- 12.3.3. Takaful Operator directed to go into run-off to provide run-off plan
- 7.3.1. Separate identification of assets, liabilities, revenues and expenses
- 7.3.3. Attribution of assets not already attributed
- 7.4.1. Accounting and other records to be maintained
- 7.3.2. Recording of assets, liabilities, revenues and expenses
- 7.5.1. Application of assets
- 8.1.2. Projecting cash flows - treatment of options
- 8.1.3 Projecting cash flows - Family Takaful Business
- 8.2.1. General provisions
- 8.2.2. Basis of accounting
- 14.4.2. Minimum Capital Requirement for a Protected Cell Company
- 1.1.5. Key Definitions
- 2.2.1. Takaful Funds – establishment and attribution of business
- 2.5.3. Outsourcing of Controlled Functions (TRR 2.4 and GEN 2.2)
- 8.2.4. Changes in methods and assumptions on which valuations depend
- 3.1.1. Core obligations
- 3.1.2. Contents of Risk Management Strategy
- 8.2.3. Methods and assumptions that may be used
- 8.2.5. Actuarial principles
- 8.2.6. Derecognising liabilities
- 8.2.7. Discount rate
- 5.3.7. Ongoing validation and supervisory approval of the internal model
- 5.3.6. Documentation
- 5.4.1. Obligation to maintain Eligible Capital at or above MCR
- 5.4.2. Obligation to maintain Eligible Capital at or above PCR
- 8.2.8. Valuation of expected future payments
- 8.2.9. Valuation of expected future receipts
- 14.4.3. Prescribed Capital Requirement for a Protected Cell Company
- 8.3.1. Treatment of premium liability
- 8.3.2. Treatment of value of future claims payments
- 8.3.3. Treatment of expected recoveries
- 24. Insurance Management
- 8.4.1. Treatment of policy benefits due before Solvency Reference Date
- 5.6.2. Product disclosure document—provision requirement
- 8.4.2. Treatment of net value of future policy benefits
- 5.6.11. Takaful Contracts – Specific Disclosure requirements
- 12.1.3. Compliance with TRR 12 by Takaful Operator directed to go into run-off
- 8.5.1. Application
- 20. INSURANCE MANAGEMENT
- 20.2.1. Provision of Insurance Management services
- 12.1.4. Certain contracts to be disregarded
- 12.2.1. Application
- 12.2.2 Takaful Operators to give notice of decision to cease business
- 1.1.3. Application of TRR
- 1.1.6. Principles underlying TRR Rules
- 1.3.1. Classification of contracts
- 1.5.9. Obligations in respect of groups
- 1.3.2. Classification of contracts falling into two or more categories
- 1.4.1. Restriction on combining certain kinds of Takaful Business
- 1.4.2. Restriction on Takaful Operators carrying on non-Takaful Business
- 1.5.1. Obligation to establish and maintain systems and controls
- 1.5.10. Obligations in respect of Takaful Business Transfers
- 1.5.2. Obligation to maintain a risk management strategy
- 2.1. Overall Governance
- 1.5.3. Obligation to conduct Own Risk and Solvency Assessment
- 1.5.11. Obligations in respect of Run-off
- 1.5.4. Obligation to maintain Eligible Capital
- 1.5.5. Obligations in respect of Investments
- 1.5.12. Obligation to prepare prudential returns
- 1.5.6. Obligation to maintain Long Term Takaful Funds
- 1.5.7. Obligations in respect of Assets and Liabilities
- 1.5.8. Obligation to produce actuarial reports
- 2.2.2. Takaful Funds – Allocation of assets
- 2.2.3. Takaful Funds – Fair transactions
- 2.2.4. Takaful Funds – Prohibition on making or attributing loans
- 2.3.1. Risk management function
- 2.3.2. Actuarial function
- 2.3. Systems for risk management and internal controls
- 2.4.1. Designation of roles as Controlled Functions
- 2.4.5. Approved Actuary
- 2.4.2. Mandatory appointments
- 2.4.3. Risk Officer
- 2.5.2. Outsourcing of actuarial function (TRR 2.3.2)
- 2.4.4. Internal Auditor
- 2.5.1. Outsourcing of risk management function (TRR 2.3.1)
- 3.1.3. Contents of Risk Management Policy
- 3.1.4. Contents of Risk Tolerance Statement
- 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
- 5.1.1. Application
- 5.1.2. Overview
- 12.2.3. Takaful Operators in run-off not to effect certain contracts
- 5.2.2. Obligation to calculate MCR
- 5.3.5. Use test
- 5.3.1. Approval by AFSA
- 5.3.2. Criteria for approving use of internal models
- 5.3.3. Statistical quality test
- 5.3.4. Calibration test
- 5.4.3. Non-Compliance with the PCR
- 5.4.4. Non-Compliance with the MCR
- 5.4.5. Other regulatory actions not precluded
- 6.1.2. Assets appropriate to liabilities
- 5.4.6. Contents of recovery plans and finance schemes
- 5.4.7. Eligible Capital below the level of the Capital Floor
- 5.5.1. Tier 1 Capital not to be reduced without approval
- 5.5.2. Capital plan to be provided
- 5.5.3. Notice to be given of proposed reduction of Tier 2 Capital
- 5.6.1. Dividends and distributions to be reported
- 6.1.1 Security, liquidity, location and diversification
- 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
- 6.3.1. Investment policy
- 6.3.2. Procedures for complex and non-transparent investments
- 7.2.2. Attribution of General Takaful Contracts
- 7.1.1. Family Takaful Funds to be established
- 7.2.1. Business to be attributed to Family Takaful Funds
- 7.1.2. Family Takaful Fund
- 7.1.3. Family Takaful Assets
- 7.1.4. Takaful Operator deemed to constitute Family Takaful Fund to be treated as though it had established such fund
- 7.1.5. Treatment of Branches
- 7.5.2. Transfers of assets out of Family Takaful Funds
- 7.5.3. Assets of Family Takaful Funds not to be distributed
- 7.5.4. Payment of dividends by Takaful Operator constituting a single Family Takaful Fund
- 7.5.5. Assets not to be lent
- 7.5.6. Certain reinsurance-like arrangements prohibited
- 7.6.1. Policies about surpluses and deficits
- 7.6.2. When 2 or more policies permitted
- 7.6.6. Prohibitions on distributions
- 7.6.3. Copies of policies to be given to the AFSA
- 7.6.4. Surplus or deficit to be determined annually
- 7.6.5. Reports of distributions of surplus or deficit to the AFSA
- 8.1.1. Value of Takaful Operator’s assets to match its Takaful Liabilities
- 8.4.3. Measuring net value of policy benefits as liability
- 8.4.4. Negative values for reserves—Family Takaful
- 9.1.1 Application
- 9.2.3. Qualifications of independent actuary
- 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 Takaful business
- 9.2.4. Actuarial reports
- 9.2.5. Additional powers of the AFSA
- 10.1.1. Application
- 12.3.2. Takaful Operator voluntarily in run-off to provide run-off plan
- 10.1.2. Purpose
- 10.1.3 Group structure
- 10.1.4. Direction regarding Eligible Capital
- 10.1.5. Intra-group transactions
- 10.1.6. Certain transactions to be inquired into by Takaful Operator’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. Takaful Operator to monitor run-off plan etc
- 12.3.7. AFSA may direct Takaful Operator to amend run-off plan
- 12.4.1 Application
- 12.4.2. Takaful Operator with business in run-off to notify AFSA of certain contracts
- 12.5.1 Takaful Operator in run-off not to make distributions
- 13.1. Obligation to prepare prudential returns
- 13.3. External audit opinion to accompany
- 13.2. Deadlines for provision of returns
- Family Takaful Category 3: Permanent health
- 5.3. Inadmissible assets
- 1.2. The MCR for General Takaful Business
- 1.3. The MCR for Family Takaful Business
- 2.1. Risk-Based Capital Requirement
- 3.1. Meaning of Counterparty Grade
- 4.1. Asset Risk Component
- 4.2. Effect of guarantee or collateral
- 7.1. Application
- 8.1. Application
- 10.1. Application
- 9.1. Application
- 10.3. Maximum event retention
- Associated Party
- AIFC-Incorporated Takaful Operator
- Solvency Reference Date
- Takaful Liabilities