
- 8.4.4. Negative values for reserves—Long-Term Insurance
- 9.2.3. Qualifications of independent actuary
- 9.1.1. Application
- 9.1.2. Financial Condition Reports
- 9.1.3. Requirements for Financial Condition Report
- 9.1.4. AFSA may direct more frequent Financial Condition Reports
- 9.1.5 AFSA may direct special review
- 9.2.1. Application
- 9.2.2. Actuarial reporting requirements for general insurance business
- 9.2.4. Actuarial reports
- 9.2.5. Additional powers of the AFSA
- 10.1.1. Application
- 10.1.2. Purpose
- 10.1.3. Group structure
- 10.1.4. Direction regarding capital resources
- 10.1.5. Intra-group transactions
- 10.1.6. Certain transactions to be inquired into by Insurer’s Governing Body
- 10.1.7. Specific obligations of Group members
- 12.1.2. Meanings of terms relating to run-off
- 12.3.4. What run-off plans must cover
- 12.3.5. Application of run-off plan to fund
- 12.3.6. Insurer to monitor run-off plan etc
- 12.3.7. AFSA may direct Insurer to amend run-off plan
- 12.4.1. Application
- 12.4.2. Insurer with business in run-off to notify AFSA of certain contracts
- 12.5.1. Insurer in run-off not to make distributions
- 13.1.1. Obligation to prepare prudential returns
- 13.1.2. Deadlines for provision of returns
- 13.1.3. External audit opinion to accompany
- 1.3. The MCR for Long-term Insurance Business
- 1.2. The MCR for General Insurance Business
- 4.2. Effect of guarantee or collateral
- Associated Party
- AIFC-Incorporated Insurer
- Insurance Liabilities
- Long-Term Insurance Fund
- Solvency Reference Date